Industrials
Specialty Industrial Machinery
$25.80B
25K
Key insights and themes extracted from this filing
Q3 revenue increased slightly to $1.98B from $1.96B YoY. Organic growth was only 0.3%, with the majority of the increase attributed to acquisition-related revenue. This suggests underlying organic growth is weak.
Earnings from continuing operations increased to $312.9 million from $262.0 million YoY. This increase is primarily due to the after-tax gain on the sale of the minority owned equity investment, partially offset by higher selling, general and administrative expenses.
The effective tax rate increased to 19.0% from 17.7% for the three months ended September 30, 2024. The increase in the effective tax rate for the three months ended September 30, 2024 relative to the prior year comparable quarter was primarily driven by a gain on disposition.