The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how gas and liquid handling stocks fared in Q3, starting with Gorman-Rupp (NYSE:GRC).

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 14.4% on average since the latest earnings results.

Gorman-Rupp (NYSE:GRC)

Powering fluid dynamics since 1934, Gorman-Rupp (NYSE:GRC) has evolved from its Ohio origins into a global manufacturer and seller of pumps and pump systems.

Gorman-Rupp reported revenues of $168.2 million, flat year on year. This print fell short of analysts’ expectations by 2.5%. Overall, it was a disappointing quarter for the company with a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 11.6% since reporting and currently trades at $42.41.

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

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, outperforming analysts’ expectations by 0.6%. The business had a satisfactory quarter with a solid beat of analysts’ adjusted operating income estimates but a slight miss of analysts’ organic revenue estimates.

The market seems happy with the results as the stock is up 11.8% since reporting. It currently trades at $227.87.

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

Weakest Q3: CECO (NASDAQ:CECO)

Started in a Cincinnati garage, CECO (NASDAQ:CECO) is a global provider of industrial air quality and fluid handling systems.

CECO reported revenues of $135.5 million, down 9.3% year on year, falling short of analysts’ expectations by 13.1%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations significantly.

CECO delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 23.1% since the results and currently trades at $32.36.

Read our full analysis of CECO’s results here.

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 number beat analysts’ expectations by 0.9%. Taking a step back, it was a mixed quarter as it also recorded full-year EPS guidance slightly topping analysts’ expectations.

The stock is down 6.7% since reporting and currently trades at $72.86.

Read our full, actionable report on Donaldson 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. This number was in line with analysts’ expectations. More broadly, it was a mixed quarter as it also produced a decent beat of analysts’ EBITDA estimates but organic revenue in line with analysts’ estimates.

The stock is up 8.5% since reporting and currently trades at $156.84.

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

Market Update

As a result of the Fed's rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed's 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump's victory in the US Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain. Said differently, there's still much uncertainty around 2025.

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

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