IDEX delivered a strong second quarter of 2026 that meaningfully exceeded its own guidance, headlined by record orders of over $1 billion, up 28% organically, with double-digit growth across all three segments and Health & Science Technologies (HST) surging 47%. Organic sales grew 5% (reported sales up 6% to $920.6 million), adjusted EBITDA margin expanded 70 basis points to 28.1%, and adjusted EPS rose 12% to $2.32, well above the $2.07-$2.12 guided range even after stripping out a $0.08 benefit from one-time IEEPA tariff refunds; on a GAAP basis the company reported operating income of $199.9 million (operating margin ~21.7%) and diluted EPS of $1.93, up 11%. The order strength was concentrated in AI-linked data center, semiconductor, and space & defense applications, which now exceed a third of HST revenue and gave management roughly twice the 2027 HST volume already booked versus a year ago, prompting a modest CapEx step-up to ~$110 million to support 2027-2028 capacity. Building on that visibility, management raised full-year 2026 guidance to 5%-6% organic growth, a 27%-27.3% adjusted EBITDA margin, and $8.70-$8.85 adjusted EPS. The softer spots were FMT and FSDP, where organic sales were roughly flat and margins slipped modestly on unfavorable mix and de-leverage, though management flagged an encouraging early inflection in both longer-lead OEM orders (water, mining) and classic short-cycle distribution demand. Leadership framed the results as validation of years of portfolio repositioning and 80/20 discipline, with gross leverage improving to 1.9x, ~$75 million/quarter buybacks continuing, and a high-intensity but proprietary bolt-on M&A pipeline aimed at reinforcing the growth platforms.