Actuant Corporation (NYSE: ATU) has posted the mixed result in the fourth quarter of FY 17. For the year, the company has reported that its loss narrowed to $66.2 million, earnings per share is of $1.11 and revenue was reported at $1.1 billion.
Actuant Corporation has reported the adjusted earnings per share of 19 cents in the fourth quarter of FY 17, missing the analysts’ estimates for the adjusted earnings per share of 21 cents according to Zacks Investment Research. The company had reported the adjusted revenue growth of $275.7 million in the fourth quarter of FY 17, beating the analysts’ estimates for revenue of $265.7 million. The consolidated sales and core sales were flat compared to the prior year quarter as foreign currency rate changes increased sales 1% and net acquisition & divestitures were a 1% headwind. The strong core sales growth in both the Industrial and Engineered Solutions segments was offset by difficult market conditions in the Energy segment.
For FY 18, Actuant Corporation expects sales in the range of $1.100 – 1.130 billion and a core sale is expected to increase of flat to 2%. In the first half of the year, ATU expects to see continued difficult comparisons in the energy maintenance market offset by solid growth levels across much of the remainder of the served end markets. However, the company expects these circumstances to reverse in the back half of the fiscal year, with more difficult comparisons in Industrial and Engineered Solutions, and stabilization within Energy. In addition, the company in FY 18 expects the adjusted earnings per share (excluding restructuring and divestiture charges) to be in the range of $1.05-1.15. The full year free cash flow is expected to be in the range of $85-95 million.
For the first quarter of FY 18, Actuant Corporation expects sales to be in the range of $260-270 million on a flat to 2% core sales decline, and earnings per share are expected to be in the range of $0.14-0.19 (excluding restructuring and divestiture charges). The first quarter of FY18 is expected to contain the most difficult energy maintenance comparable to the year.
Actuant Corporation stock lost over 3.2% on September 27th, 2017 (as of 10:29AM EDT; Ssource: Google Finance).