Posted August 1, 2019

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.