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 Flowserve (NYSE: FLS).

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 11 gas and liquid handling stocks we track reported a satisfactory Q3. As a group, revenues were in line with analysts’ consensus estimates while next quarter’s revenue guidance was 0.6% below.

In light of this news, share prices of the companies have held steady as they are up 4.7% on average since the latest earnings results.

Flowserve (NYSE: FLS)

Manufacturing the largest pump ever built for nuclear power generation, Flowserve (NYSE: FLS) manufactures and sells flow control equipment for various industries.

Flowserve reported revenues of $1.17 billion, up 3.6% year on year. This print fell short of analysts’ expectations by 2.7%, but it was still a very strong quarter for the company with an impressive beat of analysts’ backlog estimates and a solid beat of analysts’ EBITDA estimates.

“Flowserve delivered another quarter of exceptional performance highlighted by strong revenue growth, significant margin and earnings expansion, and robust cash generation. This performance enabled us to repurchase over $140 million shares during the quarter. Consistent execution of our strategy has enabled us to maintain momentum, led by the strength of our aftermarket franchise and a resurgent Power and Nuclear end market fueled by growth of AI, increasing data center development, and broader electrification trends. We remain focused on leveraging the Flowserve Business System and our 80/20 initiatives to accelerate margin expansion, deliver outsized growth, and execute with excellence,” said Scott Rowe, Flowserve’s President and Chief Executive Officer.

Interestingly, the stock is up 31.6% since reporting and currently trades at $69.33.

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

Best Q3: SPX Technologies (NYSE: SPXC)

With roots dating back to 1912 as the Piston Ring Company, SPX Technologies (NYSE: SPXC) supplies specialized infrastructure equipment for HVAC systems and detection and measurement applications across industrial, commercial, and utility markets.

SPX Technologies reported revenues of $592.8 million, up 22.6% year on year, outperforming analysts’ expectations by 2.2%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

The market seems content with the results as the stock is up 4.9% since reporting. It currently trades at $208.54.

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

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 $543.4 million, up 4.7% year on year, falling short of analysts’ expectations by 3%. It was a softer quarter as it posted a miss of analysts’ Contractor revenue estimates and a significant miss of analysts’ revenue estimates.

Interestingly, the stock is up 1.7% since the results and currently trades at $82.98.

Read our full analysis of Graco’s results here.

Parker-Hannifin (NYSE: PH)

Founded in 1917, Parker Hannifin (NYSE: PH) is a manufacturer of motion and control systems for a wide variety of mobile, industrial and aerospace markets.

Parker-Hannifin reported revenues of $5.08 billion, up 3.7% year on year. This result surpassed analysts’ expectations by 2.9%. It was a very strong quarter as it also put up full-year EPS guidance exceeding analysts’ expectations and a solid beat of analysts’ organic revenue estimates.

The stock is up 12.3% since reporting and currently trades at $869.18.

Read our full, actionable report on Parker-Hannifin here, it’s free for active Edge members.

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 $878.7 million, up 10.1% year on year. This number beat analysts’ expectations by 2%. Overall, it was a very strong quarter as it also produced a solid beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ organic revenue estimates.

The stock is up 6.7% since reporting and currently trades at $178.20.

Read our full, actionable report on IDEX 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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