SunTrust Downgrades Actuant (ATU) to Neutral
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Actuant to Announce Second Quarter Results March 16, 2016; Provides Additional Updates
March 7, 2016 4:30 PM ESTMILWAUKEE--(BUSINESS WIRE)-- Actuant Corporation (NYSE: ATU) will conduct and webcast its quarterly earnings conference call for the fiscal 2016 second quarter on Wednesday, March 16, 2016 beginning at 10:00 a.m. CT.
The Company will record a net impairment charge of approximately $170 million ($2.86 per diluted share) in its second quarter financial results due to further weakening of near-term capital spending in the global oil & gas market, as well as ongoing weakness in off-highway equipment markets. This non-cash charge was not included in the previously provided earnings guidance.
In addition, the Company stated that its revenue for... More
