Industrial equipment manufacturer IDEX Corp raised its full-year profit forecast on Wednesday, citing continued strong demand for its products used in data centers and semiconductors, among other sectors. The company also reported first-quarter results that exceeded market expectations.

Financial reports show that IDEX's first-quarter revenue increased to $886.9 million, up from $814.3 million in the same period last year. Adjusted earnings per share came in at $2.00, significantly surpassing the average analyst estimate of $1.77.

The growth was primarily driven by the Health & Science Technologies division, where revenue climbed to $398.4 million from $341.5 million. Buoyed by robust demand from AI data centers, semiconductors, aerospace, and defense markets, the segment saw organic orders grow by 17% and organic sales increase by 11%. Management indicated that a record order backlog has enhanced visibility into future performance.

Looking ahead for the full year, IDEX raised its adjusted earnings per share guidance to a range of $8.35 to $8.55, up from the previous forecast of $8.15 to $8.35. The company also increased its full-year 2026 organic growth guidance from 1%-2% to 3%-4%.

Additionally, the company disclosed that it returned $129 million to shareholders in the first quarter of 2026 through dividends and share repurchases. IDEX maintains a healthy balance sheet, with a total leverage ratio of approximately 2.0 times, providing financial flexibility for strategic mergers and acquisitions.