Electrical Systems Stocks Q3 Highlights: Garrett Motion (NASDAQ:GTX)

Looking back on electrical systems stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Whirlpool and its peers.

Like many equipment and component manufacturers, electrical systems companies are buoyed by secular trends such as connectivity and industrial automation. More specific pockets of strong demand include Internet of Things (IoT) connectivity and the 5G telecom upgrade cycle, which can benefit companies whose cables and conduits fit those needs. But like the broader industrials sector, these companies are also at the whim of economic cycles. Interest rates, for example, can greatly impact projects that drive demand for these products.

The 15 electrical systems stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.3% while next quarter’s revenue guidance was 1.3% below.

Thankfully, share prices of the companies have been resilient as they are up 9% on average since the latest earnings results.

Whirlpool

Credited with introducing the first automatic washing machine, Whirlpool is a manufacturer of a variety of home appliances.

Whirlpool reported revenues of $4.03 billion, up 1% year on year. This print exceeded analysts’ expectations by 2.5%. Overall, it was a very strong quarter for the company with a beat of analysts’ EPS estimates and full-year EPS guidance exceeding analysts’ expectations.

Whirlpool achieved the highest full-year guidance raise of the whole group. Unsurprisingly, the stock is up 15.2% since reporting and currently trades at $85.02.

Best Q3: Thermon

Creating the first packaged tracing systems, Thermon is a leading provider of engineered industrial process heating solutions for process industries.

Thermon reported revenues of $131.7 million, up 14.9% year on year, outperforming analysts’ expectations by 10.3%. The business had a stunning quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Thermon delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 38.2% since reporting. It currently trades at $40.65.

Weakest Q3: Atkore

Protecting the things that power our world, Atkore designs and manufactures electrical safety products.

Atkore reported revenues of $752 million, down 4.6% year on year, exceeding analysts’ expectations by 2.5%. Still, it was a slower quarter as it posted a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 6.5% since the results and currently trades at $70.86.

Read our full analysis of Atkore’s results here.

LSI

Enhancing commercial environments, LSI provides lighting and display solutions for businesses and retailers.

LSI reported revenues of $157.2 million, up 13.9% year on year. This print beat analysts’ expectations by 5.2%. Overall, it was an exceptional quarter as it also put up a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ EBITDA estimates.

The stock is down 13.5% since reporting and currently trades at $19.89.

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

Methode Electronics

Founded in 1946, Methode Electronics is a global supplier of custom-engineered solutions for Original Equipment Manufacturers (OEMs).

Methode Electronics reported revenues of $246.9 million, down 15.6% year on year. This result surpassed analysts’ expectations by 3.9%. It was a very strong quarter as it also recorded a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

Methode Electronics had the slowest revenue growth among its peers. The stock is down 13.2% since reporting and currently trades at $7.55.

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

What Happened?

Shares of data center products and services company Vertiv jumped 3.5% in the afternoon session after the company introduced new configurations of its modular power and liquid cooling system to support the growing demands of artificial intelligence (AI) and high-performance computing. 

This positive development was bolstered when RBC raised its price target on the stock to $200 from $196, while keeping an Outperform rating. Vertiv's new prefabricated system targets the high-density computing environments needed for AI deployments. The product launch aligned with the company's recent report that highlighted AI-driven trends shaping the next generation of data centers. The intense investment in AI created a significant need for the kind of critical digital infrastructure Vertiv provides, leading to strong demand for its power and cooling technology.

After the initial pop the shares cooled down to $175.43, up 2.7% from previous close.

What Is The Market Telling Us

Vertiv’s shares are extremely volatile and have had 48 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 13 days ago when the stock gained 8.5% on the news that Barclays upgraded the stock to 'Overweight' from 'Equal-Weight' and raised its price target, citing higher earnings estimates. 

The bank increased its price target on Vertiv, a provider of data center power and cooling solutions, to $200 from $181. Barclays noted that its earnings per share estimates for 2026 and 2027 were significantly above the consensus on Wall Street. The firm also suggested that a recent dip in the stock's price had created an attractive buying opportunity. The positive view was shared by other analysts, with both Goldman Sachs and Citi also having increased their price targets. Adding to the bullish sentiment was the growing expectation that Vertiv could be added to the S&P 500 index in the first quarter of 2026.

Vertiv is flat since the beginning of the year, and at $175.43 per share, it is trading 12% below its 52-week high of $199.27 from October 2025. Investors who bought $1,000 worth of Vertiv’s shares 5 years ago would now be looking at an investment worth $8,992.

As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the electrical systems industry, including GE Vernova and its peers.

Like many equipment and component manufacturers, electrical systems companies are buoyed by secular trends such as connectivity and industrial automation. More specific pockets of strong demand include Internet of Things (IoT) connectivity and the 5G telecom upgrade cycle, which can benefit companies whose cables and conduits fit those needs. But like the broader industrials sector, these companies are also at the whim of economic cycles. Interest rates, for example, can greatly impact projects that drive demand for these products.

The 15 electrical systems stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.3% while next quarter’s revenue guidance was 1.2% below.

Thankfully, share prices of the companies have been resilient as they are up 7.3% on average since the latest earnings results.

GE Vernova

Born from the energy business of industrial giant General Electric in a 2023 spin-off, GE Vernova designs, manufactures, and services power generation equipment and grid technologies to help customers build more reliable and sustainable electric systems.

GE Vernova reported revenues of $9.97 billion, up 11.8% year on year. This print exceeded analysts’ expectations by 8.9%. Overall, it was a strong quarter for the company with a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ revenue estimates.

GE Vernova delivered the weakest full-year guidance update of the whole group. Interestingly, the stock is up 9.1% since reporting and currently trades at $644.11.

Best Q3: Thermon

Creating the first packaged tracing systems, Thermon is a leading provider of engineered industrial process heating solutions for process industries.

Thermon reported revenues of $131.7 million, up 14.9% year on year, outperforming analysts’ expectations by 10.3%. The business had a stunning quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Thermon scored the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 37.9% since reporting. It currently trades at $40.56.

Weakest Q3: Atkore

Protecting the things that power our world, Atkore designs and manufactures electrical safety products.

Atkore reported revenues of $752 million, down 4.6% year on year, exceeding analysts’ expectations by 2.5%. Still, it was a slower quarter as it posted a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 4.7% since the results and currently trades at $69.66.

Read our full analysis of Atkore’s results here.

Kimball Electronics

Founded in 1961, Kimball Electronics (NYSE:KE) is a global contract manufacturer specializing in electronics and manufacturing solutions for automotive, medical, and industrial markets.

Kimball Electronics reported revenues of $365.6 million, down 2.3% year on year. This result beat analysts’ expectations by 8%. Overall, it was an exceptional quarter as it also recorded a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The stock is flat since reporting and currently trades at $30.61.

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

Verra Mobility

Aiming to wrap technology and data around a historically manual and paper-based industry, Verra Mobility (NYSE:VRRM) is a leading provider of smart mobility technology to address tolls and violations, title and registration services, as well as safety and traffic enforcement.

Verra Mobility reported revenues of $261.9 million, up 16.1% year on year. This number surpassed analysts’ expectations by 9.8%. It was an exceptional quarter as it also put up a solid beat of analysts’ revenue estimates and full-year revenue guidance exceeding analysts’ expectations.

The stock is down 4.1% since reporting and currently trades at $22.87.

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

Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Atkore and its peers.

Like many equipment and component manufacturers, electrical systems companies are buoyed by secular trends such as connectivity and industrial automation. More specific pockets of strong demand include Internet of Things (IoT) connectivity and the 5G telecom upgrade cycle, which can benefit companies whose cables and conduits fit those needs. But like the broader industrials sector, these companies are also at the whim of economic cycles. Interest rates, for example, can greatly impact projects that drive demand for these products.

The 15 electrical systems stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.3% while next quarter’s revenue guidance was 1.2% below.

In light of this news, share prices of the companies have held steady as they are up 4% on average since the latest earnings results.

Weakest Q3: Atkore

Protecting the things that power our world, Atkore designs and manufactures electrical safety products.

Atkore reported revenues of $752 million, down 4.6% year on year. This print exceeded analysts’ expectations by 2.5%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ adjusted operating income estimates.

“Atkore achieved Net Sales of $2.9 billion in fiscal 2025 and grew organic volume for the third consecutive year,” said Bill Waltz, Atkore President and Chief Executive Officer.

Interestingly, the stock is up 1.3% since reporting and currently trades at $67.41.

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

Best Q3: Thermon

Creating the first packaged tracing systems, Thermon is a leading provider of engineered industrial process heating solutions for process industries.

Thermon reported revenues of $131.7 million, up 14.9% year on year, outperforming analysts’ expectations by 10.3%. The business had a stunning quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Thermon pulled off the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 34.4% since reporting. It currently trades at $39.53.

Hubbell

A respected player in the electrical segment, Hubbell manufactures electronic products for the construction, industrial, utility, and telecommunications markets.

Hubbell reported revenues of $1.50 billion, up 4.1% year on year, falling short of analysts’ expectations by 1.6%. It was a slower quarter as it posted a miss of analysts’ revenue estimates and a miss of analysts’ organic revenue estimates.

Hubbell delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 8.4% since the results and currently trades at $470.54.

Read our full analysis of Hubbell’s results here.

Sanmina

Founded in 1980, Sanmina is an electronics manufacturing services company offering end-to-end solutions for various industries.

Sanmina reported revenues of $2.10 billion, up 3.9% year on year. This number surpassed analysts’ expectations by 2.2%. It was an exceptional quarter as it also put up EPS guidance for next quarter exceeding analysts’ expectations and revenue guidance for next quarter exceeding analysts’ expectations.

The stock is up 9.3% since reporting and currently trades at $153.46.

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

Methode Electronics

Founded in 1946, Methode Electronics is a global supplier of custom-engineered solutions for Original Equipment Manufacturers (OEMs).

Methode Electronics reported revenues of $246.9 million, down 15.6% year on year. This print topped analysts’ expectations by 3.9%. Overall, it was a very strong quarter as it also logged a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

Methode Electronics had the slowest revenue growth among its peers. The stock is down 19.6% since reporting and currently trades at $6.99.

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

What Happened?

Shares of data center products and services company Vertiv jumped 8.5% in the morning session after Barclays upgraded the stock to 'Overweight' from 'Equal-Weight' and raised its price target, citing higher earnings estimates. 

The bank increased its price target on Vertiv, a provider of data center power and cooling solutions, to $200 from $181. Barclays noted that its earnings per share estimates for 2026 and 2027 were significantly above the consensus on Wall Street. The firm also suggested that a recent dip in the stock's price had created an attractive buying opportunity. The positive view was shared by other analysts, with both Goldman Sachs and Citi also having increased their price targets. 

Adding to the bullish sentiment was the growing expectation that Vertiv could be added to the S&P 500 index in the first quarter of 2026.

What Is The Market Telling Us

Vertiv’s shares are extremely volatile and have had 48 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 21 days ago when the stock dropped 7.7% as investors rotated out of AI-linked high-flyers following underwhelming earnings updates from Oracle and Broadcom as the core thesis shifted from "growth at any cost" to "prove the returns."

Oracle triggered the alarm by missing revenue estimates while simultaneously hiking capital expenditures by $15 billion. This reignited fears that AI infrastructure spending is outpacing actual monetization. Broadcom compounded the anxiety; despite beating earnings, its stock fell as CFO Kirsten Spears cautioned that gross margins may come under pressure as product mix shifts further toward system-level AI sales. 

This sparked a macro rotation away from AI infrastructure and power plays. High-valuation names like AMD, Vertiv, and Bloom Energy fell as markets looked to sectors that can benefit from the recent Fed rate cut and a resilient economy.

Vertiv is up 47.7% since the beginning of the year, but at $174.77 per share, it is still trading 12.3% below its 52-week high of $199.27 from October 2025. Investors who bought $1,000 worth of Vertiv’s shares 5 years ago would now be looking at an investment worth $9,432.