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Engineered Components and Systems Stocks Beat Q1 Revenue Estimates by 3.4%
Engineered components and systems stocks tracked by the publication reported a satisfactory first quarter, with revenues beating analysts' consensus estimates by 3.4% and next quarter's revenue guidance coming in 3.7% above expectations. Timken posted revenues of $1.23 billion, up 8% year on year and exceeding estimates by 5%, while Arrow Electronics led the group with revenues of $9.47 billion, a 39% increase that beat estimates by 12.9%. Worthington was the weakest performer, with revenues of $371.5 million missing estimates by 4%. Regal Rexnord and Park-Ohio also topped expectations, contributing to an average share price gain of 19.2% across the 13 companies since their latest earnings results.
ARW · Capital · Positive Arrow Electronics reported Q1 revenue of $9.47B, up 39% YoY and beating estimates by 12.9%.
TKR · Capital · Positive Timken posted Q1 revenue of $1.23B, up 8% YoY and exceeding estimates by 5%.
WOR · Capital · Negative Worthington Industries reported Q1 revenue of $371.5M, missing estimates by 4%.
PKOH · Capital · Positive Park-Ohio topped revenue expectations in Q1.
RRX · Capital · Positive Regal Rexnord topped revenue expectations in Q1.