Posted June 20, 2018

Actuant sales increased by 7 percent

Actuant Corporation reported third-quarter consolidated sales of $317.1 million increased 7 percent over the comparable prior year quarter.

Third quarter fiscal 2018 Industrial segment sales were $108 million, or 8 percent higher than the prior year.

Fiscal 2018 third quarter Energy segment sales were approximately level with the prior year at $84 million.

Engineered Solutions segment sales were $125 million or 12 percent above the prior year.

Net earnings of $25.0 million, or 48 cents per diluted share, compared to earnings of $22.5 million, or 37 cents, in the same period last year.

During the quarter, Actuant acquired Equalizer, a small tool product line tuck-in to expand its pipe and flange alignment capabilities. 

“We continue to see strong momentum in the industrial tools and OEM component businesses, and global Energy maintenance activity appears to have stabilized. While we continue to experience some pressures from inflation along with commercial and engineering investments to support high service levels and growth, we are realizing the incremental margin benefits of higher volumes and restructuring actions," said Randy Baker, president and CEO.