IDEX Corporation (IEX) stock is soaring 6.29% in pre-market trading on Wednesday following the release of its better-than-expected third-quarter earnings report and an announcement of increased share repurchase authorization.

The industrial equipment maker reported adjusted earnings per share of $2.03, surpassing analysts' expectations of $1.93. Revenue for the quarter rose 10% year-over-year to $878.7 million, beating the consensus estimate of $860.9 million. The company's performance was particularly strong in its health and science technology segment, which saw a 22% increase in sales compared to the previous year.

IDEX also narrowed its full-year 2025 adjusted earnings guidance to between $7.86 and $7.91 per share, signaling confidence in its outlook. Additionally, the company increased its share repurchase authorization to $1 billion, demonstrating a commitment to returning value to shareholders. These factors, combined with the company's strong free cash flow generation, have contributed to the positive market reaction and the significant stock price increase.