Gas and Liquid Handling Stocks Q3 Recap: Benchmarking Standex (NYSE:SXI)

As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the gas and liquid handling industry, including Standex (NYSE:SXI) 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 13 gas and liquid handling stocks we track reported a slower Q3. As a group, revenues missed analysts’ consensus estimates by 2.2%.

In light of this news, share prices of the companies have held steady as they are up 5% on average since the latest earnings results.

Standex (NYSE:SXI)

Standex reported revenues of $170.5 million, down 7.7% year on year. This print fell short of analysts’ expectations by 4.7%. Overall, it was a slower quarter for the company with some shareholders anticipating a better outcome.

Commenting on the quarter's results, President and Chief Executive Officer David Dunbar said, "Following record profit and cash generation in fiscal year 2024, we delivered another solid operational performance in the fiscal first quarter with record gross margin. Sales from fast growth markets in electric vehicles, defense applications, and commercialization of space improved year-on-year, respectively, but were offset primarily by demand conditions affecting the soft trim business in our Engraving segment. In the fiscal first quarter, we achieved record gross margin of 41.1% and maintained adjusted operating margin near 16.0%, while continuing to support our growth initiatives. We remain optimistic about leading market indicators across most of our businesses."

Interestingly, the stock is up 2.4% since reporting and currently trades at $184.16.

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Best Q3: IDEX (NYSE:IEX)

IDEX reported revenues of $798.2 million, flat year on year, outperforming analysts’ expectations by 0.6%. The business had a satisfactory quarter with an impressive beat of analysts’ adjusted operating income estimates but a slight miss of analysts’ organic revenue estimates.

The market seems content with the results as the stock is up 2.4% since reporting. It currently trades at $208.79.

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 miss of analysts’ Contractor revenue estimates.

The stock is flat since the results and currently trades at $82.29.

ITT (NYSE:ITT)

ITT reported revenues of $885.2 million, up 7.7% year on year. This number met analysts’ expectations. More broadly, it was a mixed quarter as it also recorded a decent beat of analysts’ EBITDA estimates but organic revenue in line with analysts’ estimates.

The stock is down 1.1% since reporting and currently trades at $142.94.

Gorman-Rupp (NYSE:GRC)

Gorman-Rupp reported revenues of $168.2 million, flat year on year. This print missed analysts’ expectations by 2.5%. It was a disappointing quarter as it also produced a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.

The stock is down 2.1% since reporting and currently trades at $37.20.

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This content was originally published on Stock Story