Actuant Narrows FY18 Adj. Earnings Outlook, Lifts Sales Forecast - Quick Facts

(RTTNews) - While reporting its third-quarter financial results today, Actuant Corp. (ATU) raised its forecast for full-year 2018 sales and narrowed its adjusted earnings per share outlook range.

For the fourth quarter, Actuant forecasts sales in a range of $290 million to $300 million, reflecting normal seasonal moderation from the third quarter. The company projects adjusted earnings per share for the quarter in a range of $0.32 to $0.37.

The outlook includes core sales growth of about 3 percent to 5 percent, and a mid-single digit effective income tax rate.

On average, analysts polled by Thomson Reuters expect the company to earn $0.34 per share for the quarter on revenues of $282.08 million. Analysts' estimates typically exclude special items.

For fiscal 2018, Actuant now forecasts adjusted earnings of $1.03 to $1.08 per share and sales in a range of $1.17 billion to $1.18 billion. Earlier, the company forecast adjusted earnings of $1.00 to $1.10 per share and revenues of $1.14 billion to $1.16 billion for the year.

The Street expects the company to earn $1.02 per share for the year on revenues of $1.15 billion.