This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Actuant Management Discusses Q3 2012 Results - Earnings Call Transcript

Before we start, let me offer the following cautionary note. During this call, we will be making forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Investors are cautioned that forward-looking statements are inherently uncertain and that there are a number of factors that could cause actual results to differ materially from these statements. These factors are outlined in our SEC filings.

Consistent with prior quarters, we will utilize the one question and one follow-up rule in order to keep today's call to an hour. Thank you in advance for following this practice.

And with that, I'll turn the call over to Bob.

Robert C. Arzbaecher

Thank you, Karen, and thanks for joining us on today's call. We're very pleased with our third quarter results, which came in pretty much in line with expectations. Given the macro headlines, volatility in some of our end markets and FX headwinds, the third quarter was a great example of the performance consistency you get with a diverse portfolio like Actuant. We called for moderated growth rates, up against the third -- a strong third quarter comparison of last year, and that's precisely what happened. On the top line, we saw robust growth from the Energy segment, up 23% for the quarter. Industrial and Electrical also delivered solid core, with Mastervolt now in the calculation and contributing nicely.

Engineered Solutions, as expected, was down due to European truck and auto. EPS was at the high end of guidance, driven by margin expansion, even with the FX headwind. Finally, our free cash flow was outstanding. We completed the acquisition of Turotest for the quarter, a nice tuck-in for Maxima platform and an important addition as we try to grow Actuant in Brazil.

And finally, we completed a number of capital structure actions during the quarter to take advantage of historically low interest rates and putting Actuant in great shape to fund both organic and acquisition growth for the foreseeable future.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs