Q3 Earnings Outperformers: IDEX (NYSE:IEX) And The Rest Of The Gas and Liquid Handling Stocks

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the gas and liquid handling stocks, including IDEX (NYSE:IEX) and its peers.

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. On average, they are relatively unchanged since the latest earnings results.

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 print exceeded analysts’ expectations by 2%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ adjusted operating income and organic revenue estimates.

“Our IDEX teams executed well in the third quarter, delivering solid results in an uncertain macroeconomic environment. We are focused squarely on what we can control as we leverage our 8020 approach to drive momentum within our growth platforms. Our teams are effectively collaborating across businesses to support our fastest growing customers, and our results are strong evidence of this, positioning IDEX to deliver against targets for the second half of 2025,” said Eric D. Ashleman, IDEX Corporation Chief Executive Officer and President.

Unsurprisingly, the stock is down 3.2% since reporting and currently trades at $161.68.

Is now the time to buy IDEX? 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.

The market seems content with the results as the stock is up 2.9% since reporting. It currently trades at $204.47.

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.

As expected, the stock is down 3% since the results and currently trades at $79.14.

Read our full analysis of Graco’s results here.

Standex (NYSE:SXI)

Holding over 500 patents globally, Standex (NYSE:SXI) is a manufacturer and distributor of industrial components for various sectors.

Standex reported revenues of $217.4 million, up 27.6% year on year. This print topped analysts’ expectations by 0.7%. More broadly, it was a mixed quarter as it also logged a narrow beat of analysts’ revenue estimates but a miss of analysts’ EBITDA estimates.

Standex pulled off the fastest revenue growth among its peers. The stock is down 5.3% since reporting and currently trades at $226.28.

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

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 $1.96 billion, up 5.1% year on year. This result was in line with analysts’ expectations. Taking a step back, it was a mixed quarter as it also recorded a solid beat of analysts’ adjusted operating income estimates but full-year EBITDA guidance missing analysts’ expectations.

The stock is down 6.6% since reporting and currently trades at $73.57.

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

Market Update

As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.

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