Actuant reports first quarter loss

Associated Press

Dec. 21, 2018

MENOMONEE FALLS  Actuant Corp. (ATU) on Thursday reported a fiscal first-quarter loss of $17.5 million, after reporting a profit in the same period a year earlier.

The Menomonee Falls-based company said it had a loss of 29 cents per share. Earnings, adjusted for asset impairment costs and pretax expenses, came to 27 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The industrial products company posted revenue of $292.5 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $299 million.

For the current quarter ending in March, Actuant expects its per-share earnings to range from 15 cents to 20 cents.

The company said it expects revenue in the range of $268 million to $278 million for the fiscal second quarter.