As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the industrial & environmental services industry, including Driven Brands (NASDAQ: DRVN) and its peers.

Growing regulatory pressure on environmental compliance and increasing corporate ESG commitments should buoy the sector for years to come. On the other hand, environmental regulations continue to evolve, and this may require costly upgrades, volatility in commodity waste and recycling markets, and labor shortages in industrial services. As for digitization, a theme that is impacting nearly every industry, the increasing use of data, analytics, and automation will give rise to improved efficiency of operations. Conversely, though, the benefits of digitization also come with challenges of integrating new technologies into legacy systems.

The 8 industrial & environmental services stocks we track reported a mixed Q3. As a group, revenues along with next quarter’s revenue guidance were in line with analysts’ consensus estimates.

While some industrial & environmental services stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.2% since the latest earnings results.

Driven Brands (NASDAQ: DRVN)

With approximately 5,000 locations across 49 U.S. states and 13 other countries, Driven Brands (NASDAQ: DRVN) operates a network of automotive service centers offering maintenance, car washes, paint, collision repair, and glass services across North America.

Driven Brands reported revenues of $484.3 million, down 3.6% year on year. This print fell short of analysts’ expectations by 9.9%, but it was still a satisfactory quarter for the company with a beat of analysts’ EPS estimates but a significant miss of analysts’ revenue estimates.

“Driven Brands delivered another strong quarter, highlighted by continued growth in our Take 5 business,” said Danny Rivera, President and CEO.

Driven Brands achieved the highest full-year guidance raise but had the weakest performance against analyst estimates of the whole group. Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 3.6% since reporting and currently trades at $10.85.

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

Best Q3: Tetra Tech (NASDAQ: TTEK)

With a 50-year legacy of "Leading with Science" and operations on all seven continents, Tetra Tech (NASDAQ: TTEK) provides high-end consulting and engineering services focused on water management, environmental solutions, and sustainable infrastructure for government and commercial clients worldwide.

Tetra Tech reported revenues of $1.04 billion, down 13.4% year on year, outperforming analysts’ expectations by 6.4%. The business had a strong quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

Tetra Tech scored the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 3.6% since reporting. It currently trades at $35.77.

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

Vestis (NYSE: VSTS)

Operating a network of more than 350 facilities with 3,300 delivery routes serving customers weekly, Vestis (NYSE: VSTS) provides uniform rentals, workplace supplies, and facility services to over 300,000 business locations across the United States and Canada.

Vestis reported revenues of $663.4 million, down 3.2% year on year, in line with analysts’ expectations. It was a softer quarter as it posted EPS in line with analysts’ estimates and revenue in line with analysts’ estimates.

Interestingly, the stock is up 7.5% since the results and currently trades at $7.87.

Read our full analysis of Vestis’s results here.

Cintas (NASDAQ: CTAS)

Starting as a family business collecting and cleaning shop rags in Cincinnati, Cintas (NASDAQ: CTAS) provides corporate identity uniforms, facility services, and safety products to over one million businesses across North America.

Cintas reported revenues of $2.8 billion, up 9.3% year on year. This print surpassed analysts’ expectations by 1.4%. Overall, it was a satisfactory quarter as it also produced a narrow beat of analysts’ revenue estimates.

The stock is up 7.1% since reporting and currently trades at $200.75.

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

Pitney Bowes (NYSE: PBI)

With a century-long history dating back to 1920 and processing over 15 billion pieces of mail annually, Pitney Bowes (NYSE: PBI) provides shipping, mailing technology, logistics, and financial services to businesses of all sizes.

Pitney Bowes reported revenues of $477.6 million, down 7.5% year on year. This result missed analysts’ expectations by 1.2%. In spite of that, it was a strong quarter as it produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.

The stock is up 4.8% since reporting and currently trades at $10.74.

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

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