Transcat Inc — MarketDX

United States

TRNS▲2

Watsco Q2 Revenue Misses Estimates as Industrial Distributors Post Strong Quarter

Watsco reported second-quarter revenues of $2.10 billion, up 2.1% year on year but falling 1.9% short of analysts' expectations, in a quarter that saw the 24 industrial distributors stocks tracked by the report collectively beat consensus revenue estimates by 3.7%. The HVAC and refrigeration distributor also posted a significant miss of analysts' EPS estimates, and its stock is down 17.4% since reporting, trading at $303.57. Chairman and CEO Albert H. Nahmad said the quarter's performance was indicative of improving end-market stability after a busy period of regulatory transitions. Among peers, Transcat reported revenues of $92.95 million, up 21.6% year on year and 7.4% above expectations, while SiteOne posted $1.53 billion, up 4.7% but 0.7% below estimates, Alta Equipment Group reported $475.5 million, down 1.2% and 3.1% short, and Core & Main reported $2.15 billion, up 2.5% and in line with expectations. On average, shares of the group are down 5.2% since the latest earnings results.

WSO ▼ALTG ▼CNM SITE TRNS ▲

WSO · Capital · Negative Watsco's Q2 revenue of $2.10B missed estimates by 1.9% and EPS missed significantly, with shares down 17.4% since reporting.

ALTG · Capital · Negative Alta Equipment reported Q2 revenue of $475.5M, down 1.2% YoY and 3.1% below estimates.

CNM · Capital · Neutral Core & Main reported $2.15B revenue, up 2.5% and in line with expectations.

SITE · Capital · Neutral SiteOne posted $1.53B revenue, up 4.7% but 0.7% below estimates.

TRNS · Capital · Positive Transcat reported $92.95M revenue, up 21.6% YoY and 7.4% above expectations.

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United States

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WESCO and Transcat Lead Q2 Earnings Beats Among Maintenance and Repair Distributors

Maintenance and repair distributors reported an exceptional second quarter, with group revenues beating consensus estimates by 4%. WESCO posted revenue of $6.67 billion, up 13% year over year and 3.7% above expectations, while Transcat delivered the biggest analyst estimate beat of the group with revenue of $92.95 million, up 21.6% year over year. Fastenal, W.W. Grainger, and MSC Industrial Direct also exceeded revenue expectations, though W.W. Grainger had the weakest performance against analyst estimates. Share prices across the nine tracked companies have risen 5.9% on average since their latest earnings reports.

TRNS ▲WCC ▲FAST ▲MSM ▲GWW ▲

TRNS · Demand · Positive Transcat delivered biggest beat with revenue up 21.6% year over year.

WCC · Demand · Positive WESCO posted revenue up 13% year over year, beating expectations.

FAST · Demand · Positive Fastenal exceeded revenue expectations, indicating strong demand for its products.

MSM · Demand · Positive MSC Industrial Direct exceeded revenue expectations, reflecting solid demand.

GWW · Demand · Positive W.W. Grainger exceeded revenue expectations, though weakest among group.

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TRNS▲

Industrial Distributors Stocks Post Mixed Q1 Results

Industrial distributors stocks reported mixed first-quarter earnings, with the group's revenues beating analysts' consensus estimates by 2.1% while next-quarter revenue guidance came in 1.2% below expectations. DNOW led the group with revenues of $1.18 billion, up 97.5% year on year and exceeding estimates by 12.7%, though adjusted operating income missed significantly. Richardson Electronics posted the best quarter, with revenues of $55.47 million beating estimates by 4.4% and strong EPS and EBITDA beats, sending its stock up 53.9%. DXP was the weakest performer, with revenues of $521.7 million missing estimates by 1.9% and significant misses on adjusted operating income and EPS, causing its stock to fall 4.2%. Transcat and Boise Cascade also reported, with Transcat's revenues of $89.33 million slightly missing estimates but beating on operating income and EBITDA, while Boise Cascade's revenues of $1.50 billion topped estimates by 1.9% with solid beats on operating income and EPS.

RELL ▲DNOW ▲DXPE ▼BCC ▲TRNS ▲

RELL · Capital · Positive Richardson Electronics beat revenue estimates by 4.4% with strong EPS and EBITDA beats, stock up 53.9%.

DNOW · Capital · Positive DNOW's revenues beat estimates by 12.7%, though adjusted operating income missed significantly.

DXPE · Capital · Negative DXP's revenues missed estimates by 1.9% with significant misses on adjusted operating income and EPS.

BCC · Capital · Positive Boise Cascade's revenues topped estimates by 1.9% with solid beats on operating income and EPS.

TRNS · Capital · Positive Transcat's revenues slightly missed estimates but beat on operating income and EBITDA.

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TRNS2

Zacks Highlights Sensata Technologies and Transcat as Instruments Control Stocks to Watch

Zacks Equity Research identifies Sensata Technologies Holding plc and Transcat, Inc. as two instruments control stocks likely to beat short-term industry challenges. The Zacks Instruments – Control industry faces headwinds including unpredictable raw material prices, high capital expenditures, supply-chain disruptions from the prolonged Russia-Ukraine war and Middle East tensions, and high customer inventory levels, but benefits from demand for energy-efficient production and integrated software systems. Sensata, a global industrial technology company developing sensor-based solutions, has seen its stock soar 77.5% over the past year and carries a Zacks Rank #3 (Hold) with upward earnings estimate revisions. Transcat, which provides calibration and laboratory instrument services, gained 11.8% over the past year and also holds a Zacks Rank #3, delivering an average earnings surprise of 9.9% in the trailing four quarters. The industry has lagged the broader market, rising 5.2% over the past year compared with the S&P 500's 29.4% gain, and currently trades at a trailing 12-month EV/EBITDA of 9.74X.

ST TRNS

ST · · Neutral Mentioned as a stock to watch in a sector facing headwinds but with some tailwinds; no specific company news.

TRNS · · Neutral Mentioned as a stock to watch in a sector facing headwinds but with some tailwinds; no specific company news.

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