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Reflecting On Gas and Liquid Handling Stocks’ Q3 Earnings: Ingersoll Rand (NYSE:IR)

By: StockStory

January 23, 2025 at 04:02 AM EST

IR Cover Image

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 Ingersoll Rand (NYSE: IR).

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%.

Thankfully, share prices of the companies have been resilient as they are up 9.4% on average since the latest earnings results.

Ingersoll Rand (NYSE: IR)

Started with the invention of the steam drill, Ingersoll Rand (NYSE: IR) provides mission-critical air, gas, liquid, and solid flow creation solutions.

Ingersoll Rand reported revenues of $1.86 billion, up 7% year on year. This print fell short of analysts’ expectations by 0.7%. Overall, it was a mixed quarter for the company with an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ organic revenue estimates.

“Our Economic Growth Engine remains on track to deliver our long-term Investor Day targets of double-digit Adjusted EPS growth and strong free cash flow generation,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand.

Unsurprisingly, the stock is down 1.9% since reporting and currently trades at $94.23.

Is now the time to buy Ingersoll Rand? 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 an impressive 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 7.9% since reporting. It currently trades at $219.99.

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

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 $519.2 million, down 3.8% year on year, falling short of analysts’ expectations by 3.4%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates.

Interestingly, the stock is up 3.4% since the results and currently trades at $85.68.

Read our full analysis of Graco’s results here.

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 print met analysts’ expectations. Aside from that, it was a mixed quarter as it also logged a decent beat of analysts’ EBITDA estimates but organic revenue in line with analysts’ estimates.

The stock is up 6.2% since reporting and currently trades at $153.39.

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

SPX Technologies (NYSE: SPXC)

SPX Technologies (NYSE: SPXC) is an industrial conglomerate catering to the energy, manufacturing, automotive, and aerospace sectors.

SPX Technologies reported revenues of $483.7 million, up 7.8% year on year. This number came in 3.2% below analysts' expectations. It was a slower quarter as it also recorded a significant miss of analysts’ organic revenue estimates and full-year revenue guidance slightly missing analysts’ expectations.

SPX Technologies achieved the highest full-year guidance raise among its peers. The stock is down 3.3% since reporting and currently trades at $153.61.

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

Market Update

Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% each in November and December), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by the pace and magnitude of future rate cuts as well as potential changes in trade policy and corporate taxes once the Trump administration takes over. The path forward is marked by uncertainty.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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