The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how 3M (NYSE:MMM) and the rest of the general industrial machinery stocks fared in Q4.
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 a slower Q4. As a group, revenues beat analysts’ consensus estimates by 2.6% while next quarter’s revenue guidance was 2.5% below.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.4% since the latest earnings results.
Producers of the first asthma inhaler, 3M Company (NYSE:MMM) is a global conglomerate known for products in industries like healthcare, safety, electronics, and consumer goods.
3M reported revenues of $6.01 billion, flat year on year. This print exceeded analysts’ expectations by 4.5%. Overall, it was a satisfactory quarter for the company with a decent beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates.
The stock is up 9% since reporting and currently trades at $153.77.
Is now the time to buy 3M? Access our full analysis of the earnings results here, it’s free.
One of the original 12 companies on the Dow Jones Industrial Average, General Electric (NYSE:GE) is a multinational conglomerate providing technologies for various sectors including aviation, power, renewable energy, and healthcare.
GE Aerospace reported revenues of $10.81 billion, up 14.3% year on year, outperforming analysts’ expectations by 13.7%. The business had a stunning quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
GE Aerospace pulled off the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 12.7% since reporting. It currently trades at $212.20.
Is now the time to buy GE Aerospace? Access our full analysis of the earnings results here, it’s free.
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.
