Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Crane (NYSE: CR) 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 strong Q3. As a group, revenues beat analysts’ consensus estimates by 1.6% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 9.3% on average since the latest earnings results.

Crane (NYSE: CR)

Based in Connecticut, Crane (NYSE: CR) is a diversified manufacturer of engineered industrial products, including fluid handling, and aerospace technologies.

Crane reported revenues of $589.2 million, up 7.5% year on year. This print exceeded analysts’ expectations by 1.6%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ adjusted operating income estimates.

Max Mitchell, Crane's Chairman, President and Chief Executive Officer, stated: "We are proud to report another strong quarter, with adjusted EPS up 27% and core sales growth of 5.6%. This quarter’s earnings performance was ahead of our expectations, and further highlights our differentiated technology, commercial excellence focus and consistent operational discipline.

Interestingly, the stock is up 6.2% since reporting and currently trades at $203.25.

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

Best Q3: 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 $2.51 billion, down 9.9% year on year, outperforming analysts’ expectations by 4.3%. The business had an incredible quarter with a beat of analysts’ EPS and revenue estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 3% since reporting. It currently trades at $7.88.

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

Weakest Q3: Albany (NYSE: AIN)

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 $261.4 million, down 12.4% year on year, falling short of analysts’ expectations by 12.8%. It was a disappointing quarter as it posted a miss of analysts’ Engineered Composites revenue estimates and a significant miss of analysts’ revenue estimates.

Albany delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 6.7% since the results and currently trades at $58.28.

Read our full analysis of Albany’s results here.

Hillenbrand (NYSE: HI)

Hillenbrand, Inc. (NYSE: HI) is an industrial company that designs, manufactures, and sells highly engineered processing equipment and solutions for various industries.

Hillenbrand reported revenues of $652.1 million, down 22.1% year on year. This print surpassed analysts’ expectations by 9.8%. It was an incredible quarter as it also produced a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Hillenbrand had the slowest revenue growth among its peers. The stock is flat since reporting and currently trades at $31.82.

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

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 $261 million, up 7.7% year on year. This number beat analysts’ expectations by 8.5%. Overall, it was a stunning quarter as it also recorded a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

The stock is up 38% since reporting and currently trades at $20.77.

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

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