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)

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 $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? Access our full analysis of the earnings results here, it’s free.

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 $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.

Is now the time to buy ITT? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: 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 $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.

Read our full analysis of Graco’s results here.

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 $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.

Read our full, actionable report on Standex here, it’s free.

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 $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.

Read our full, actionable report on Donaldson here, it’s free.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September, a quarter in November) have kept 2024 stock markets frothy, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there's still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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