Looking back on gas and liquid handling stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including Donaldson (NYSE: DCI) and its peers.
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 strong Q2. As a group, revenues beat analysts’ consensus estimates by 2% while next quarter’s revenue guidance was 0.8% below.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 6% since the latest earnings results.
Donaldson (NYSE: DCI)
Playing a vital role in the historic Apollo 11 mission, Donaldson (NYSE: DCI) manufacturers and sells filtration equipment for various industries.
Donaldson reported revenues of $1.06 billion, up 8% year on year. This print exceeded analysts’ expectations by 1.3%. Overall, it was a satisfactory quarter for the company with a solid beat of analysts’ EBITDA estimates but full-year EPS guidance slightly missing analysts’ expectations.
Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 5.7% since reporting and currently trades at $87.97.
Is now the time to buy Donaldson? Access our full analysis of the earnings results here, it’s free.
Best Q2: 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 $679 million, up 22.9% year on year, outperforming analysts’ expectations by 5.8%. The business had a stunning quarter with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ EBITDA estimates.
SPX Technologies achieved the highest full-year guidance raise in the group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 16.8% since reporting. It currently trades at $165.85.
Is now the time to buy SPX Technologies? Access our full analysis of the earnings results here, it’s free.
Slowest Q2: 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 $590.6 million, up 3.3% year on year, falling short of analysts’ expectations by 3%. It was a slower quarter, leaving some shareholders looking for more.
Graco delivered the weakest performance against analyst estimates of the whole group. Interestingly, the stock is up 10.6% since the results and currently trades at $81.74.
Read our full analysis of Graco’s results here.
ITT (NYSE: ITT)
Playing a crucial role in the development of the first transatlantic television transmission in 1956, ITT (NYSE: ITT) provides motion and fluid handling equipment for various industries.
ITT reported revenues of $1.47 billion, up 51.5% year on year. This print beat analysts’ expectations by 5.9%. Overall, it was a stunning quarter as it also put up an impressive beat of analysts’ organic revenue estimates and full-year EPS guidance exceeding analysts’ expectations.
ITT achieved the biggest analyst estimate beat and fastest revenue growth among its peers. The stock is down 2.7% since reporting and currently trades at $198.55.
Read our full, actionable report on ITT here, it’s free.
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 $5.76 billion, up 9.8% year on year. This result topped analysts’ expectations by 3.3%. It was an exceptional quarter as it also logged an impressive beat of analysts’ organic revenue estimates and full-year EPS guidance beating analysts’ expectations.
The stock is down 2.7% since reporting and currently trades at $969.99.
Read our full, actionable report on Parker-Hannifin here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
