As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the general industrial machinery industry, including Columbus McKinnon (NASDAQ:CMCO) and its peers.
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 15 general industrial machinery stocks we track reported a mixed Q4. As a group, revenues missed analysts’ consensus estimates by 1.9% while next quarter’s revenue guidance was 1.5% below.
In light of this news, share prices of the companies have held steady as they are up 3.8% on average since the latest earnings results.
Columbus McKinnon (NASDAQ:CMCO)
With 19 different brands across the globe, Columbus McKinnon (NASDAQ:CMCO) offers material handling equipment for the construction, manufacturing, and transportation industries.
Columbus McKinnon reported revenues of $234.1 million, down 7.9% year on year. This print fell short of analysts’ expectations by 7%. Overall, it was a disappointing quarter for the company with a significant miss of analysts’ EBITDA and EPS estimates.
"The second half of our third quarter saw a slowing of industry demand. This was driven by delayed customer decision-making related to U.S. policy uncertainty, including tariffs as well as continued weakening in the European economies," said David J. Wilson, President and Chief Executive Officer.
Columbus McKinnon Total Revenue
The stock is down 50.5% since reporting and currently trades at $17.55.
With its magnesium alloys used in the construction of the famous Spirit of St. Louis aircraft, Luxfer (NYSE:LXFR) offers specialized materials, components, and gas containment devices to various industries.
Luxfer reported revenues of $97 million, up 8.5% year on year, outperforming analysts’ expectations by 11.9%. The business had an incredible quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Luxfer Total Revenue
Luxfer delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 17.5% since reporting. It currently trades at $11.74.
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 $1.87 billion, down 24.6% year on year, falling short of analysts’ expectations by 29%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates.
Icahn Enterprises delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 1.2% since the results and currently trades at $8.62.
Tracing back to its invention of the mechanical milk bottle filler in 1884, John Bean (NYSE:JBT) designs, manufactures, and sells equipment used for food processing and aviation.
John Bean reported revenues of $854.1 million, up 118% year on year. This number surpassed analysts’ expectations by 2.6%. It was a very strong quarter as it also produced an impressive beat of analysts’ EBITDA estimates and EPS guidance for next quarter exceeding analysts’ expectations.
John Bean achieved the fastest revenue growth among its peers. The stock is up 10.5% since reporting and currently trades at $118.35.
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 $288.8 million, down 7.8% year on year. This result came in 1.8% below analysts' expectations. Overall, it was a slower quarter as it also logged a significant miss of analysts’ adjusted operating income estimates and full-year revenue guidance slightly missing analysts’ expectations.
The stock is up 2.9% since reporting and currently trades at $67.50.
In response to the Fed’s rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed’s 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump’s presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025.
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