Actuant Corp (EPAC) said before open Tuesday that it earned $0.16 per share in quarter three 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $151.9 million, missing estimates by $3.2 million.
In the same quarter a year ago, the company earned $0.28 per share on revenue of $143.1 million.
The stock is down 7.33% to $18.32 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Hold on the stock prior to the report.
Trading in the five days leading up to the report earned Actuant Corp a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 55. Meanwhile, the average Wall Street analyst rated the stock a Hold.
Enerpac Tool Group, previously known as Actuant, provides high-precision tools, controlled-force products, and solutions for precise heavy lifting. The company operates through two segments: industrial tools and services and other. It categorizes its revenue into two parts: product sales and services, which include manpower services and rentals. Product sales is the largest contributor to the company's total revenue. Geographically, the company operates in the United States, Asia, Australia, Europe, Middle East, and other areas. The U.S. makes up the largest contribution to the company's total revenue.
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Actuant Corp Down 7.33% To $18.32 After Earnings Miss
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