Wrapping up Q4 earnings, we look at the numbers and key takeaways for the heavy machinery stocks, including Caterpillar (NYSE: CAT) and its peers.

Automation that increases efficiencies and connected equipment that collects analyzable data have been trending, creating new demand for heavy machinery and equipment companies. The gradual transition to clean energy also allows companies to innovate around emissions, potentially spurring replacement cycles that can accelerate revenue growth. On the other hand, heavy machinery companies are at the whim of economic cycles. Interest rates, for example, can greatly impact the commercial and residential construction that drives demand for these companies’ offerings.

The 19 heavy machinery stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 3.7% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 3.6% on average since the latest earnings results.

Caterpillar (NYSE: CAT)

With its iconic yellow machinery working on construction sites, Caterpillar (NYSE: CAT) manufactures construction equipment like bulldozers, excavators, and parts and maintenance services.

Caterpillar reported revenues of $19.13 billion, up 18% year on year. This print exceeded analysts’ expectations by 7.8%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ revenue estimates.

"Our centennial year marked a significant milestone, underscored by the highest full-year sales and revenues in Caterpillar's history and a single-quarter record of $19.1 billion," said Caterpillar CEO Joe Creed.

Interestingly, the stock is up 12.3% since reporting and currently trades at $722.15.

Is now the time to buy Caterpillar? Access our full analysis of the earnings results here, it’s free.

Best Q4: Astec (NASDAQ: ASTE)

Inventing the first ever double-barrel hot-mix asphalt plant, Astec (NASDAQ: ASTE) provides machines and equipment for building roads, processing raw materials, and producing concrete.

Astec reported revenues of $400.6 million, up 11.6% year on year, outperforming analysts’ expectations by 7.1%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 5.8% since reporting. It currently trades at $61.89.

Is now the time to buy Astec? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Alamo (NYSE: ALG)

Expanding its markets through acquisitions since its founding, Alamo (NSYE:ALG) designs, manufactures, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural use.

Alamo reported revenues of $373.7 million, down 3% year on year, falling short of analysts’ expectations by 7.8%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.

Alamo delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 15.2% since the results and currently trades at $185.

Read our full analysis of Alamo’s results here.

Terex (NYSE: TEX)

With humble beginnings as a dump truck company, Terex (NYSE: TEX) today manufactures lifting and material handling equipment designed to move and hoist heavy goods and materials.

Terex reported revenues of $1.32 billion, up 6.2% year on year. This result surpassed analysts’ expectations by 0.8%. Taking a step back, it was a mixed quarter as it also produced full-year EBITDA guidance exceeding analysts’ expectations but a significant miss of analysts’ EBITDA estimates.

Terex had the weakest full-year guidance update among its peers. The stock is up 12.3% since reporting and currently trades at $66.54.

Read our full, actionable report on Terex here, it’s free.

PACCAR (NASDAQ: PCAR)

Founded more than a century ago, PACCAR (NASDAQ: PCAR) designs and manufactures commercial trucks of various weights and sizes for the commercial trucking industry.

PACCAR reported revenues of $6.82 billion, down 13.7% year on year. This number topped analysts’ expectations by 2.5%. Overall, it was a very strong quarter as it also produced an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ revenue estimates.

The stock is flat since reporting and currently trades at $121.34.

Read our full, actionable report on PACCAR here, it’s free.

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