Looking back on electrical systems stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Thermon (NYSE: THR) 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 satisfactory Q4. As a group, revenues beat analysts’ consensus estimates by 2.1% while next quarter’s revenue guidance was 1.1% below.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.3% since the latest earnings results.

Thermon (NYSE: THR)

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

Thermon reported revenues of $147.3 million, up 9.6% year on year. This print exceeded analysts’ expectations by 6.5%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

Interestingly, the stock is up 12.1% since reporting and currently trades at $51.78.

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

Best Q4: LSI (NASDAQ: LYTS)

Enhancing commercial environments, LSI (NASDAQ: LYTS) provides lighting and display solutions for businesses and retailers.

LSI reported revenues of $147 million, flat year on year, outperforming analysts’ expectations by 4.9%. The business had a stunning quarter with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 8% since reporting. It currently trades at $18.76.

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

Weakest Q4: Whirlpool (NYSE: WHR)

Credited with introducing the first automatic washing machine, Whirlpool (NYSE: WHR) is a manufacturer of a variety of home appliances.

Whirlpool reported revenues of $4.10 billion, flat year on year, falling short of analysts’ expectations by 3.7%. It was a softer quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.

Whirlpool delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 32.7% since the results and currently trades at $54.40.

Read our full analysis of Whirlpool’s results here.

Atkore (NYSE: ATKR)

Protecting the things that power our world, Atkore (NYSE: ATKR) designs and manufactures electrical safety products.

Atkore reported revenues of $655.5 million, flat year on year. This result surpassed analysts’ expectations by 0.9%. Overall, it was an exceptional quarter as it also put up a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The stock is down 14% since reporting and currently trades at $60.23.

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

Kimball Electronics (NASDAQ: KE)

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

Kimball Electronics reported revenues of $341.3 million, down 4.5% year on year. This print topped analysts’ expectations by 0.6%. It was a very strong quarter as it also recorded an impressive beat of analysts’ EBITDA estimates and full-year revenue guidance beating analysts’ expectations.

Kimball Electronics had the slowest revenue growth among its peers. The stock is down 22.7% since reporting and currently trades at $23.76.

Read our full, actionable report on Kimball Electronics 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.

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