Actuant: Fiscal 3Q Earnings Snapshot
MENOMONEE FALLS, Wis. (AP) _ Actuant Corp. (ATU) on Wednesday reported fiscal third-quarter net income of $32.4 million.
On a per-share basis, the Menomonee Falls, Wisconsin-based company said it had net income of 52 cents. Earnings, adjusted for one-time gains and costs, were 45 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The industrial products company posted revenue of $295.3 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $300.9 million.
For the current quarter ending in August, Actuant expects its per-share earnings to range from 25 cents to 31 cents.
The company said it expects revenue in the range of $265 million to $275 million for the fiscal fourth quarter.
Actuant expects full-year earnings in the range of $1.15 to $1.21 per share, with revenue ranging from $1.13 billion to $1.14 billion.
Actuant shares have risen 15% since the beginning of the year. The stock has dropped 18% in the last 12 months.