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 Q1. Today, we are looking at industrial machinery stocks, starting with 3D Systems NYSE:DDD.
Automation that increases efficiency and connected equipment that collects analyzable data have been trending, generating new demand for industrial machinery and components. Companies that innovate and create digitized solutions can spur sales and speed up replacement cycles while those resting on their laurels can see dwindling market positions. Like the broader industrials sector, industrial machinery and components companies are also 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 57 industrial machinery stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 2.9% while next quarter’s revenue guidance was 2.9% above.
Luckily, industrial machinery stocks have performed well with share prices up 10.4% on average since the latest earnings results.
3D Systems NYSE:DDD
Founded by the inventor of stereolithography, 3D Systems NYSE:DDD engineers, manufactures, and sells 3D printers and other related products to the aerospace, automotive, healthcare, and consumer goods industries.
3D Systems reported revenues of $95.54 million, up 1.1% year on year. This print exceeded analysts’ expectations by 3.6%. Overall, it was an incredible quarter for the company with a beat of analysts’ EPS and adjusted operating income estimates.
Interestingly, the stock is up 24.3% since reporting and currently trades at $3.12.
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 $176.6 million, up 7.7% year on year, outperforming analysts’ expectations by 3.5%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.
The market seems happy with the results as the stock is up 34.8% since reporting. It currently trades at $89.25.
Weakest Q1: Icahn Enterprises NASDAQ:IEP
Founded in 1987, Icahn Enterprises NASDAQ:IEP is a diversified holding company primarily engaged in investment and asset management across various sectors.
Icahn Enterprises reported revenues of $2.24 billion, up 19.8% year on year, falling short of analysts’ expectations by 4.1%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income and EPS estimates.
As expected, the stock is down 13.7% since the results and currently trades at $7.19.
Tennant NYSE:TNC
As the world’s largest manufacturer of autonomous mobile robots, Tennant NYSE:TNC designs, manufactures, and sells cleaning products to various sectors.
Tennant reported revenues of $297.9 million, up 2.7% year on year. This print beat analysts’ expectations by 3%. Overall, it was an exceptional quarter as it also put up a beat of analysts’ EPS and EBITDA estimates.
The stock is up 9.7% since reporting and currently trades at $89.93.
Proto Labs NYSE:PRLB
Pioneering the concept of online quoting and manufacturing for custom prototypes and low-volume production parts, Proto Labs NYSE:PRLB offers injection molding, 3D printing, and sheet metal fabrication for manufacturers in various industries.
Proto Labs reported revenues of $139.3 million, up 10.4% year on year. This result topped analysts’ expectations by 3%. It was an exceptional quarter as it also recorded EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Proto Labs had the weakest guidance update among its peers. The stock is up 24.5% since reporting and currently trades at $80.70.