Columbus McKinnon CorporationColumbus McKinnon beat revenue expectations by 5.9% with 125% growth, stock up 21.6%.
General industrial machinery stocks reported strong second-quarter results, with the 12 companies tracked beating revenue consensus estimates by 2.6% while next quarter's revenue guidance came in 3.3% below expectations. Dover reported revenues of $2.19 billion, up 6.9% year on year, but fell short of analysts' expectations by 0.8%, and its stock is down 5.7% since reporting. Columbus McKinnon delivered the fastest revenue growth in the group, with revenues of $531.5 million, up 125% year on year, beating expectations by 5.9%, and its stock is up 21.6% since reporting. Albany had the weakest performance against analyst estimates, with revenues of $329.5 million, up 5.8% year on year, missing expectations by 3.1%. Illinois Tool Works reported revenues of $4.30 billion, up 6.1% year on year, surpassing expectations by 2.7%, while Kadant reported revenues of $312.9 million, up 22.6% year on year, topping expectations by 4.6%.
Columbus McKinnon CorporationColumbus McKinnon beat revenue expectations by 5.9% with 125% growth, stock up 21.6%.
Illinois Tool Works IncIllinois Tool Works surpassed revenue expectations by 2.7%.
Dover CorporationDover fell short of revenue expectations by 0.8%, stock down 5.7%.
Albany International CorporationAlbany missed revenue expectations by 3.1%, the weakest performance in the group.
Kadant IncKadant topped revenue expectations by 4.6%.