The 2020 Mid-Year Economic Update_long

Actuant Sales Down 15.4% in 3Q

Core sales down 8 percent in third quarter.

Actuant Corp. (NYSE: ATU), Milwaukee, WI, reported sales for the third quarter ended May 31 of $320.1 million, a decrease of 15.4 percent year-over-year. Core sales were down 8 percent. Profit decreased 24.9 percent to $38 million.

Third-quarter industrial segment sales were $103.5 million, down 5.7 percent from the previous year, with core sales down 6 percent. The Hayes Industries acquisition contributed 7 percent to total sales growth.

Energy segment sales decreased 20.7 percent year-over-year to $99.3 million, with core sales down 12 percent. Engineered solutions segment sales decreased 18 percent from the prior year to $117.3 million, with core sales down 4 percent.

"As anticipated, the Energy segment’s core sales turned negative due to well-publicized oil & gas headwinds," said Mark Goldstein, president and CEO. "Engineered Solution’s core sales improved sequentially as higher truck volumes more than offset the expected moderation in agriculture demand."

For the first nine months of the fiscal year, sales were $948.9 million, down 9.2 percent from the prior-year period. The company reported a loss of $2.2 million, compared to a profit of $128 million the previous year.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events


articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.