Let’s dig into the relative performance of Parker-Hannifin (NYSE:PH) and its peers as we unravel the now-completed Q3 gas and liquid handling earnings season.
Gas and liquid handling companies possess the technical know-how and specialized equipment to handle valuable (and sometimes dangerous) substances. Lately, water conservation and carbon capture–which requires hydrogen and other gasses as well as specialized infrastructure–have been trending up, creating new demand for products such as filters, pumps, and valves. On the other hand, gas and liquid handling companies are 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 12 gas and liquid handling stocks we track reported a satisfactory Q3. As a group, revenues were in line with analysts’ consensus estimates while next quarter’s revenue guidance was 0.6% below.
Luckily, gas and liquid handling stocks have performed well with share prices up 10.4% on average since the latest earnings results.
Parker-Hannifin (NYSE:PH)
Founded in 1917, Parker Hannifin (NYSE:PH) is a manufacturer of motion and control systems for a wide variety of mobile, industrial and aerospace markets.
Parker-Hannifin reported revenues of $5.08 billion, up 3.7% year on year. This print exceeded analysts’ expectations by 2.9%. Overall, it was a very strong quarter for the company with full-year EPS guidance exceeding analysts’ expectations and a solid beat of analysts’ organic revenue estimates.
“Our global team produced record sales, segment operating margin, earnings per share and year-to-date cash flow,” said Jenny Parmentier, Chairman and Chief Executive Officer.
Interestingly, the stock is up 21.2% since reporting and currently trades at $938.35.
Is now the time to buy Parker-Hannifin? Access our full analysis of the earnings results here, it’s free.
Best Q3: SPX Technologies (NYSE:SPXC)
With roots dating back to 1912 as the Piston Ring Company, SPX Technologies (NYSE:SPXC) supplies specialized infrastructure equipment for HVAC systems and detection and measurement applications across industrial, commercial, and utility markets.
SPX Technologies reported revenues of $592.8 million, up 22.6% year on year, outperforming analysts’ expectations by 2.2%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.
The market seems happy with the results as the stock is up 6.2% since reporting. It currently trades at $211.07.
Is now the time to buy SPX Technologies? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: Graco (NYSE:GGG)
Founded in 1926, Graco (NYSE:GGG) is an industrial company specializing in the development and manufacturing of fluid-handling systems and products.
Graco reported revenues of $543.4 million, up 4.7% year on year, falling short of analysts’ expectations by 3%. It was a softer quarter as it posted a significant miss of analysts’ revenue estimates and a miss of analysts’ EBITDA estimates.
Interestingly, the stock is up 5.4% since the results and currently trades at $86.04.
Read our full analysis of Graco’s results here.
Gorman-Rupp (NYSE:GRC)
Powering fluid dynamics since 1934, Gorman-Rupp (NYSE:GRC) has evolved from its Ohio origins into a global manufacturer and seller of pumps and pump systems.
Gorman-Rupp reported revenues of $172.8 million, up 2.8% year on year. This result lagged analysts' expectations by 1%. It was a slower quarter as it also produced a significant miss of analysts’ EPS estimates and a slight miss of analysts’ revenue estimates.
Gorman-Rupp had the slowest revenue growth among its peers. The stock is up 3.9% since reporting and currently trades at $51.03.
Read our full, actionable report on Gorman-Rupp here, it’s free.
Chart (NYSE:GTLS)
Installing the first bulk Co2 tank for McDonalds’s sodas, Chart (NYSE:GTLS) provides equipment to store and transport gasses.
Chart reported revenues of $1.10 billion, up 3.6% year on year. This number missed analysts’ expectations by 6.3%. Overall, it was a slower quarter as it also logged a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.
Chart had the weakest performance against analyst estimates among its peers. The stock is up 3.6% since reporting and currently trades at $206.86.
Read our full, actionable report on Chart here, it’s free.
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