Earnings Review and Free Research Report: Actuant Reported Better than Expected Revenue
Research Desk Line-up: AZZ Inc. Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 9, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Actuant Corp. (NYSE: ATU), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ATU, following the Company's disclosure of its financial results for the fourth quarter fiscal 2017 on September 27, 2017. The Wisconsin-based Diversified Industrials Company posted strong cash flow resulting for the 17th consecutive year of free cash flow conversion in excess of 100% of adjusted net earnings and also provided guidance for fiscal 2017. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Get more of our free earnings reports coverage from other constituents of the Diversified Machinery industry. Pro-TD has currently selected AZZ Inc. (NYSE: AZZ) for due-diligence and potential coverage as the Company announced on October 03, 2017, its financial results for Q2 FY18 which ended on August 31, 2017. Register for a free membership today, and be among the early birds that get access to our report on AZZ Inc. when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ATU; also brushing on AZZ. With the links below you can directly download the report of your stock of interest free of charge at:
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Earnings Reviewed
Actuant reported the fourth-quarter fiscal year 2017 revenue of $275.70 million compared to revenue of $275.77 million recorded in Q4 FY16, thereby reporting flat sales on a y-o-y basis. The Company's revenue numbers beat analysts' estimates of $266 million.
The Company's selling, administrative, and engineering expenses increased from $64.30 million in Q4 FY16 to $71.88 million in Q4 FY17. The diversified industrials Company reported an operating loss of $99.24 million in Q4 FY17 compared to an operating profit of $18.18 million in Q4 FY16. For FY17, the Company's operating loss halved from $100.22 million in 2016 to $50.23 million.
Actuant reported net loss of $98.77 million, or $1.65 per diluted share, in Q4 FY17 compared to earnings of $17.40 million, or $0.29 per diluted share, in Q4 FY16. On an adjusted basis, the Company posted earnings of $0.19 per share compared to $0.30 per share in the year-earlier same quarter. Earnings also came in below Wall Street's expectations of $0.21 per share.
Actuant's Segment Details
The Industrial segment's sales rose 6.7% from $94 million in Q4 FY16 to $100.30 million in Q4 FY17. The segment's operating profit jumped almost 15% higher from $20.8 million in Q4 FY16 to $24.1 million in Q4 FY17.
The Energy segment, on the other hand, posted a 24% decline by reporting lower sales for Q4 FY17 at $68.6 million from $91.4 million in Q4 FY16. The segment recorded operating loss of $122.6 million for the reported quarter compared to operating profit of $8.3 million for the year-ago same period.
The Engineered Solutions segment's sales stood at $106.8 million for Q4 FY17 compared to $90.3 million in Q4 FY16; reporting a 18.5% positive change. The segment posted operating profit of $6.2 million in the reported quarter versus operating loss of $5.0 million in the year-earlier same quarter.
Cash Matters
In Q4 FY17, Actuant reported a decline of 14.70% in cash from operating activities at $36.43 million compared to $42.71 million for the same quarter in FY16. The Company incurred a cash outflow of $4.95 million for Q4 FY17 compared to a cash inflow of $4.53 in Q4 FY16. The cash outflow in current fiscal year was a result of higher CapEx incurred by Actuant.
Outlook
For FY18, Actuant expects its sales to hover in the range of $1.10 billion to $1.13 billion, thereby reflecting net increase of 2% on a y-o-y basis.
The Company's adjusted EPS (excluding restructuring and divestiture charges) is expected to be in the range of $1.05 to 1.15, reflecting modestly higher sales and the benefit of the restructuring actions offset by a higher effective tax rate and higher incentive compensation. Actuant's FY18 free cash flow is expected to be in the range of $85 million to $95 million. Overall, the Company seeks to grow organically and reduce its structural costs. It also seeks to improve long-term shareholder value.
Stock Performance
At the closing bell, on Friday, October 06, 2017, Actuant's stock marginally climbed 0.77%, ending the trading session at $26.10. A total volume of 616.69 thousand shares have exchanged hands, which was higher than the 3-month average volume of 477.00 thousand shares. The Company's stock price advanced 5.67% in the last three months, 2.35% in the past six months, and 8.84% in the previous twelve months. Moreover, the stock gained 0.58% since the start of the year. The stock has a dividend yield of 0.15% and currently has a market cap of $1.56 billion.
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