Let’s dig into the relative performance of SPX Technologies (NYSE: SPXC) and its peers as we unravel the now-completed Q4 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 slower Q4. As a group, revenues missed analysts’ consensus estimates by 1%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 8.1% since the latest earnings results.
Best Q4: SPX Technologies (NYSE: SPXC)
SPX Technologies (NYSE: SPXC) is an industrial conglomerate catering to the energy, manufacturing, automotive, and aerospace sectors.
SPX Technologies reported revenues of $533.7 million, up 13.7% year on year. This print was in line with analysts’ expectations, and overall, it was a very strong quarter for the company with an impressive beat of analysts’ EBITDA and organic revenue estimates.
SPX Technologies scored the fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 1.7% since reporting and currently trades at $134.08.
Standex (NYSE: SXI)
Holding over 500 patents globally, Standex (NYSE: SXI) is a manufacturer and distributor of industrial components for various sectors.
Standex reported revenues of $189.8 million, up 6.4% year on year, outperforming analysts’ expectations by 0.5%. The business had a satisfactory quarter with a solid beat of analysts’ EPS estimates but a miss of analysts’ EBITDA estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 6.6% since reporting. It currently trades at $174.10.
Is now the time to buy Standex? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: 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 $548.7 million, down 3.2% year on year, falling short of analysts’ expectations by 1.4%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates.
As expected, the stock is down 1.8% since the results and currently trades at $84.53.
Read our full analysis of Graco’s results here.
IDEX (NYSE: IEX)
Founded in 1988, IDEX (NYSE: IEX) is a global manufacturer specializing in highly engineered products such as pumps, flow meters, and fluidics systems for various industries.
IDEX reported revenues of $862.9 million, up 9.4% year on year. This result lagged analysts' expectations by 0.6%. It was a slower quarter with EPS guidance for next quarter missing analysts’ expectations.
The stock is down 15.6% since reporting and currently trades at $184.21.
Read our full, actionable report on IDEX 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 $1.11 billion, up 9% year on year. This number missed analysts’ expectations by 4.5%. More broadly, it was a satisfactory quarter as it also produced a solid beat of analysts’ backlog estimates but a significant miss of analysts’ EPS estimates.
Chart scored the highest full-year guidance raise but had the weakest performance against analyst estimates among its peers. The stock is down 16.2% since reporting and currently trades at $152.71.
Read our full, actionable report on Chart here, it’s free.
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