Spotting Winners: Nordson (NASDAQ:NDSN) And Professional Tools and Equipment Stocks In Q1
Automation that increases efficiency and connected equipment that collects analyzable data have been trending, creating new demand. Some professional tools and equipment companies also provide software to accompany measurement or automated machinery, adding a stream of recurring revenues to their businesses. On the other hand, professional tools and equipment companies are at the whim of economic cycles. Consumer spending and interest rates, for example, can greatly impact the industrial production that drives demand for these companies' offerings.
The 10 professional tools and equipment stocks we track reported a mixed Q1. As a group, revenues missed analysts' consensus estimates by 3.2% while next quarter's revenue guidance was 1.1% above.
Thankfully, share prices of the companies have been resilient as they are up 6.1% on average since the latest earnings results.
Nordson (NASDAQ:NDSN)
Founded in 1954, Nordson Corporation (NASDAQ:NDSN) manufactures dispensing equipment and industrial adhesives, sealants and coatings.
Nordson reported revenues of $682.9 million, up 5% year on year. This print exceeded analysts' expectations by 1.1%. Overall, it was a satisfactory quarter for the company with EPS guidance for next quarter topping analysts' expectations but organic revenue in line with analysts' estimates.
Commenting on the Company's fiscal 2025 second quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, 'We started the second quarter with increasing momentum in order entry, and our results outperformed the mid-point of our sales and earnings guidance. This was driven by strength in our electronics systems sales and steady growth in nonwovens systems, precision agriculture and medical fluid components. Also, our Atrion acquisition continues to perform above expectations. As expected, this growth was partially offset by year-over-year weakness in industrial systems sales, which improved sequentially compared to the first quarter. Operational excellence drove strong profit performance of 32% EBITDA despite the uncertain geopolitical environment. We also maintained our sound balance sheet and bought back $85 million in shares during this dynamic quarter.'
Nordson scored the fastest revenue growth of the whole group. Unsurprisingly, the stock is up 9.5% since reporting and currently trades at $214.30.
Is now the time to buy Nordson? Access our full analysis of the earnings results here, it's free.
Best Q1: ESAB (NYSE:ESAB)
Having played a significant role in the construction of the iconic Sydney Opera House, ESAB (NYSE:ESAB) manufactures and sells welding and cutting equipment for numerous industries.
ESAB reported revenues of $678.1 million, down 1.7% year on year, outperforming analysts' expectations by 2.2%. The business had a very strong quarter with a solid beat of analysts' EBITDA estimates and an impressive beat of analysts' adjusted operating income estimates.
The market seems happy with the results as the stock is up 6.6% since reporting. It currently trades at $128.04.
Is now the time to buy ESAB? Access our full analysis of the earnings results here, it's free.
Weakest Q1: Hyster-Yale Materials Handling (NYSE:HY)
Playing a significant role in the development of the hydraulic lift truck, Hyster-Yale (NYSE:HY) designs, manufactures, and sells materials handling equipment to various sectors.
Hyster-Yale Materials Handling reported revenues of $910.4 million, down 13.8% year on year, falling short of analysts' expectations by 3.9%. It was a disappointing quarter as it posted a significant miss of analysts' EBITDA estimates and a miss of analysts' EPS estimates.
Hyster-Yale Materials Handling delivered the slowest revenue growth in the group. Interestingly, the stock is up 2.3% since the results and currently trades at $41.45.
Read our full analysis of Hyster-Yale Materials Handling's results here.
Stanley Black & Decker (NYSE:SWK)
With an iconic 'STANLEY' logo which has remained virtually unchanged for over a century, Stanley Black & Decker (NYSE:SWK) is a manufacturer primarily catering to the tool and outdoor equipment industry.
Stanley Black & Decker reported revenues of $3.74 billion, down 3.2% year on year. This number topped analysts' expectations by 1.7%. Aside from that, it was a satisfactory quarter as it also produced a solid beat of analysts' EPS estimates but a miss of analysts' adjusted operating income estimates.
The stock is up 13.4% since reporting and currently trades at $69.36.
Read our full, actionable report on Stanley Black & Decker here, it's free.
Kennametal (NYSE:KMT)
Involved in manufacturing hard tips of anti-tank projectiles in World War II, Kennametal (NYSE:KMT) is a provider of industrial materials and tools for various sectors.
Kennametal reported revenues of $486.4 million, down 5.7% year on year. This print was in line with analysts' expectations. It was a very strong quarter as it also produced a solid beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates.
Kennametal scored the highest full-year guidance raise among its peers. The stock is up 23.7% since reporting and currently trades at $24.51.
Read our full, actionable report on Kennametal here, it's free.
Market Update
Thanks to the Fed's rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn't send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump's November win lit a fire under major indices and sent them to all-time highs. However, there's still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
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Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements except as required under the securities laws. In addition to those factors described in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in our Current reports on Form 8-K, under "Risk Factors," and elsewhere therein, among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates, and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations, the impact of tariffs, and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth. 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Tecogen Media & Investor Relations Contact Information:Abinand RangeshP: 781-466-6487E: TECOGEN CONSOLIDATED BALANCE SHEETS(unaudited) June 30, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 1,640,864 $ 5,405,233 Accounts receivable, net 6,640,483 6,026,545 Inventories, net 9,679,229 9,634,005 Unbilled revenue 126,738 398,898 Prepaid and other current assets 949,256 680,565 Total current assets 19,036,570 22,145,246 Long-term assets: Property, plant and equipment, net 1,820,059 1,738,036 Right-of-use assets - operating leases 1,728,780 1,730,358 Right-of-use assets - finance leases 933,671 452,390 Intangible assets, net 2,330,959 2,513,189 Goodwill 2,346,566 2,346,566 Other assets 155,232 166,474 TOTAL ASSETS $ 28,351,837 $ 31,092,259 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Related party notes, current portion $ - $ 1,548,872 Accounts payable 4,946,218 4,142,678 Accrued expenses 2,976,211 2,890,886 Deferred revenue, current portion 4,420,644 6,701,131 Operating lease obligations, current portion 481,891 430,382 Finance lease obligations, current portion 173,362 85,646 Acquisition liabilities, current portion 883,541 902,552 Unfavorable contract liability, current portion 83,962 113,449 Total current liabilities 13,965,829 16,815,596 Long-term liabilities: Related party notes, net of current portion 1,067,848 - Deferred revenue, net of current portion 1,252,831 1,165,951 Operating lease obligations, net of current portion 1,295,450 1,341,789 Finance lease obligations, net of current portion 675,198 325,235 Acquisition liabilities, net of current portion 878,151 1,008,760 Unfavorable contract liability, net of current portion 275,079 309,390 Total liabilities 19,410,386 20,966,721 Commitments and contingencies Stockholders' equity: Tecogen Inc. stockholders' equity: Common stock, $0.001 par value; 100,000,000 shares authorized; 25,571,490 issued and outstanding at June 30, 2025 and 24,950,261 shares issued and outstanding at December 31, 2024 25,571 24,950 Additional paid-in capital 58,837,181 57,845,289 Accumulated deficit (49,763,921 ) (47,639,894 ) Total Tecogen Inc. stockholders' equity 9,098,831 10,230,345 Non-controlling interest (157,380 ) (104,807 ) Total stockholders' equity 8,941,451 10,125,538 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 28,351,837 $ 31,092,259 TECOGEN CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited) Three Months Ended June 30, 2025 June 30, 2024 Revenues Products $ 3,155,323 $ 119,673 Services 3,965,168 4,126,517 Energy production 174,329 481,597 Total revenues 7,294,820 4,727,787 Cost of sales Products 2,232,155 171,982 Services 2,469,737 2,191,815 Energy production 130,436 284,835 Total cost of sales 4,832,328 2,648,632 Gross profit 2,462,492 2,079,155 Operating expenses: General and administrative 3,091,175 2,897,993 Selling 514,735 405,277 Research and development 268,724 246,489 (Gain) loss on disposition of assets (280 ) 3,363 Total operating expenses 3,874,354 3,553,122 Loss from operations (1,411,862 ) (1,473,967 ) Other income (expense) Other income (expense), net (6,378 ) 18,894 Interest expense (38,153 ) (17,869 ) Unrealized loss on investment securities - (37,497 ) Total other income (expense), net (44,531 ) (36,472 ) Loss before provision for state income taxes (1,456,393 ) (1,510,439 ) Provision for state income taxes 16,762 37 Consolidated net loss (1,473,155 ) (1,510,476 ) (Income) loss attributable to the non-controlling interest 9,050 (28,320 ) Loss attributable to Tecogen Inc. $ (1,464,105 ) $ (1,538,796 ) Net loss per share - basic $ (0.06 ) $ (0.06 ) Weighted average shares outstanding - basic 25,250,217 24,850,261 Net loss per share - diluted $ (0.06 ) $ (0.06 ) Weighted average shares outstanding - diluted 25,250,127 24,850,261 Three Months Ended June 30, 2025 June 30, 2024 Non-GAAP financial disclosure (1) Net loss attributable to Tecogen Inc. $ (1,464,105 ) $ (1,538,796 ) Interest expense, net 38,153 17,869 Income taxes 16,762 37 Depreciation & amortization, net 205,686 141,361 EBITDA (1,203,504 ) (1,379,529 ) Stock based compensation 42,606 45,463 Unrealized loss on investment securities - 37,497 Adjusted EBITDA $ (1,160,898 ) $ (1,296,569 ) (1) Non-GAAP Financial Measures In addition to reporting net income, a U.S. generally accepted accounting principle ("GAAP") measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. TECOGEN CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited) Six Months Ended June 30, 2025 June 30, 2024 Revenues Products $ 5,689,132 $ 1,611,071 Services 8,210,190 8,140,827 Energy production 673,268 1,161,985 Total revenues 14,572,590 10,913,883 Cost of sales Products 3,719,905 1,221,525 Services 4,728,635 4,284,072 Energy production 440,518 753,475 Total cost of sales 8,889,058 6,259,072 Gross profit 5,683,532 4,654,811 Operating expenses: General and administrative 6,019,310 5,746,559 Selling 1,109,216 934,946 Research and development 561,392 501,185 Gain on sale of assets (280 ) (4,028 ) Total operating expenses 7,689,638 7,178,662 Loss from operations (2,006,106 ) (2,523,851 ) Other income (expense) Other income (expense), net (20,623 ) 3,147 Interest expense (70,479 ) (36,539 ) Unrealized loss on investment securities (18,749 ) (18,749 ) Total other income (expense), net (109,851 ) (52,141 ) Loss before provision for state income taxes (2,115,957 ) (2,575,992 ) Provision for state income taxes 17,687 22,100 Consolidated net loss (2,133,644 ) (2,598,092 ) (Income) loss attributable to non-controlling interest 9,617 (45,671 ) Net loss attributable to Tecogen Inc. $ (2,124,027 ) $ (2,643,763 ) Net loss per share - basic $ (0.08 ) $ (0.11 ) Weighted average shares outstanding - basic 25,103,388 24,850,261 Net loss per share - diluted $ (0.08 ) $ (0.11 ) Weighted average shares outstanding - diluted 25,103,388 24,850,261 Six Months Ended June 30, 2025 June 30, 2024 Non-GAAP financial disclosure (1) Net loss attributable to Tecogen Inc. $ (2,124,027 ) $ (2,643,763 ) Interest expense, net 70,479 36,539 Income taxes 17,687 22,100 Depreciation & amortization, net 391,381 281,498 EBITDA (1,644,480 ) (2,303,626 ) Stock based compensation 83,439 89,998 Unrealized loss on marketable securities 18,749 18,749 Adjusted EBITDA $ (1,542,292 ) $ (2,194,879 ) (1) Non-GAAP Financial Measures In addition to reporting net income, a U.S. generally accepted accounting principle ("GAAP") measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. TECOGEN CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited) Six Months Ended June 30, 2025 June 30, 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Consolidated net loss $ (2,133,644 ) $ (2,598,092 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 391,381 281,498 Provision for (recovery of) credit losses (75,000 ) 19,063 Stock-based compensation 83,439 89,998 Unrealized loss on investment securities 18,749 18,749 Gain on disposition of assets (280 ) (4,028 ) Non-cash interest expense 33,538 12,800 Changes in operating assets and liabilities (Increase) decrease in: Accounts receivable (538,938 ) 1,398,193 Inventory (45,224 ) 439,926 Unbilled revenue 272,160 - Prepaid assets and other current assets (268,691 ) (125,784 ) Other assets 186,766 576,926 Increase (decrease) in: Accounts payable 803,540 (108,646 ) Accrued expenses and other current liabilities 85,325 39,838 Deferred revenue (2,193,607 ) 806,266 Other liabilities (395,134 ) (756,410 ) Net cash provided by (used in) operating activities (3,775,620 ) 90,297 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (277,989 ) (556,636 ) Proceeds from disposition of assets 280 36,213 Distributions to non-controlling interest (42,956 ) (48,654 ) Net cash used in investing activities (320,665 ) (569,077 ) CASH FLOWS FROM FINANCING ACTIVITIES: Finance lease principal payments (63,010 ) (30,577 ) Proceeds from exercise of stock options 394,926 - Net cash provided (used in) by financing activities 331,916 (30,577 ) Net increase (decrease) in cash and cash equivalents (3,764,369 ) (509,357 ) Cash and cash equivalents, beginning of the period 5,405,233 1,351,270 Cash and cash equivalents, end of the period $ 1,640,864 $ 841,913 Supplemental disclosure of cash flow information: Cash paid for interest $ 36,526 $ 22,909 Cash paid for taxes $ 17,687 $ 22,100 Non-cash investing activities Right-of-use assets acquired under operating leases $ 193,480 $ 1,547,800 Right-of-use assets acquired under finance leases $ 557,893 $ 27,282 Aegis Contract and Related Asset Acquisition: Contingent consideration $ - $ 272,901 Non-cash financing activities Related party note conversion to common stock $ 514,148 $ - SOURCE: Tecogen, Inc. 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- Business Wire
Invitation Homes Announces Pricing of $600 Million of 4.950% Senior Notes due 2033
DALLAS--(BUSINESS WIRE)--Invitation Homes Inc. (NYSE: INVH) ('Invitation Homes,' the 'Company,' or 'our') announced today that its operating partnership, Invitation Homes Operating Partnership LP (the 'Operating Partnership'), has priced a public offering of $600 million aggregate principal amount of 4.950% Senior Notes due 2033 (the 'Notes'). The Notes were priced at 99.477% of the principal amount and will mature on January 15, 2033. The offering is expected to close on August 15, 2025, subject to the satisfaction of customary closing conditions. The Notes will be fully and unconditionally guaranteed, jointly and severally, by the Company, Invitation Homes OP GP LLC, and IH Merger Sub, LLC. The Operating Partnership intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of a portion of the Operating Partnership's outstanding indebtedness under its revolving credit facility. BofA Securities, BMO Capital Markets, J.P. Morgan, Capital One Securities, Deutsche Bank Securities, M&T Securities, Mizuho, Morgan Stanley, PNC Capital Markets LLC, RBC Capital Markets and Wells Fargo Securities are acting as the joint book-running managers of the offering. KeyBanc Capital Markets, Regions Securities LLC, US Bancorp, BNP PARIBAS, BNY Capital Markets, Goldman Sachs & Co. LLC, Huntington Capital Markets, Truist Securities, Citigroup, R. Seelaus & Co., LLC, and Scotiabank are acting as the co-managers of the offering. The offering is being made pursuant to an effective shelf registration statement filed by the Company, the Operating Partnership, Invitation Homes OP GP LLC, and IH Merger Sub, LLC with the Securities and Exchange Commission (the 'SEC'). A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. When available, a copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from: BofA Securities, Inc., toll-free: 1-800-294-1322; BMO Capital Markets Corp., toll-free: 1-800-200-0266; and J.P. Morgan Securities LLC, toll-free: 212-834-4533; or by visiting the EDGAR database on the SEC's website at This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Invitation Homes Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing and management company, meeting changing lifestyle demands by providing access to high-quality homes with valued features such as close proximity to jobs and access to good schools. Our purpose, Unlock the power of home™, reflects our commitment to providing living solutions and Genuine CARE™ to the growing share of people who count on the flexibility and savings of leasing a home. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which include, but are not limited to, statements related to the Company's expectations regarding the performance of the Company's business, its financial results, its liquidity and capital resources and the use of the net proceeds from the offering, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as 'outlook,' 'guidance,' 'believes,' 'expects,' 'potential,' 'continues,' 'may,' 'will,' 'should,' 'could,' 'seeks,' 'projects,' 'predicts,' 'intends,' 'plans,' 'estimates,' 'anticipates' or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties that may impact our financial condition, results of operations, cash flows, business, associates, and residents, including, among others, risks inherent to the single-family rental industry and the Company's business model, macroeconomic factors beyond the Company's control, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners' association fees and insurance costs, poor resident selection and defaults and non-renewals by the Company's residents, the Company's dependence on third parties for key services, risks related to the evaluation of properties, performance of the Company's information technology systems, development and use of artificial intelligence, risks related to the Company's indebtedness, risks related to the potential negative impact of fluctuating global and United States economic conditions (including inflation), uncertainty in financial markets (including as a result of events affecting financial institutions), geopolitical tensions, natural disasters, climate change, and public health crises. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, but are not limited to, those described under Part I. Item 1A. 'Risk Factors' of the Company's Annual Report on Form 10-K for the year ended December 31, 2024 (the 'Annual Report'), as such factors may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC's website at These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release, in the Annual Report, and in the Company's other periodic filings. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except to the extent otherwise required by law.
