Actuant (ATU) Tops Q1 EPS by 3c; Bumps Outlook Higher
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Actuant Reports First Quarter Results; Updates Fiscal 2017 Guidance
December 21, 2016 8:00 AM ESTMILWAUKEE--(BUSINESS WIRE)-- Actuant Corporation (NYSE: ATU) today announced results for its first quarter ended November 30, 2016.
Highlights
Consolidated sales were 13% below the comparable prior year quarter with acquisitions net of divestitures a 2% benefit and foreign currency rate changes a 1% headwind. As expected, first quarter core sales were down 14% on a year-over-year basis (total sales excluding the impact of acquisitions, divestitures and foreign currency rate changes) with difficult Energy segment comparisons the most significant factor. GAAP diluted earnings per share (EPS) were $0.08 in... More