Actuant Reports Second Quarter 2019 Results
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Actuant (ATU) Tops Q2 EPS by 1c, Revenues Miss; Offers Q3 & FY19 EPS/Revenue Guidance
March 21, 2019 8:34 AM EDTActuant (NYSE: ATU) reported Q2 EPS of $0.19, $0.01 better than the analyst estimate of $0.18. Revenue for the quarter came in at $271.9 million versus the consensus estimate of $273.83 million.
Completed sale of Precision-Hayes International business on December 31, 2018.Announced intent to divest EC&S segment on January 24, 2019.Total net sales were $272 million for the quarter. Core sales increased 7% on a year-over-year basis net of the impact of foreign currency and divestitures, each of which decreased net sales by 4%.The Industrial Tools & Services (IT&S) segment achieved second quarter revenues of $150 million and delivered a core... More