Wrapping up Q3 earnings, we look at the numbers and key takeaways for the construction and maintenance services stocks, including Orion (NYSE: ORN) and its peers.

Construction and maintenance services companies not only boast technical know-how in specialized areas but also may hold special licenses and permits. Those who work in more regulated areas can enjoy more predictable revenue streams - for example, fire escapes need to be inspected every five years. More recently, services to address energy efficiency and labor availability are also creating incremental demand. But like the broader industrials sector, construction and maintenance services companies are at the whim of economic cycles as external factors like interest rates can greatly impact the new construction that drives incremental demand for these companies’ offerings.

The 13 construction and maintenance services stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 3% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 8.4% on average since the latest earnings results.

Orion (NYSE: ORN)

Established in 1994, Orion (NYSE: ORN) provides construction services for marine infrastructure and industrial projects.

Orion reported revenues of $225.1 million, flat year on year. This print was in line with analysts’ expectations, and overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates and full-year EBITDA guidance slightly topping analysts’ expectations.

“We delivered another strong third quarter marked by top- and bottom-line results, robust cash generation, good bookings, and market-leading safety. We have also continued to advance strategic priorities, including expanding our bonding capacity by $400 million, continuing to strengthen our board with the appointment of Robert Ledford, and closing the sale of the East and West Jones property in October. With a strong balance sheet, disciplined capital deployment strategy, and focus on long-term strategic execution, our team is laying the foundation for Orion’s next phase of growth,” said Travis Boone, President and Chief Executive Officer of Orion Group Holdings.

Interestingly, the stock is up 23.1% since reporting and currently trades at $10.67.

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

Best Q3: Comfort Systems (NYSE: FIX)

Formed through the merger of 12 companies, Comfort Systems (NYSE: FIX) provides mechanical and electrical contracting services.

Comfort Systems reported revenues of $2.45 billion, up 35.2% year on year, outperforming analysts’ expectations by 13.2%. The business had an incredible quarter with a solid beat of analysts’ backlog estimates and a beat of analysts’ EPS estimates.

The market seems happy with the results as the stock is up 27.5% since reporting. It currently trades at $1,053.

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

Weakest Q3: WillScot Mobile Mini (NASDAQ: WSC)

Originally focusing on mobile offices for construction sites, WillScot (NASDAQ: WSC) provides ready-to-use temporary spaces, largely for longer-term lease.

WillScot Mobile Mini reported revenues of $566.8 million, down 5.8% year on year, falling short of analysts’ expectations by 2.3%. It was a softer quarter as it posted a miss of analysts’ Delivery and Installation revenue estimates and revenue guidance for next quarter missing analysts’ expectations significantly.

WillScot Mobile Mini delivered the slowest revenue growth in the group. Interestingly, the stock is up 12.9% since the results and currently trades at $22.07.

Read our full analysis of WillScot Mobile Mini’s results here.

Construction Partners (NASDAQ: ROAD)

Founded in 2001, Construction Partners (NASDAQ: ROAD) is a civil infrastructure company that builds and maintains roads, highways, and other infrastructure projects.

Construction Partners reported revenues of $899.8 million, up 67.2% year on year. This print was in line with analysts’ expectations. Taking a step back, it was a mixed quarter as it also recorded full-year EBITDA guidance beating analysts’ expectations but a significant miss of analysts’ organic revenue estimates.

Construction Partners scored the fastest revenue growth among its peers. The stock is up 9.1% since reporting and currently trades at $113.69.

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

Tutor Perini (NYSE: TPC)

Known for constructing the Philadelphia Eagles’ Stadium, Tutor Perini (NYSE: TPC) is a civil and building construction company offering diversified general contracting and design-build services.

Tutor Perini reported revenues of $1.42 billion, up 30.7% year on year. This number beat analysts’ expectations by 2.3%. It was a stunning quarter as it also put up a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The stock is up 7.7% since reporting and currently trades at $73.16.

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

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