Actuant reports record quarter

Menomonee Falls-based Actuant Corp. reported record second quarter earnings per share.
The company posted quarterly net earnings of $32.2 million, or 43 cents per share, up from $7.9 million, or 11 cents per share, in the same period a year ago.
Actuant’s quarterly net sales grew to $378.0 million from $440.1 million a year earlier.
Robert Arzbaecher, chairman and chief executive officer of Actuant, said, “We are very pleased with the results for the second quarter as sales, EPS and cash flow were all above expectations. During the normally seasonally weak second quarter, broad-based strength continued across many of our served end markets, resulting in an 8 percent increase in year-over-year core sales. We achieved record second quarter EPS of $0.43 through the combination of higher sales and robust year-over-year margin improvement. Our strategic initiatives and proven business model now have delivered nine consecutive quarters of year-over-year sales, margin and EPS growth and we are on track to deliver the highest free cash flow year in Actuant’s history. I want to thank our global team for their continued solid execution.”
The company increased its full year earnings per share guidance to $1.98 to $2.08, reflecting strong second quarter results and expected continued momentum in the second half of the year.