Industrial Stocks’ Earnings on Oct 24: ALLE, FBHS & More
This week is slated to see a number of releases from S&P 500 companies.
It’s worth mentioning that roughly 16.8% of the S&P 500 members reported results till Oct 19. Earnings of these companies collectively increased 19.2% year over year and revenues expanded 8.4%. Earnings and sales beats were 82.1% and 61.9%, respectively.
For the S&P 500 group, earnings in the third quarter are projected to grow 19.2% year over year while revenues are anticipated to increase 7.2%.
Here we talk about Industrial Products — one of the 16 Zacks sectors. This sector is one of the fourteen sectors that are expected to record year-over-year earnings growth in the third quarter of 2018. Specifically, the sector’s earnings are predicted to grow 18.7% year over year on revenue growth of 7.4%.
This sector stands to gain from expanding industrial production, rising demand for machinery made in the country, healthy job market, favorable tax policy changes implemented in December 2017 and infrastructural development. However, trade tension between the United States and foreign nations, especially China — induced by imposition of import tariffs on steel, aluminum and many other items — is adversely impacting corporate margins.
Below, we briefly discussed what we expect from the four industrial stocks ALLE, FBHS, SWK and PRLB, which are slated to report their numbers for the July-September quarter on Oct 25.
Allegion plc ALLE: The company will release third-quarter results before the market opens. Allegion delivered better-than-expected results in two of the last four quarters, while lagged estimates once and matched estimates once. The average earnings surprise was a positive 4.38%.
Allegion PLC Price, Consensus and EPS Surprise
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Stanley Black & Decker, Inc. (SWK): Free Stock Analysis Report
Allegion PLC (ALLE): Free Stock Analysis Report
Fortune Brands Home & Security, Inc. (FBHS): Free Stock Analysis Report
Proto Labs, Inc. (PRLB): Free Stock Analysis Report
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