Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Helios (NYSE:HLIO) and the best and worst performers in the gas and liquid handling industry.
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 5 gas and liquid handling stocks we track reported a very strong Q1; on average, revenues beat analyst consensus estimates by 2.8%. Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride, as the market switches between optimism and pessimism around rate cuts due to mixed inflation data, but gas and liquid handling stocks have shown resilience, with share prices up 5.6% on average since the previous earnings results.
Helios (NYSE:HLIO) Founded on the principle of treating others as one wants to be treated, Helios (NYSE:HLIO) designs, manufactures, and sells motion and electronic control components for various sectors.
Helios reported revenues of $212 million, flat year on year, exceeding analysts' expectations by 3.2%. Overall, it was a stunning quarter for the company with an impressive beat of analysts' organic revenue and earnings estimates.
The stock is down 6.4% since reporting and currently trades at $45.25.
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Best Q1: Flowserve (NYSE:FLS) Manufacturing the largest pump ever built for nuclear power generation, Flowserve (NYSE:FLS) manufactures and sells flow control equipment for various industries.
Flowserve reported revenues of $1.09 billion, up 10.9% year on year, outperforming analysts' expectations by 4.7%. It was an incredible quarter for the company with an impressive beat of analysts' earnings estimates.
Flowserve delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 6.5% since reporting. It currently trades at $50.29.
Weakest Q1: 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 $177.3 million, down 3.8% year on year, falling short of analysts' expectations by 1.6%. It was a weak quarter for the company with a miss of analysts' earnings estimates.
Standex posted the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 2% since the results and currently trades at $181.15.
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 $910.6 million, up 14.1% year on year, surpassing analysts' expectations by 3.1%. More broadly, it was an exceptional quarter for the company with an impressive beat of analysts' organic revenue estimates and a decent beat of analysts' earnings estimates.
The stock is up 7% since reporting and currently trades at $138.35.
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 $465.2 million, up 16.4% year on year, surpassing analysts' expectations by 4.6%. Zooming out, it was a very strong quarter for the company with an impressive beat of analysts' earnings estimates and a solid beat of analysts' organic revenue estimates.
SPX Technologies pulled off the fastest revenue growth among its peers. The stock is up 18.7% since reporting and currently trades at $145.01.
This content was originally published on Stock Story
