Gardner Denver revenues fall 6 percent
Gardner Denver Holdings said its second quarter revenues of $629 million were down 6 percent compared to the prior year.
Net income in the quarter was $45 million, or 21 cents per share, compared to prior year net income of $60 million, or 29 cents per share.
Industrial segment revenues of $334 million were up 2 percent compared to the prior year.
“Our Industrials segment continues to deliver solid commercial performance with Americas and Europe generating positive FX-adjusted orders growth offset by negative performance in Asia Pacific due to the timing of a large Runtech order placed in the previous year. The segment continues to benefit from growth in niche products, such as oil-free compressors and blowers, as well as strong margin and EBITDA performance due to operational efficiency initiatives," said Vicente Reynal, chief executive officer.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
