The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how 3M (NYSE: MMM) and the rest of the general industrial machinery stocks fared in Q4.
Automation that increases efficiency and connected equipment that collects analyzable data have been trending, creating new demand for general industrial machinery companies. Those who innovate and create digitized solutions can spur sales and speed up replacement cycles, but all general industrial machinery companies are still 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 14 general industrial machinery stocks we track reported a slower Q4. As a group, revenues beat analysts’ consensus estimates by 2.6% while next quarter’s revenue guidance was 2.5% below.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.4% since the latest earnings results.
3M (NYSE: MMM)
Producers of the first asthma inhaler, 3M Company (NYSE: MMM) is a global conglomerate known for products in industries like healthcare, safety, electronics, and consumer goods.
3M reported revenues of $6.01 billion, flat year on year. This print exceeded analysts’ expectations by 4.5%. Overall, it was a satisfactory quarter for the company with a decent beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates.
The stock is up 9% since reporting and currently trades at $153.77.
Is now the time to buy 3M? Access our full analysis of the earnings results here, it’s free.
Best Q4: 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 $10.81 billion, up 14.3% year on year, outperforming analysts’ expectations by 13.7%. The business had a stunning quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
GE Aerospace pulled off the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 12.7% since reporting. It currently trades at $212.20.
Is now the time to buy GE Aerospace? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: 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 $286.9 million, down 11.3% year on year, falling short of analysts’ expectations by 4.2%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations.
Albany delivered the slowest revenue growth in the group. As expected, the stock is down 6.6% since the results and currently trades at $73.59.
Read our full analysis of Albany’s results here.
Otis (NYSE: OTIS)
Credited with inventing the first hydraulic passenger elevator, Otis Worldwide (NYSE: OTIS) is an elevator and escalator manufacturing, installation and service company.
Otis reported revenues of $3.68 billion, up 1.5% year on year. This result beat analysts’ expectations by 1%. Zooming out, it was a slower quarter as it logged a miss of analysts’ adjusted operating income estimates and full-year revenue guidance missing analysts’ expectations.
Otis scored the highest full-year guidance raise among its peers. The stock is up 5.3% since reporting and currently trades at $100.93.
Read our full, actionable report on Otis here, it’s free.
Dover (NYSE: DOV)
A company that manufactured critical equipment for the United States military during World War II, Dover (NYSE: DOV) manufactures engineered components and specialized equipment for numerous industries.
Dover reported revenues of $1.93 billion, up 1.3% year on year. This print missed analysts’ expectations by 1.1%. Overall, it was a slower quarter as it also recorded a significant miss of analysts’ adjusted operating income estimates and a slight miss of analysts’ organic revenue estimates.
The stock is down 5.3% since reporting and currently trades at $186.66.
Read our full, actionable report on Dover here, it’s free.
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