Gas and Liquid Handling Stocks Q3 Earnings: IDEX (NYSE:IEX) Best of the Bunch

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at gas and liquid handling stocks, starting with IDEX (NYSE:IEX).

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 13 gas and liquid handling stocks we track reported a slower Q3. As a group, revenues missed analysts’ consensus estimates by 2.2%.

Luckily, gas and liquid handling stocks have performed well with share prices up 14.5% on average since the latest earnings results.

Best Q3: IDEX (NYSE:IEX)

IDEX reported revenues of $798.2 million, flat year on year. This print exceeded analysts’ expectations by 0.6%. Overall, it was a satisfactory quarter for the company with an impressive beat of analysts’ adjusted operating income estimates but a slight miss of analysts’ organic revenue estimates.

“We are encouraged by our third quarter performance. The teams within our Fluid & Metering Technologies and Fire & Safety / Diversified Products segments drove organic growth against an uncertain economic backdrop while delivering strong margins through operational execution,” said Eric D. Ashleman, IDEX Corporation Chief Executive Officer and President.

Interestingly, the stock is up 12.1% since reporting and currently trades at $228.40.

Is now the time to buy IDEX? Find out by reading the original article on StockStory, it’s free.

ITT (NYSE:ITT)

ITT reported revenues of $885.2 million, up 7.7% year on year, in line with analysts’ expectations. The business performed better than its peers, but it was unfortunately a mixed quarter with a decent beat of analysts’ EBITDA estimates but organic revenue in line with analysts’ estimates.

The market seems happy with the results as the stock is up 7.3% since reporting. It currently trades at $154.98.

Weakest Q3: Graco (NYSE:GGG)

Graco reported revenues of $519.2 million, down 3.8% year on year, falling short of analysts’ expectations by 3.4%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates.

Interestingly, the stock is up 8.7% since the results and currently trades at $90.12.

Standex (NYSE:SXI)

Standex reported revenues of $170.5 million, down 7.7% year on year. This number came in 4.7% below analysts' expectations. Overall, it was a slower quarter for the company.

The stock is up 16.4% since reporting and currently trades at $209.24.

Donaldson (NYSE:DCI)

Donaldson reported revenues of $900.1 million, up 6.4% year on year. This print beat analysts’ expectations by 0.9%. Aside from that, it was a mixed quarter as it also recorded full-year EPS guidance slightly topping analysts’ expectations but a slight miss of analysts’ adjusted operating income estimates.

The stock is down 6.9% since reporting and currently trades at $72.67.

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This content was originally published on Stock Story