Let’s dig into the relative performance of Stratasys (NASDAQ: SSYS) and its peers as we unravel the now-completed Q3 industrial machinery earnings season.

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 54 industrial machinery stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 1.4% while next quarter’s revenue guidance was in line.

While some industrial machinery stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.2% since the latest earnings results.

Stratasys (NASDAQ: SSYS)

Born from the Founder’s idea of making a toy frog with a glue gun, Stratasys (NASDAQ: SSYS) offers 3D printers and related materials, software, and services to many industries.

Stratasys reported revenues of $137 million, down 2.2% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with a beat of analysts’ EPS estimates but a miss of analysts’ Services revenue estimates.

"Our third quarter results demonstrate the resilience of our business model that enabled us to deliver solid operating cash flow and positive adjusted earnings per share, through the combination of strong recurring revenues, disciplined cost management and operational excellence," said Dr. Yoav Zeif, CEO of Stratasys.

Unsurprisingly, the stock is down 5.8% since reporting and currently trades at $8.98.

Read our full report on Stratasys here, it’s free for active Edge members.

Best Q3: 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 $2.51 billion, down 9.9% year on year, outperforming analysts’ expectations by 4.3%. The business had an incredible quarter with a beat of analysts’ EPS and revenue estimates.

The market seems happy with the results as the stock is up 7.9% since reporting. It currently trades at $8.76.

Is now the time to buy Icahn Enterprises? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Albany (NYSE: AIN)

Founded in 1895, Albany (NYSE: AIN) is a global textiles and materials processing company, specializing in machine clothing for paper mills and engineered composite structures for aerospace and other industries.

Albany reported revenues of $261.4 million, down 12.4% year on year, falling short of analysts’ expectations by 12.8%. It was a disappointing quarter as it posted a miss of analysts’ Engineered Composites revenue and revenue estimates.

Albany delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 17.2% since the results and currently trades at $45.18.

Read our full analysis of Albany’s results here.

GE Aerospace (NYSE: GE)

One of the original 12 companies on the Dow Jones Industrial Average, General Electric (NYSE: GE) is a multinational conglomerate providing technologies for various sectors including aviation, power, renewable energy, and healthcare.

GE Aerospace reported revenues of $12.18 billion, up 36.2% year on year. This print beat analysts’ expectations by 11.7%. It was an exceptional quarter as it also logged an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is flat since reporting and currently trades at $305.49.

Read our full, actionable report on GE Aerospace here, it’s free for active Edge members.

Mayville Engineering (NYSE: MEC)

Originally founded solely on tool and die manufacturing, Mayville Engineering Company (NYSE: MEC) specializes in metal fabrication, tube bending, and welding to be used in various industries.

Mayville Engineering reported revenues of $144.3 million, up 6.6% year on year. This number topped analysts’ expectations by 2.8%. Overall, it was an exceptional quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is down 11.1% since reporting and currently trades at $16.03.

Read our full, actionable report on Mayville Engineering here, it’s free for active Edge members.

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 2024, a quarter in November) have propped up markets, 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.

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