AP NEWS

Colfax: 2Q Earnings Snapshot

August 6, 2019

ANNAPOLIS JUNCTION, Md. (AP) _ Colfax Corp. (CFX) on Tuesday reported a second-quarter loss of $469.2 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Annapolis Junction, Maryland-based company said it had a loss of $3.45. Earnings, adjusted for one-time gains and costs, came to 64 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The manufacturing and engineering company posted revenue of $908.6 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.25 billion.

Colfax expects full-year earnings in the range of $2.55 to $2.65 per share.

Colfax shares have climbed 33% since the beginning of the year. The stock has declined 13% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CFX at https://www.zacks.com/ap/CFX