Q1 earnings report for engineered components and systems industry - mixed results for various companies.

From StockStory – Barchart: 2024-07-03 06:42:16

The Q1 earnings season for the engineered components and systems industry showcased a mix of performance, with Applied Industrial (NYSE:AIT) reporting revenues of $1.15 billion, up 1.3% year on year, and topping analyst expectations. Despite a slower quarter, the company’s stock is up 3.2%. In contrast, Arrow Electronics (NYSE:ARW) reported revenues of $6.92 billion, down 20.7% year on year, falling short of expectations and leading to a 4.4% stock decline. Graham Corporation (NYSE:GHM) outshined its peers, with revenues of $49.07 million, up 14% year on year, and a stock increase of 9.2%. Mayville Engineering (NYSE:MEC) also saw success, with revenues of $161.3 million, up 13.1% year on year, and a stock increase of 18.1%. RBC Bearings (NYSE:RBC) reported revenues of $413.7 million, up 4.9% year on year, with a 1.1% stock increase since the results.



Read more at StockStory – Barchart: AIT) And The Rest Of The Engineered Components and Systems Stocks