Actuant Corp. has strung together seven earnings surprises as both the top and bottom lines continue to improve. In addition, a recent acquisition led to a buying frenzy. Those factors have lead to nice upward estimate revisions, pushing shares to a Zacks #1 Rank (Strong Buy).
Actuant is an industrial company that operates in more than 30 countries through a variety of markets. The company offers hydraulic and electrical tools, as well as other related products and services.
I originally featured Actuant back in October and since then the company has posted yet another earnings surprise, making it seven in a row. The announcement came on December 16 and included EPS of 36 cents, nearly double the 19 cents from a year ago. Analysts were looking for 34 cents.
Revenues for the period were up 34%, to $87.4 million. If you strip out acquisitions, and other adjustments, you still have core growth of roughly 14%. Solid top and bottom line growth? Sounds good to me.
One aspect that can go toe-to-toe with EPS when it comes to quarterly reports is ATU’s outlook. In this release the CEO for Actuant raised the outlook thanks to encouraging trends and other favorable variables.