Yahoo Finance General Industrial Machinery Stocks Q1 Results: Benchmarking Honeywell (NASDAQ:HON)
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how general industrial machinery stocks fared in Q1, starting with Honeywell (NASDAQ:HON).
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 an ok Q1; on average, revenues missed analyst consensus estimates by 1.4%. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, but general industrial machinery stocks have shown resilience, with share prices up 6.4% on average since the previous earnings results.
Honeywell (NASDAQ:HON)
Originally founded in 1906 as a thermostat company, Honeywell (NASDAQ:HON) is an aerospace and defense manufacturing company building technologies, performance materials, and safety and productivity solutions.
Honeywell reported revenues of $9.11 billion, up 2.7% year on year, in line with analysts' expectations. Overall, it was a very strong quarter for the company with a solid beat of analysts' organic revenue estimates and a decent beat of analysts' earnings estimates.
"Honeywell delivered a strong start to 2024. Organic1 growth was led by double-digit growth in both our commercial aviation and defense and space businesses," said Vimal Kapur, chief executive officer of Honeywell.
The stock is up 11% since reporting and currently trades at $216.
Is now the time to buy Honeywell? Access our full analysis of the earnings results here, it's free.
Best Q1: L.B. Foster (NASDAQ:FSTR)
Founded with a $2,500 loan, L.B. Foster (NASDAQ:FSTR) is a provider of products and services for the transportation and energy infrastructure sectors, including rail products, construction materials, and coating solutions.
L.B. Foster reported revenues of $124.3 million, up 7.6% year on year, outperforming analysts' expectations by 12.7%. It was an incredible quarter for the company with an impressive beat of analysts' earnings estimates.
L.B. Foster scored the biggest analyst estimates beat among its peers. Although it had a great quarter compared its peers, the market seems unhappy with the results as the stock is down 6.5% since reporting. It currently trades at $22.74.
Is now the time to buy L.B. Foster? Access our full analysis of the earnings results here, it's free.
Slowest Q1: 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 $2.47 billion, down 7.7% year on year, falling short of analysts' expectations by 11.6%. It was a weak quarter for the company with a miss of analysts' earnings estimates.
The stock is flat since the results and currently trades at $17.28.
Read our full analysis of Icahn Enterprises's results here.
Crane Company (NYSE:CR)
Based in Connecticut, Crane Company (NYSE:CR) is a diversified manufacturer of engineered industrial products, including fluid handling, and aerospace technologies.
Crane Company reported revenues of $565.3 million, up 10% year on year, surpassing analysts' expectations by 3.5%. Taking a step back, it was a very good quarter for the company with an impressive beat of analysts' organic revenue estimates and a decent beat of analysts' earnings estimates.
The stock is up 17.4% since reporting and currently trades at $153.50.
Read our full, actionable report on Crane Company here, it's free.
Columbus McKinnon (NASDAQ:CMCO)
With 19 different brands across the globe, Columbus McKinnon (NASDAQGS:CMCO) offers material handling equipment for the construction, manufacturing, and transportation industries.
Columbus McKinnon reported revenues of $265.5 million, up 4.6% year on year, in line with analysts' expectations. Overall, it was a weak quarter for the company with a miss of analysts' earnings estimates.
The stock is down 14% since reporting and currently trades at $37.77.
Read our full, actionable report on Columbus McKinnon here, it's free.
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