Actuant beats Street 1Q forecasts

Associated Press

Dec. 21, 2017

MENOMONEE FALLS Actuant Corp. on Wednesday reported fiscal first-quarter net income of $5.2 million. The Menomonee Falls-based company said it had profit of 9 cents per share. Earnings, adjusted for restructuring costs, came to 19 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share. The industrial products company posted revenue of $289 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $269.1 million. For the current quarter ending in March, Actuant expects its per-share earnings to range from 10 cents to 15 cents. The company said it expects revenue in the range of $265 million to $275 million for the fiscal second quarter.