The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how general industrial machinery stocks fared in Q3, starting with Dover (NYSE:DOV).
Automation that increases efficiency and connected equipment that collects analyzable data have been trending, creating new demand for general industrial machinery companies. Those who innovate and create digitized solutions can spur sales and speed up replacement cycles, but all general industrial machinery companies are still at the whim of economic cycles. Consumer spending and interest rates, for example, can greatly impact the industrial production that drives demand for these companies’ offerings.
The 15 general industrial machinery stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 1.6% while next quarter’s revenue guidance was in line.
Thankfully, share prices of the companies have been resilient as they are up 6.6% on average since the latest earnings results.
Dover (NYSE:DOV)
A company that manufactured critical equipment for the United States military during World War II, Dover (NYSE:DOV) manufactures engineered components and specialized equipment for numerous industries.
Dover reported revenues of $2.08 billion, up 4.8% year on year. This print fell short of analysts’ expectations by 1%. Overall, it was a slower quarter for the company with a significant miss of analysts’ adjusted operating income and organic revenue estimates.
Interestingly, the stock is up 20.5% since reporting and currently trades at $201.97.
Read our full report on Dover here, it’s free.
Best Q3: Icahn Enterprises (NASDAQ:IEP)
Founded in 1987, Icahn Enterprises (NASDAQ: IEP) is a diversified holding company primarily engaged in investment and asset management across various sectors.
Icahn Enterprises reported revenues of $2.51 billion, down 9.9% year on year, outperforming analysts’ expectations by 4.3%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.
Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 3.6% since reporting. It currently trades at $7.83.
Is now the time to buy Icahn Enterprises? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: Albany (NYSE:AIN)
Founded in 1895, Albany (NYSE:AIN) is a global textiles and materials processing company, specializing in machine clothing for paper mills and engineered composite structures for aerospace and other industries.
Albany reported revenues of $261.4 million, down 12.4% year on year, falling short of analysts’ expectations by 12.8%. It was a disappointing quarter as it posted a miss of analysts’ Engineered Composites revenue estimates.
Albany delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 1.2% since the results and currently trades at $55.24.
Read our full analysis of Albany’s results here.
Luxfer (NYSE:LXFR)
With its magnesium alloys used in the construction of the famous Spirit of St. Louis aircraft, Luxfer (NYSE:LXFR) offers specialized materials, components, and gas containment devices to various industries.
Luxfer reported revenues of $92.9 million, down 6.5% year on year. This print met analysts’ expectations. Overall, it was an exceptional quarter as it also logged an impressive beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.
The stock is up 6.6% since reporting and currently trades at $14.08.
Read our full, actionable report on Luxfer here, it’s free.
GE Aerospace (NYSE:GE)
One of the original 12 companies on the Dow Jones Industrial Average, General Electric (NYSE:GE) is a multinational conglomerate providing technologies for various sectors including aviation, power, renewable energy, and healthcare.
GE Aerospace reported revenues of $12.18 billion, up 23.8% year on year. This result surpassed analysts’ expectations by 17.6%. It was an exceptional quarter as it also recorded an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ adjusted operating income estimates.
GE Aerospace scored the biggest analyst estimates beat among its peers. The stock is up 3.9% since reporting and currently trades at $314.72.
Read our full, actionable report on GE Aerospace here, it’s free.
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