$ATU (Actuant Corporation)

$ATU {{ '2016-09-28T12:53:49+0000' | timeago}} • Announcement

Industrial products company $ATU reported a decline in 4Q16 earnings due to lower sales, unfavorable foreign currency exchange rate changes and loss on Sanlo product line. Net income slid to $17.4MM or $0.29 per share from $22.08MM or $0.37 per share last year. Net sales fell to $275.77MM from $300.38MM. Adjusted EPS was $0.30 for 4Q16.

$ATU {{ '2017-09-28T19:01:42+0000' | timeago}} • Webcast

During 4Q17, $ATU signed an agreement to divest its Viking business for $12MM in order to reshape its Energy segment portfolio. This will also limit the company's exposure to upstream oil and gas exploration.  The net cash outflow from the transaction is expected to be approx $25MM in 2018.

$ATU {{ '2017-09-28T18:51:41+0000' | timeago}} • Webcast

$ATU's Engineered Solutions segment posted 20% growth in its 4Q17 sales, while operating profit increased by over 400BP. This increase was mainly due to improvement in sales coverage, customer support and manufacturing performance. In addition, the Chinese heavy-duty truck production remained strong and Europe maintained solid build levels.

$ATU {{ '2017-09-27T13:12:49+0000' | timeago}} • Announcement

During 4Q17, $ATU's Industrial segment sales rose 7% to $100MM. Sales of Energy segment fell 25% YoY to $69MM. Engineered Solutions segment sales were $107MM, up 18% from prior year.

$ATU {{ '2017-09-27T13:08:47+0000' | timeago}} • Announcement

For FY18, $ATU expects its sales to be in the range of $1.10-1.13Bil, representing a core sales increase of flat-2%. Adjusted EPS is expected to be in the range of $1.05-1.15. Free cash flow for FY18 is expected to be about $85-95MM.

$ATU {{ '2017-09-27T13:03:34+0000' | timeago}} • Announcement

$ATU reported net loss of $98.8MM or $1.65 per share during 4Q17, compared to earnings of $17.4MM or $1.65 per share during 4Q16. Results were impacted with restructuring charges of $1.3MM, $108.9MM in impairment and divestiture charges related to the pending sale of the Viking SeaTech business. Net sales remained flat at $276MM.

$ATU {{ '2017-09-14T21:01:27+0000' | timeago}} • Announcement

$ATU said its President and CEO Randal Baker will take charge of the Energy and Industrial segments, on an interim basis, as part of consolidation of the leadership. In conjunction with the initiative, Stephen Rennie will leave the organization. Actuant expects to record severance and other termination charges in the financial results of 1Q18.

$BMI {{ '2017-09-08T13:29:36+0000' | timeago}} • Announcement

$BMI has appointed Kenneth Bockhorst to the newly created position of SVP and COO. He was EVP of the Energy segment of $ATU and will assume his new role on or before Nov 1, 2017. Bockhorst brings more than 20 years of experience in global operations management to Badger Meter.

$ATU {{ '2017-09-08T13:10:27+0000' | timeago}} • Announcement

$ATU has promoted André Williams, currently VP Human Resources, Industrial and Engineered Solutions segments, and will take on the additional responsibilities of EVP HR,  presently held by Eugene Skogg, who is leaving the organization. Kenneth Bockhorst, EVP of Energy division is also leaving the firm.

$ATU {{ '2017-08-17T13:25:18+0000' | timeago}} • Announcement

$ATU agreed to sell its Viking SeaTech business to Acteon Group. $ATU expects to record after-tax charges of $110-125MM, including cash charge of about $28MM from unwinding certain rental fleet operating leases, including those from mid-2014 sale and leaseback transaction. These charges will be incurred during 4Q17 and early in FY18, upon closing.

$ATU {{ '2017-08-17T13:22:54+0000' | timeago}} • Announcement

$ATU agreed to sell its Viking SeaTech business to Acteon Group, a global subsea services business, for about $12MM. $ATU agreed to buy Mirage, a provider of industrial and energy maintenance tools, from Acteon for about $16MM, plus potential future performance based consideration. The two transactions will close simultaneously.

$ATU {{ '2017-07-14T21:19:08+0000' | timeago}} • Announcement

$ATU has approved a cash dividend on its common stock. The Board declared an annual dividend of $0.04 per common share payable on October 16, 2017 to shareholders of record on September 29, 2017.

$ATU {{ '2017-06-21T15:44:19+0000' | timeago}} • Webcast

Regarding capital deployment in the near term, $ATU stated that its top priority is to have its focus on strategic acquisitions. Additionally, the company will be looking at share buybacks and would deploy capital to improve businesses.

$ATU {{ '2017-06-21T15:39:25+0000' | timeago}} • Webcast

$ATU said that in the Industrial segment, it believes its growth of 5-7% will continue into 4Q17. In the Engineered Solutions business, the company is continuing to see good growth in order demand and expects a 10-12% increase in growth. However in Energy segment, $ATU is expecting to see 21-23% reduction in demand, down from the original guidance.

$ATU {{ '2017-06-21T15:34:14+0000' | timeago}} • Webcast

$ATU generated $30MM in free cash flow in 3Q17 on strong working capital management and used the cash to reduce debt. Additionally, the corresponding net-debt-to-EBITDA ratio declined from 2.9 to 2.8. In the general industrial and on-highway market, $ATU is seeing indication of retail demand pulling through products and strong China truck market.

$ATU {{ '2017-06-21T12:40:43+0000' | timeago}} • Announcement

$ATU expects FY17 sales within the range of $1.08-1.09Bil. Adjusted EPS is anticipated to be $0.82-0.87, down from $1.10-1.20, as lower energy maintenance volumes and unfavorable segment sales mix weigh on margins. Free cash flow is projected to be in the $65-70MM range, down from the previous range of $85-95MM.

$ATU {{ '2017-06-21T12:37:42+0000' | timeago}} • Announcement

In 3Q17, $ATU's Industrial segment sales grew 5% to $101MM, and Engineered Solutions segment sales increased 3% to $111MM. However, this was offset by an 18% decline in Energy segment sales to $83MM.

$ATU {{ '2017-06-21T12:33:48+0000' | timeago}} • Announcement

Diversified industrial company $ATU posted slightly higher net earnings in 3Q17, despite a 3% dip in YoY sales to $295.4MM. Net earnings edged up to $22.5MM, or $0.37 per share, from $21.1MM, or $0.36 per share a year ago. Adjusted for special items, EPS was $0.32 during this period.

$ATU {{ '2017-03-22T16:42:57+0000' | timeago}} • Webcast

$ATU's Industrials margins remained flat YoY in 2Q17, mainly due to strong heavy lifting and concrete tensioning product sales and new investments in growth. In Engineered Solutions, the company saw its first YoY core sales growth in nine quarters.

$ATU {{ '2017-03-22T12:35:13+0000' | timeago}} • Announcement

$ATU maintains its FY17 sales guidance in the range of $1.07-1.12Bil. The company has narrowed its adjusted EPS guidance to $1.10-1.20, from $1.10-1.30. The company anticipates its 3Q17 sales to be about $290-300MM with adjusted EPS to be about $0.38-0.43.

$ATU {{ '2017-03-22T12:32:40+0000' | timeago}} • Announcement

During 2Q17, $ATU's Industrial segment sales rose 13% to $92MM. Sales of Energy segment fell 15% YoY to $73MM. $ATU's sales in Engineered solutions segment during the quarter fell 2% YoY to $94MM.

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