The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how gas and liquid handling stocks fared in Q1, starting with Atmus Filtration Technologies (NYSE: ATMU).

Gas and liquid handling companies possess the technical know-how and specialized equipment to handle valuable (and sometimes dangerous) substances. Lately, water conservation and carbon capture–which requires hydrogen and other gasses as well as specialized infrastructure–have been trending up, creating new demand for products such as filters, pumps, and valves. On the other hand, gas and liquid handling 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 11 gas and liquid handling stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 1.3% while next quarter’s revenue guidance was 0.8% below.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 6.1% since the latest earnings results.

Atmus Filtration Technologies (NYSE: ATMU)

Spun out of Cummins in 2023 after 65 years as part of the engine maker, Atmus Filtration Technologies (NYSE: ATMU) manufactures filters for trucks, construction equipment, and agriculture machinery to reduce emissions and protect engines.

Atmus Filtration Technologies reported revenues of $477.5 million, up 14.6% year on year. This print exceeded analysts’ expectations by 1.6%. Overall, it was a strong quarter for the company with a solid beat of analysts’ adjusted operating income and revenue estimates.

“The Atmus team delivered strong financial results while simultaneously integrating Koch Filter to unlock growth for our Industrial Solutions business segment,” said Steph Disher, Chief Executive Officer of Atmus.

The stock is down 24.3% since reporting and currently trades at $48.

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

Best Q1: Gorman-Rupp (NYSE: GRC)

Powering fluid dynamics since 1934, Gorman-Rupp (NYSE: GRC) has evolved from its Ohio origins into a global manufacturer and seller of pumps and pump systems.

Gorman-Rupp reported revenues of $176.6 million, up 7.7% year on year, outperforming analysts’ expectations by 3.5%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

The market seems happy with the results as the stock is up 9.7% since reporting. It currently trades at $72.66.

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

Weakest Q1: Graco (NYSE: GGG)

Founded in 1926, Graco (NYSE: GGG) is an industrial company specializing in the development and manufacturing of fluid-handling systems and products.

Graco reported revenues of $540.1 million, up 2.2% year on year, falling short of analysts’ expectations by 3.9%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and adjusted operating income estimates.

As expected, the stock is down 11.5% since the results and currently trades at $75.70.

Read our full analysis of Graco’s results here.

IDEX (NYSE: IEX)

Founded in 1988, IDEX (NYSE: IEX) is a global manufacturer specializing in highly engineered products such as pumps, flow meters, and fluidics systems for various industries.

IDEX reported revenues of $886.9 million, up 8.9% year on year. This result topped analysts’ expectations by 4.7%. Overall, it was a strong quarter as it also recorded an impressive beat of analysts’ EBITDA estimates.

The stock is flat since reporting and currently trades at $206.83.

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

Flowserve (NYSE: FLS)

Manufacturing the largest pump ever built for nuclear power generation, Flowserve (NYSE: FLS) manufactures and sells flow control equipment for various industries.

Flowserve reported revenues of $1.07 billion, down 6.7% year on year. This print lagged analysts' expectations by 8.8%. Taking a step back, it was a mixed quarter as it also recorded a decent beat of analysts’ EBITDA estimates but a significant miss of analysts’ revenue estimates.

Flowserve had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 17.4% since reporting and currently trades at $69.61.

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

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.