Blount International, Inc. (BLT) Posts Q2 Loss of $1.02/Share

Blount International, Inc. (NYSE: BLT) reported Q2 EPS of ($1.02), which may not compare to the analyst estimate of $0.15. Revenue for the quarter came in at $213 million versus the consensus estimate of $215.1 million.

“We continued to experience significant currency-related headwinds in the second quarter driven by the strength of the U.S. Dollar,” stated Josh Collins, Blount’s Chairman and CEO. “Our sales were impacted by the translation of non-U.S. Dollar transactions, and our sales volumes were affected by lower demand from non-U.S. customers that pay in U.S. Dollars. We are also experiencing a sharp cyclical downturn in the North American agriculture market, which has negatively impacted sales in most parts of our FRAG business. In response to the lower demand, we have reduced production rates, primarily at our Portland, Oregon forestry plant, and we are actively managing our spending and staffing while maintaining our strategic investments.”

For earnings history and earnings-related data on Blount International, Inc. (BLT) click here.

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