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Actuant Reaffirms FY19 Outlook, Guides Q3 EPS Above View - Quick Facts

While reporting financial results for the second quarter on Thursday, Actuant Corp. (ATU) reaffirmed its outlook for the full year 2019 and provided guidance for the third quarter of 2019.

For fiscal 2019, the company reaffirmed its guidance for adjusted earnings in a range of $1.09 to $1.20 per share on projected sales between $1.15 billion and $1.19 billion, with annual core sales growth between 3 and 5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.16 per share on sales of $1.19 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter of fiscal 2019, the company now projects adjusted earnings in the range of $0.40 to $0.45 per share on projected quarterly sales between $295 million and $305 million. The Street is looking for earnings of $0.37 per share on sales of $318.58 million for the quarter.

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