Wrapping up Q3 earnings, we look at the numbers and key takeaways for the general industrial machinery stocks, including L.B. Foster (NASDAQ: FSTR) 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 1.9% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 4.6% on average since the latest earnings results.

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 $138.3 million, flat year on year. This print fell short of analysts’ expectations by 10.4%. Overall, it was a softer quarter for the company with a significant miss of analysts’ revenue and EBITDA estimates.

John Kasel, President and Chief Executive Officer, commented, "We continued on a favorable trend in the third quarter, although the modest sales growth resulted in lower profitability compared to last year's high point realized in Q3. Sales were up 0.6%, while Adjusted EBITDA was down 7.9% driven primarily by lower margins for Precast Concrete within Infrastructure. Rail margins were also slightly lower, but this was primarily volume-timing related. With the improved customer demand and higher backlog in place, we expect a strong fourth quarter for both segments."

Interestingly, the stock is up 10% since reporting and currently trades at $30.15.

Read our full report on L.B. Foster 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 estimates and an impressive beat of analysts’ revenue estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 4.3% since reporting. It currently trades at $7.76.

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 1.7% since the results and currently trades at $55.50.

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 number surpassed analysts’ expectations by 9.8%. It was an incredible quarter as it also logged a beat of analysts’ EPS and EBITDA estimates.

Hillenbrand had the slowest revenue growth among its peers. The stock is flat since reporting and currently trades at $31.92.

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

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 $581 million, up 6.8% year on year. This result topped analysts’ expectations by 1.9%. Overall, it was a very strong quarter as it also recorded an impressive beat of analysts’ organic revenue and adjusted operating income estimates.

The stock is down 13% since reporting and currently trades at $182.41.

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

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