Industrial manufacturer Standex (NYSE:SXI) will be reporting earnings this Thursday afternoon. Here’s what you need to know.
Standex beat analysts’ revenue expectations by 3.5% last quarter, reporting revenues of $222 million, up 23.2% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is Standex a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Standex’s revenue to grow 26.7% year on year to $216 million, a reversal from the 7.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.91 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Standex has only missed Wall Street’s revenue estimates once since going public and has exceeded top-line expectations by 0.3% on average.
Looking at Standex’s peers in the gas and liquid handling segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Flowserve delivered year-on-year revenue growth of 3.6%, missing analysts’ expectations by 2.7%, and Gorman-Rupp reported revenues up 2.8%, falling short of estimates by 1%. Gorman-Rupp traded down 5.6% following the results.
Read our full analysis of Flowserve’s results here and Gorman-Rupp’s results here.
There has been positive sentiment among investors in the gas and liquid handling segment, with share prices up 3.1% on average over the last month. Standex is up 16.8% during the same time and is heading into earnings with an average analyst price target of $213.40 (compared to the current share price of $242.63).
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