As previously announced, Actuant Corporation (the “Company”) has
realigned its financial reporting segments. The change is effective
for the Company’s fourth quarter of 2018. The realignment reflects
changes in the operating structure of the Company with the
combination of the Company’s tools and services business and all
OEM-related businesses into two operating segments: Industrial
Tools & Services (“IT&S”) and Engineered Components &
Systems (“EC&S”), respectively.
The IT&S segment results from the consolidation of the
former Industrial segment, excluding the Precision-Hayes business,
with the Hydratight and Mirage businesses from the former Energy
segment. The new segment concentrates on product sales and service
as well as rental capabilities. Executive Vice President Jeff
Schmaling will lead the segment.
The EC&S segment is comprised of the former Engineered
Solutions segment and now includes the Precision-Hayes business and
the former Energy segment businesses, Cortland and Viking (which
was divested in the second quarter of Fiscal 2018). The segment is
focused on highly engineered components for transportation,
agricultural, construction and other vertical markets and will be
led by Executive Vice President, Roger Roundhouse.
In addition, the Company’s reportable product lines are being
reorganized into the following structure: IT&S product lines -
Product and Service & Rental; and EC&S product lines -
On-Highway; Agriculture, Off-Highway and Other; Rope & Cable
Solutions; Concrete Tensioning; and Off-Shore Mooring (divested in
connection with the sale of the Viking business). The product line
reporting change is also effective for the Company’s fourth quarter
of 2018.
For comparative purposes, the Company has included as an
attachment to this release certain unaudited historical financial
results for both the new and prior segment and product line
reporting. The updated segment presentation will be reflected in
the Company’s forthcoming Annual Report on Form 10-K. The segment
and product line reorganizations do not impact the Company’s
audited consolidated financial statements.
About Actuant
Corporation
Actuant Corporation is a diversified industrial company serving
customers from operations in more than 30 countries. The Actuant
businesses are leaders in a broad array of niche markets including
branded hydraulic tools and solutions; specialized products and
services for energy markets and highly engineered position and
motion control systems. The Company was founded in 1910 and is
headquartered in Menomonee Falls, Wisconsin. Actuant trades on the
NYSE under the symbol ATU. For further information on Actuant and
its businesses, visit the Company's website at www.actuant.com.
(tables follow)
ACTUANT CORPORATION SUPPLEMENTAL UNAUDITED DATA
(Dollars in thousands)
RESULTS BY REPORTING
SEGMENT NEW REPORTING STRUCTURE FORMER
REPORTING STRUCTURE FISCAL FISCAL FISCAL
FISCAL FISCAL FISCAL 2016 2017
2018 2016 2017 2018 SALES
SALES INDUSTRIAL TOOLS & SERVICES SEGMENT $ 588,207 $
552,582 $ 591,085 INDUSTRIAL SEGMENT $ 359,817 $ 379,755 $ 415,897
ENGINEERED COMPONENTS & SYSTEMS SEGMENT 561,203
543,202 591,526 ENERGY SEGMENT 392,731
309,594 303,144 TOTAL $ 1,149,410 $ 1,095,784 $
1,182,611 ENGINEERED SOLUTIONS SEGMENT 396,862
406,435 463,570 TOTAL $ 1,149,410
$ 1,095,784 $ 1,182,611
OPERATING
PROFIT (LOSS) OPERATING PROFIT (LOSS) INDUSTRIAL TOOLS
& SERVICES SEGMENT $ 123,809 $ 98,377 $ 103,718 INDUSTRIAL
SEGMENT $ 82,929 $ 86,623 $ 90,396 ENGINEERED COMPONENTS &
SYSTEMS SEGMENT 11,173 8,501 24,787 ENERGY SEGMENT 38,851 (99 )
12,340 CORPORATE / GENERAL (29,025 ) (25,123 )
(24,404 ) ENGINEERED SOLUTIONS SEGMENT 13,187 20,359 25,698
ADJUSTED OPERATING PROFIT $ 105,957 $ 81,755 $ 104,101 CORPORATE /
GENERAL (29,010 ) (25,128 ) (24,333 )
IMPAIRMENT & DIVESTITURE CHARGES (186,511 ) (116,979 ) (73,058
) ADJUSTED OPERATING PROFIT $ 105,957 $ 81,755 $ 104,101
RESTRUCTURING CHARGES (14,571 ) (7,228 ) (12,845 ) IMPAIRMENT &
DIVESTITURE CHARGES (186,511 ) (116,979 ) (73,058 ) LOSS ON SALE OF
PRODUCT LINE DIVESTITURE (5,092 ) - - RESTRUCTURING CHARGES (14,571
) (7,228 ) (12,845 ) DIRECTOR & OFFICER TRANSITION CHARGES
- (7,784 ) - LOSS ON SALE OF
PRODUCT LINE DIVESTITURE (5,092 ) - - OPERATING PROFIT (LOSS) $
(100,217 ) $ (50,236 ) $ 18,198 DIRECTOR & OFFICER
TRANSITION CHARGES - (7,784 ) -
OPERATING PROFIT (LOSS) $ (100,217 ) $ (50,236 ) $ 18,198
ADJUSTED OPERATING PROFIT % ADJUSTED OPERATING
PROFIT % INDUSTRIAL TOOLS & SERVICES SEGMENT 21.0 % 17.8 %
17.5 % INDUSTRIAL SEGMENT 23.0 % 22.8 % 21.7 % ENGINEERED
COMPONENTS & SYSTEMS SEGMENT 2.0 % 1.6 % 4.2 % ENERGY SEGMENT
9.9 % 0.0 % 4.1 % ADJUSTED OPERATING PROFIT % 9.2 % 7.5 % 8.8 %
ENGINEERED SOLUTIONS SEGMENT 3.3 % 5.0 % 5.5 % ADJUSTED OPERATING
PROFIT % 9.2 % 7.5 % 8.8 %
EBITDA EBITDA
INDUSTRIAL TOOLS & SERVICES SEGMENT $ 137,923 $ 111,097 $
119,318 INDUSTRIAL SEGMENT $ 90,858 $ 93,707 $ 98,371 ENGINEERED
COMPONENTS & SYSTEMS SEGMENT 42,092 34,911 48,478 ENERGY
SEGMENT 59,852 16,826 28,938 CORPORATE / GENERAL (27,640 )
(23,896 ) (22,366 ) ENGINEERED SOLUTIONS SEGMENT
29,154 34,807 40,619 ADJUSTED EBITDA $ 152,375 $ 122,112 $ 145,430
CORPORATE / GENERAL (27,489 ) (23,228 )
(22,498 ) IMPAIRMENT & DIVESTITURE CHARGES (186,511 ) (116,979
) (73,058 ) ADJUSTED EBITDA $ 152,375 $ 122,112 $ 145,430
RESTRUCTURING CHARGES (14,571 ) (7,228 ) (12,845 ) IMPAIRMENT &
DIVESTITURE CHARGES (186,511 ) (116,979 ) (73,058 ) LOSS ON SALE OF
PRODUCT LINE DIVESTITURE (5,092 ) - - RESTRUCTURING CHARGES (14,571
) (7,228 ) (12,845 ) DIRECTOR & OFFICER TRANSITION CHARGES
- (7,784 ) - LOSS ON SALE OF
PRODUCT LINE DIVESTITURE (5,092 ) - - EBITDA $ (53,799 ) $ (9,879 )
$ 59,527 DIRECTOR & OFFICER TRANSITION CHARGES -
(7,784 ) - EBITDA $ (53,799 ) $ (9,879
) $ 59,527
ADJUSTED EBITDA % ADJUSTED
EBITDA % INDUSTRIAL TOOLS & SERVICES SEGMENT 23.4 % 20.1 %
20.2 % INDUSTRIAL SEGMENT 25.3 % 24.7 % 23.7 % ENGINEERED
COMPONENTS & SYSTEMS SEGMENT 7.5 % 6.4 % 8.2 % ENERGY SEGMENT
15.2 % 5.4 % 9.5 % ADJUSTED EBITDA % 13.3 % 11.1 % 12.3 %
ENGINEERED SOLUTIONS SEGMENT 7.3 % 8.6 % 8.8 % ADJUSTED EBITDA %
13.3 % 11.1 % 12.3 %
DEPRECIATION & AMORTIZATION
DEPRECIATION & AMORTIZATION INDUSTRIAL TOOLS &
SERVICES SEGMENT $ 14,999 $ 15,026 $ 15,301 INDUSTRIAL SEGMENT $
8,175 $ 7,583 $ 7,710 ENGINEERED COMPONENTS & SYSTEMS SEGMENT
31,030 26,072 23,423 ENERGY SEGMENT 21,944 18,943 16,652 CORPORATE
/ GENERAL 1,748 2,012 1,984
ENGINEERED SOLUTIONS SEGMENT 15,910 14,572 14,362 TOTAL
DEPRECIATION & AMORTIZATION $ 47,777 $ 43,110 $
40,708 CORPORATE / GENERAL 1,748 2,012
1,984 TOTAL DEPRECIATION & AMORTIZATION $
47,777 $ 43,110 $ 40,708
ACTUANT CORPORATION
SUPPLEMENTAL UNAUDITED DATA (Dollars in
thousands) NET SALES BY PRODUCT LINE
NEW REPORTING STRUCTURE FORMER REPORTING STRUCTURE
FISCAL FISCAL FISCAL FISCAL
FISCAL FISCAL 2016 2017 2018
2016 2017 2018 INDUSTRIAL TOOLS &
SERVICES SEGMENT INDUSTRIAL SEGMENT PRODUCT $ 400,780 $ 396,381 $
439,405 INDUSTRIAL TOOLS $ 314,832 $ 335,569 $ 369,546 SERVICE
& RENTAL 187,427 156,201 151,680 HEAVY LIFTING TECHNOLOGY
44,985 44,186 46,351 ENGINEERED COMPONENTS & SYSTEMS
SEGMENT ENERGY SEGMENT ON-HIGHWAY 209,575 215,831 248,083 ENERGY
MAINTENANCE & INTEGRITY 278,881 225,716 224,386 AGRICULTURE,
OFF-HIGHWAY AND OTHER 187,287 190,604 215,487 OTHER ENERGY
SOLUTIONS 113,850 83,878 78,758 ROPE & CABLE SOLUTIONS 73,813
65,169 76,011 CONCRETE TENSIONING 50,491 52,889 49,198 ENGINEERED
SOLUTIONS SEGMENT OFF-SHORE MOORING 40,037 18,709 2,747 ON-HIGHWAY
209,575 215,831 248,083 AGRICULTURE,
OFF-HIGHWAY AND OTHER 187,287 190,604 215,487
TOTAL $
1,149,410 $ 1,095,784 $ 1,182,611
TOTAL
$ 1,149,410 $ 1,095,784 $ 1,182,611
ACTUANT CORPORATION SUPPLEMENTAL UNAUDITED DATA
(Dollars in thousands) RESULTS BY REPORTING
SEGMENT NEW REPORTING STRUCTURE FORMER
REPORTING STRUCTURE FISCAL 2016 FISCAL 2016
Q1 Q2 Q3 Q4 TOTAL Q1
Q2 Q3 Q4 TOTAL SALES
SALES INDUSTRIAL TOOLS & SERVICES SEGMENT $ 154,500 $
128,811 $ 156,210 $ 148,686 $ 588,207 INDUSTRIAL SEGMENT $ 88,870 $
81,188 $ 95,750 $ 94,009 $ 359,817 ENGINEERED COMPONENTS &
SYSTEMS SEGMENT 150,511 134,478
149,131 127,083 561,203 ENERGY
SEGMENT 113,764 86,225 101,300 91,442 392,731 TOTAL $ 305,011
$ 263,289 $ 305,341 $ 275,769 $
1,149,410 ENGINEERED SOLUTIONS SEGMENT 102,377
95,876 108,291 90,318
396,862 TOTAL $ 305,011 $ 263,289 $
305,341 $ 275,769 $ 1,149,410
OPERATING PROFIT (LOSS) OPERATING PROFIT (LOSS)
INDUSTRIAL TOOLS & SERVICES SEGMENT $ 32,390 $ 23,938 $ 35,420
$ 32,061 $ 123,809 INDUSTRIAL SEGMENT $ 21,263 $ 17,003 $ 22,519 $
22,144 $ 82,929 ENGINEERED COMPONENTS & SYSTEMS SEGMENT 5,934
968 4,320 (49 ) 11,173 ENERGY SEGMENT 12,124 5,348 12,438 8,941
38,851 CORPORATE / GENERAL (8,573 ) (6,928 )
(7,901 ) (5,623 ) (29,025 ) ENGINEERED SOLUTIONS
SEGMENT 4,937 2,555 4,768 927 13,187 ADJUSTED OPERATING PROFIT $
29,751 $ 17,978 $ 31,839 $ 26,389 $ 105,957 CORPORATE / GENERAL
(8,573 ) (6,928 ) (7,886 ) (5,623 )
(29,010 ) IMPAIRMENT & DIVESTITURE CHARGES - (186,511 )
- - (186,511 ) ADJUSTED OPERATING PROFIT $ 29,751 $ 17,978 $ 31,839
$ 26,389 $ 105,957 RESTRUCTURING CHARGES (4,380 ) (3,582 ) (3,496 )
(3,113 ) (14,571 ) IMPAIRMENT & DIVESTITURE CHARGES - (186,511
) - - (186,511 ) LOSS ON SALE OF PRODUCT LINE DIVESTITURE -
- - (5,092 )
(5,092 ) RESTRUCTURING CHARGES (4,380 ) (3,582 ) (3,496 ) (3,113 )
(14,571 ) OPERATING PROFIT (LOSS) $ 25,371 $ (172,115 ) $
28,343 $ 18,184 $ (100,217 ) LOSS ON SALE OF PRODUCT
LINE DIVESTITURE - - -
(5,092 ) (5,092 ) OPERATING PROFIT (LOSS) $ 25,371
$ (172,115 ) $ 28,343 $ 18,184 $ (100,217 )
ADJUSTED OPERATING PROFIT % ADJUSTED OPERATING
PROFIT % INDUSTRIAL TOOLS & SERVICES SEGMENT 21.0 % 18.6 %
22.7 % 21.6 % 21.0 % INDUSTRIAL SEGMENT 23.9 % 20.9 % 23.5 % 23.6 %
23.0 % ENGINEERED COMPONENTS & SYSTEMS SEGMENT 3.9 % 0.7 % 2.9
% 0.0 % 2.0 % ENERGY SEGMENT 10.7 % 6.2 % 12.3 % 9.8 % 9.9 %
ADJUSTED OPERATING PROFIT % 9.8 % 6.8 % 10.4 % 9.6 % 9.2 %
ENGINEERED SOLUTIONS SEGMENT 4.8 % 2.7 % 4.4 % 1.0 % 3.3 % ADJUSTED
OPERATING PROFIT % 9.8 % 6.8 % 10.4 % 9.6 % 9.2 %
EBITDA EBITDA INDUSTRIAL TOOLS & SERVICES SEGMENT
$ 35,766 $ 27,131 $ 39,101 $ 35,925 $ 137,923 INDUSTRIAL SEGMENT $
22,959 $ 18,829 $ 24,686 $ 24,384 $ 90,858 ENGINEERED COMPONENTS
& SYSTEMS SEGMENT 13,482 9,863 11,210 7,537 42,092 ENERGY
SEGMENT 18,348 10,968 16,819 13,717 59,852 CORPORATE / GENERAL
(7,644 ) (6,867 ) (7,862 ) (5,267 )
(27,640 ) ENGINEERED SOLUTIONS SEGMENT 8,498 6,882 8,504
5,270 29,154 ADJUSTED EBITDA $ 41,604 $ 30,127 $ 42,449 $ 38,195 $
152,375 CORPORATE / GENERAL (8,201 ) (6,552 )
(7,560 ) (5,176 ) (27,489 ) IMPAIRMENT &
DIVESTITURE CHARGES - (186,511 ) - - (186,511 ) ADJUSTED EBITDA $
41,604 $ 30,127 $ 42,449 $ 38,195 $ 152,375 RESTRUCTURING CHARGES
(4,380 ) (3,582 ) (3,496 ) (3,113 ) (14,571 ) IMPAIRMENT &
DIVESTITURE CHARGES - (186,511 ) - - (186,511 ) LOSS ON SALE OF
PRODUCT LINE DIVESTITURE - - -
(5,092 ) (5,092 ) RESTRUCTURING CHARGES (4,380
) (3,582 ) (3,496 ) (3,113 ) (14,571 ) EBITDA $ 37,224 $
(159,966 ) $ 38,953 $ 29,990 $ (53,799 ) LOSS ON SALE
OF PRODUCT LINE DIVESTITURE - -
- (5,092 ) (5,092 ) EBITDA $ 37,224 $
(159,966 ) $ 38,953 $ 29,990 $ (53,799 )
ADJUSTED EBITDA % ADJUSTED EBITDA % INDUSTRIAL TOOLS
& SERVICES SEGMENT 23.1 % 21.1 % 25.0 % 24.2 % 23.4 %
INDUSTRIAL SEGMENT 25.8 % 23.2 % 25.8 % 25.9 % 25.3 % ENGINEERED
COMPONENTS & SYSTEMS SEGMENT 9.0 % 7.3 % 7.5 % 5.9 % 7.5 %
ENERGY SEGMENT 16.1 % 12.7 % 16.6 % 15.0 % 15.2 % ADJUSTED EBITDA %
13.6 % 11.4 % 13.9 % 13.9 % 13.3 % ENGINEERED SOLUTIONS SEGMENT 8.3
% 7.2 % 7.9 % 5.8 % 7.3 % ADJUSTED EBITDA % 13.6 % 11.4 % 13.9 %
13.9 % 13.3 % NOTE: The total of the individual quarters may not
equal the annual total due to rounding
ACTUANT CORPORATION SUPPLEMENTAL UNAUDITED DATA
(Dollars in thousands) RESULTS BY REPORTING
SEGMENT NEW REPORTING STRUCTURE FORMER
REPORTING STRUCTURE FISCAL 2017 FISCAL 2017
Q1 Q2 Q3 Q4 TOTAL Q1
Q2 Q3 Q4 TOTAL SALES
SALES INDUSTRIAL TOOLS & SERVICES SEGMENT $ 138,628 $
130,166 $ 147,224 $ 136,564 $ 552,582 INDUSTRIAL SEGMENT $ 87,290 $
91,648 $ 100,503 $ 100,314 $ 379,755 ENGINEERED COMPONENTS &
SYSTEMS SEGMENT 127,165 128,703
148,203 139,131 543,202 ENERGY
SEGMENT 84,646 72,884 83,480 68,584 309,594 TOTAL $ 265,793
$ 258,869 $ 295,427 $ 275,695 $ 1,095,784
ENGINEERED SOLUTIONS SEGMENT 93,857
94,337 111,444 106,797
406,435 TOTAL $ 265,793 $ 258,869 $ 295,427
$ 275,695 $ 1,095,784
OPERATING
PROFIT (LOSS) OPERATING PROFIT (LOSS) INDUSTRIAL TOOLS
& SERVICES SEGMENT $ 27,090 $ 21,583 $ 27,550 $ 22,154 $ 98,377
INDUSTRIAL SEGMENT $ 19,491 $ 19,037 $ 24,019 $ 24,076 $ 86,623
ENGINEERED COMPONENTS & SYSTEMS SEGMENT (1,436 ) 89 5,539 4,309
8,501 ENERGY SEGMENT 3,328 (647 ) 895 (3,675 ) (99 ) CORPORATE /
GENERAL (6,451 ) (6,372 ) (5,373 )
(6,928 ) (25,123 ) ENGINEERED SOLUTIONS SEGMENT 2,834 3,282
8,174 6,069 20,359 ADJUSTED OPERATING PROFIT $ 19,203 $ 15,300 $
27,716 $ 19,535 $ 81,755 CORPORATE / GENERAL (6,450 )
(6,372 ) (5,372 ) (6,935 ) (25,128 )
IMPAIRMENT & DIVESTITURE CHARGES - - - (116,979 ) (116,979 )
ADJUSTED OPERATING PROFIT $ 19,203 $ 15,300 $ 27,716 $ 19,535 $
81,755 RESTRUCTURING CHARGES (2,948 ) (2,101 ) (384 ) (1,795 )
(7,228 ) IMPAIRMENT & DIVESTITURE CHARGES - - - (116,979 )
(116,979 ) DIRECTOR & OFFICER TRANSITION CHARGES (7,784
) - - - (7,784 )
RESTRUCTURING CHARGES (2,948 ) (2,101 ) (384 ) (1,795 ) (7,228 )
OPERATING PROFIT (LOSS) $ 8,471 $ 13,199 $ 27,332
$ (99,239 ) $ (50,236 ) DIRECTOR & OFFICER TRANSITION
CHARGES (7,784 ) - - -
(7,784 ) OPERATING PROFIT (LOSS) $ 8,471 $
13,199 $ 27,332 $ (99,239 ) $ (50,236 )
ADJUSTED OPERATING PROFIT % ADJUSTED OPERATING PROFIT
% INDUSTRIAL TOOLS & SERVICES SEGMENT 19.5 % 16.6 % 18.7 %
16.2 % 17.8 % INDUSTRIAL SEGMENT 22.3 % 20.8 % 23.9 % 24.0 % 22.8 %
ENGINEERED COMPONENTS & SYSTEMS SEGMENT -1.1 % 0.1 % 3.7 % 3.1
% 1.6 % ENERGY SEGMENT 3.9 % -0.9 % 1.1 % -5.4 % 0.0 % ADJUSTED
OPERATING PROFIT % 7.2 % 5.9 % 9.4 % 7.1 % 7.5 % ENGINEERED
SOLUTIONS SEGMENT 3.0 % 3.5 % 7.3 % 5.7 % 5.0 % ADJUSTED OPERATING
PROFIT % 7.2 % 5.9 % 9.4 % 7.1 % 7.5 %
EBITDA
EBITDA INDUSTRIAL TOOLS & SERVICES SEGMENT $ 31,571 $
24,439 $ 30,103 $ 24,984 $ 111,097 INDUSTRIAL SEGMENT $ 21,217 $
21,064 $ 25,575 $ 25,851 $ 93,707 ENGINEERED COMPONENTS &
SYSTEMS SEGMENT 4,608 6,832 12,402 11,069 34,911 ENERGY SEGMENT
9,108 2,943 4,633 142 16,826 CORPORATE / GENERAL (5,452 )
(5,833 ) (5,449 ) (7,163 ) (23,896 )
ENGINEERED SOLUTIONS SEGMENT 6,281 7,277 11,716 9,533 34,807
ADJUSTED EBITDA $ 30,727 $ 25,438 $ 37,056 $ 28,890 $ 122,112
CORPORATE / GENERAL (5,879 ) (5,846 ) (4,868 )
(6,636 ) (23,228 ) IMPAIRMENT & DIVESTITURE
CHARGES - - - (116,979 ) (116,979 ) ADJUSTED EBITDA $ 30,727 $
25,438 $ 37,056 $ 28,890 $ 122,112 RESTRUCTURING CHARGES (2,948 )
(2,101 ) (384 ) (1,795 ) (7,228 ) IMPAIRMENT & DIVESTITURE
CHARGES - - - (116,979 ) (116,979 ) DIRECTOR & OFFICER
TRANSITION CHARGES (7,784 ) - -
- (7,784 ) RESTRUCTURING CHARGES (2,948 )
(2,101 ) (384 ) (1,795 ) (7,228 ) EBITDA $ 19,995 $ 23,337
$ 36,672 $ (89,884 ) $ (9,879 ) DIRECTOR &
OFFICER TRANSITION CHARGES (7,784 ) - -
- (7,784 ) EBITDA $ 19,995 $
23,337 $ 36,672 $ (89,884 ) $ (9,879 )
ADJUSTED EBITDA % ADJUSTED EBITDA % INDUSTRIAL TOOLS
& SERVICES SEGMENT 22.8 % 18.8 % 20.4 % 18.3 % 20.1 %
INDUSTRIAL SEGMENT 24.3 % 23.0 % 25.4 % 25.8 % 24.7 % ENGINEERED
COMPONENTS & SYSTEMS SEGMENT 3.6 % 5.3 % 8.4 % 8.0 % 6.4 %
ENERGY SEGMENT 10.8 % 4.0 % 5.5 % 0.2 % 5.4 % ADJUSTED EBITDA %
11.6 % 9.8 % 12.5 % 10.5 % 11.1 % ENGINEERED SOLUTIONS SEGMENT 6.7
% 7.7 % 10.5 % 8.9 % 8.6 % ADJUSTED EBITDA % 11.6 % 9.8 % 12.5 %
10.5 % 11.1 % NOTE: The total of the individual quarters may not
equal the annual total due to rounding
ACTUANT CORPORATION SUPPLEMENTAL UNAUDITED DATA
(Dollars in thousands) RESULTS BY REPORTING
SEGMENT NEW REPORTING STRUCTURE FORMER
REPORTING STRUCTURE FISCAL 2018 FISCAL 2018
Q1 Q2 Q3 Q4 TOTAL Q1
Q2 Q3 Q4 TOTAL SALES
SALES INDUSTRIAL TOOLS & SERVICES SEGMENT $ 141,991 $
136,986 $ 158,735 $ 153,373 $ 591,085 INDUSTRIAL SEGMENT $ 96,916 $
99,081 $ 108,297 $ 111,603 $ 415,897 ENGINEERED COMPONENTS &
SYSTEMS SEGMENT 146,964 138,179
158,361 148,022 591,526 ENERGY
SEGMENT 75,841 65,992 83,857 77,454 303,144 TOTAL $ 288,955
$ 275,165 $ 317,096 $ 301,395 $ 1,182,611
ENGINEERED SOLUTIONS SEGMENT 116,198
110,092 124,942 112,338
463,570 TOTAL $ 288,955 $ 275,165 $ 317,096
$ 301,395 $ 1,182,611
OPERATING
PROFIT (LOSS) OPERATING PROFIT (LOSS) INDUSTRIAL TOOLS
& SERVICES SEGMENT $ 22,218 $ 20,510 $ 32,206 $ 28,783 $
103,718 INDUSTRIAL SEGMENT $ 19,482 $ 18,493 $ 25,845 $ 26,576 $
90,396 ENGINEERED COMPONENTS & SYSTEMS SEGMENT 5,107 1,177
9,714 8,789 24,787 ENERGY SEGMENT 1,224 747 7,033 3,336 12,340
CORPORATE / GENERAL (6,023 ) (4,827 ) (8,149 )
(5,404 ) (24,404 ) ENGINEERED SOLUTIONS SEGMENT 6,618
2,409 9,039 7,633 25,698 ADJUSTED OPERATING PROFIT $ 21,302 $
16,860 $ 33,771 $ 32,168 $ 104,101 CORPORATE / GENERAL
(6,022 ) (4,789 ) (8,146 ) (5,377 )
(24,333 ) IMPAIRMENT & DIVESTITURE CHARGES - (2,987 ) - (70,071
) (73,058 ) ADJUSTED OPERATING PROFIT $ 21,302 $ 16,860 $ 33,771 $
32,168 $ 104,101 RESTRUCTURING CHARGES (6,629 )
(4,284 ) (1,186 ) (746 ) (12,845 ) IMPAIRMENT
& DIVESTITURE CHARGES - (2,987 ) - (70,071 ) (73,058 )
OPERATING PROFIT (LOSS) $ 14,673 $ 9,589 $ 32,585
$ (38,649 ) $ 18,198 RESTRUCTURING CHARGES
(6,629 ) (4,284 ) (1,186 ) (746 )
(12,845 ) OPERATING PROFIT (LOSS) $ 14,673 $ 9,589 $
32,585 $ (38,649 ) $ 18,198
ADJUSTED
OPERATING PROFIT % ADJUSTED OPERATING PROFIT %
INDUSTRIAL TOOLS & SERVICES SEGMENT 15.6 % 15.0 % 20.3 % 18.8 %
17.5 % INDUSTRIAL SEGMENT 20.1 % 18.7 % 23.9 % 23.8 % 21.7 %
ENGINEERED COMPONENTS & SYSTEMS SEGMENT 3.5 % 0.9 % 6.1 % 5.9 %
4.2 % ENERGY SEGMENT 1.6 % 1.1 % 8.4 % 4.3 % 4.1 % ADJUSTED
OPERATING PROFIT % 7.4 % 6.1 % 10.7 % 10.7 % 8.8 % ENGINEERED
SOLUTIONS SEGMENT 5.7 % 2.2 % 7.2 % 6.8 % 5.5 % ADJUSTED OPERATING
PROFIT % 7.4 % 6.1 % 10.7 % 10.7 % 8.8 %
EBITDA
EBITDA INDUSTRIAL TOOLS & SERVICES SEGMENT $ 25,567 $
24,594 $ 36,394 $ 32,763 $ 119,318 INDUSTRIAL SEGMENT $ 21,202 $
21,034 $ 27,823 $ 28,312 $ 98,371 ENGINEERED COMPONENTS &
SYSTEMS SEGMENT 11,004 7,267 15,093 15,114 48,478 ENERGY SEGMENT
5,125 4,533 11,554 7,726 28,938 CORPORATE / GENERAL (5,508 )
(5,073 ) (7,113 ) (4,672 ) (22,366 )
ENGINEERED SOLUTIONS SEGMENT 10,254 6,020 12,566 11,779 40,619
ADJUSTED EBITDA $ 31,063 $ 26,788 $ 44,374 $ 43,205 $ 145,430
CORPORATE / GENERAL (5,518 ) (4,799 ) (7,569 )
(4,612 ) (22,498 ) IMPAIRMENT & DIVESTITURE
CHARGES - (2,987 ) - (70,071 ) (73,058 ) ADJUSTED EBITDA $ 31,063 $
26,788 $ 44,374 $ 43,205 $ 145,430 RESTRUCTURING CHARGES
(6,629 ) (4,284 ) (1,186 ) (746 )
(12,845 ) IMPAIRMENT & DIVESTITURE CHARGES - (2,987 ) - (70,071
) (73,058 ) EBITDA $ 24,434 $ 19,517 $ 43,188
$ (27,612 ) $ 59,527 RESTRUCTURING CHARGES (6,629 )
(4,284 ) (1,186 ) (746 ) (12,845 )
EBITDA $ 24,434 $ 19,517 $ 43,188 $ (27,612 )
$ 59,527
ADJUSTED EBITDA % ADJUSTED EBITDA
% INDUSTRIAL TOOLS & SERVICES SEGMENT 18.0 % 18.0 % 22.9 %
21.4 % 20.2 % INDUSTRIAL SEGMENT 21.9 % 21.2 % 25.7 % 25.4 % 23.7 %
ENGINEERED COMPONENTS & SYSTEMS SEGMENT 7.5 % 5.3 % 9.5 % 10.2
% 8.2 % ENERGY SEGMENT 6.8 % 6.9 % 13.8 % 10.0 % 9.5 % ADJUSTED
EBITDA % 10.8 % 9.7 % 14.0 % 14.3 % 12.3 % ENGINEERED SOLUTIONS
SEGMENT 8.8 % 5.5 % 10.1 % 10.5 % 8.8 % ADJUSTED EBITDA % 10.8 %
9.7 % 14.0 % 14.3 % 12.3 % NOTE: The total of the individual
quarters may not equal the annual total due to rounding
ACTUANT CORPORATION SUPPLEMENTAL
UNAUDITED DATA (Dollars in thousands)
NET SALES BY PRODUCT LINE NEW REPORTING
STRUCTURE FORMER REPORTING STRUCTURE
FISCAL 2016
FISCAL 2016 Q1 Q2 Q3 Q4
TOTAL Q1 Q2 Q3 Q4 TOTAL
INDUSTRIAL TOOLS & SERVICES SEGMENT INDUSTRIAL SEGMENT
PRODUCT $ 92,975 $ 90,362 $ 109,490 $ 107,953 $ 400,780 INDUSTRIAL
TOOLS $ 79,733 $ 72,095 $ 81,770 $ 81,234 $ 314,832 SERVICE &
RENTAL 61,525 38,449 46,720 40,733 187,427 HEAVY LIFTING TECHNOLOGY
9,137 9,093 13,980 12,775 44,985 ENGINEERED COMPONENTS &
SYSTEMS SEGMENT ENERGY SEGMENT ON-HIGHWAY 54,075 49,434 58,440
47,626 209,575 ENERGY MAINTENANCE & INTEGRITY 78,835 58,551
73,377 68,118 278,881 AGRICULTURE, OFF-HIGHWAY AND OTHER 48,302
46,442 49,851 42,692 187,287 OTHER ENERGY SOLUTIONS 34,929 27,674
27,923 23,324 113,850 ROPE & CABLE SOLUTIONS 22,391 15,938
18,231 17,253 73,813 CONCRETE TENSIONING 13,205 10,928 12,917
13,441 50,491 ENGINEERED SOLUTIONS SEGMENT OFF-SHORE MOORING 12,538
11,736 9,692 6,071 40,037 ON-HIGHWAY 54,075 49,434 58,440 47,626
209,575 AGRICULTURE, OFF-HIGHWAY
AND OTHER 48,302 46,442 49,851 42,692 187,287
TOTAL $
305,011 $ 263,289 $ 305,341 $ 275,769 $ 1,149,410
TOTAL $ 305,011 $ 263,289 $ 305,341 $
275,769 $ 1,149,410 NOTE: The total of the individual quarters may
not equal the annual total due to rounding
ACTUANT CORPORATION SUPPLEMENTAL UNAUDITED
DATA (Dollars in thousands) NET SALES
BY PRODUCT LINE NEW REPORTING STRUCTURE FORMER
REPORTING STRUCTURE FISCAL 2017 FISCAL 2017
Q1 Q2 Q3 Q4 TOTAL Q1
Q2 Q3 Q4 TOTAL INDUSTRIAL TOOLS
& SERVICES SEGMENT INDUSTRIAL SEGMENT PRODUCT $ 93,415 $ 94,406
$ 105,615 $ 102,945 $ 396,381 INDUSTRIAL TOOLS $ 79,039 $ 78,679 $
87,404 $ 90,447 $ 335,569 SERVICE & RENTAL 45,213 35,760 41,609
33,619 156,201 HEAVY LIFTING TECHNOLOGY 8,251 12,969 13,099 9,867
44,186 ENGINEERED COMPONENTS & SYSTEMS SEGMENT ENERGY
SEGMENT ON-HIGHWAY 51,630 50,611 57,710 55,880 215,831 ENERGY
MAINTENANCE & INTEGRITY 64,821 51,590 59,905 49,400 225,716
AGRICULTURE, OFF-HIGHWAY AND OTHER 42,227 43,726 53,734 50,917
190,604 OTHER ENERGY SOLUTIONS 19,825 21,294 23,575 19,184 83,878
ROPE & CABLE SOLUTIONS 14,293 15,342 19,439 16,095 65,169
CONCRETE TENSIONING 13,483 13,072 13,184 13,150 52,889 ENGINEERED
SOLUTIONS SEGMENT OFF-SHORE MOORING 5,532 5,952 4,136 3,089 18,709
ON-HIGHWAY 51,630 50,611 57,710 55,880 215,831
AGRICULTURE, OFF-HIGHWAY AND OTHER 42,227 43,726
53,734 50,917 190,604
TOTAL $ 265,793 $ 258,869 $ 295,427 $
275,695 $ 1,095,784
TOTAL
$ 265,793 $ 258,869 $ 295,427 $ 275,695 $ 1,095,784 NOTE: The total
of the individual quarters may not equal the annual total due to
rounding
ACTUANT CORPORATION
SUPPLEMENTAL UNAUDITED DATA (Dollars in
thousands) NET SALES BY PRODUCT LINE
NEW REPORTING STRUCTURE FORMER REPORTING STRUCTURE
FISCAL 2018 FISCAL 2018 Q1 Q2 Q3
Q4 TOTAL Q1 Q2 Q3 Q4
TOTAL INDUSTRIAL TOOLS & SERVICES SEGMENT
INDUSTRIAL SEGMENT PRODUCT $ 101,120 $ 105,301 $ 115,722 $ 117,262
$ 439,405 INDUSTRIAL TOOLS $ 84,510 $ 87,438 $ 98,970 $ 98,628 $
369,546 SERVICE & RENTAL 40,871 31,685 43,013 36,111 151,680
HEAVY LIFTING TECHNOLOGY 12,406 11,643 9,327 12,975 46,351
ENGINEERED COMPONENTS & SYSTEMS SEGMENT ENERGY SEGMENT
ON-HIGHWAY 64,882 59,297 66,556 57,348 248,083 ENERGY MAINTENANCE
& INTEGRITY 56,710 48,889 63,421 55,366 224,386 AGRICULTURE,
OFF-HIGHWAY AND OTHER 51,316 50,795 58,386 54,990 215,487 OTHER
ENERGY SOLUTIONS 19,131 17,103 20,436 22,088 78,758 ROPE &
CABLE SOLUTIONS 16,386 17,101 20,436 22,088 76,011 CONCRETE
TENSIONING 11,635 10,984 12,983 13,596 49,198 ENGINEERED SOLUTIONS
SEGMENT OFF-SHORE MOORING 2,745 2 - - 2,747 ON-HIGHWAY 64,882
59,297 66,556 57,348 248,083
AGRICULTURE, OFF-HIGHWAY AND OTHER 51,316 50,795 58,386 54,990
215,487
TOTAL $ 288,955 $ 275,165 $ 317,096 $ 301,395 $
1,182,611
TOTAL $ 288,955
$ 275,165 $ 317,096 $ 301,395 $ 1,182,611 NOTE: The total of the
individual quarters may not equal the annual total due to rounding
ACTUANT CORPORATION SUPPLEMENTAL UNAUDITED
DATA (Dollars in thousands) FISCAL
2016 FISCAL 2017 FISCAL 2018 Q1
Q2 Q3 Q4 TOTAL
Q1 Q2 Q3 Q4
TOTAL Q1 Q2 Q3
Q4 TOTAL ADJUSTED EBITDA NET EARNINGS
(LOSS) (GAAP MEASURE) $ 15,448 $ (159,190) $ 21,166 $ 17,402 $
(105,174) $ 4,965 $ 5,074 $ 22,511 $ (98,764) $ (66,213) $ 5,226 $
(18,221) $ 29,012 $ (37,664) $ (21,648) FINANCING COSTS, NET 7,117
6,866 7,253 7,532 28,768 7,132 7,334 7,553 7,683 29,703 7,514 7,604
7,756 8,617 31,491 INCOME TAX (BENEFIT) EXPENSE 2,187 (20,026)
(827) (6,504) (25,170) (2,998) 200 (4,029) (9,651) (16,478) 1,604
19,839 (3,995) (8,472) 8,976 DEPRECIATION & AMORTIZATION 12,472
12,384 11,361 11,560 47,777 10,896
10,729 10,637 10,848 43,110 10,090
10,295 10,415 9,907 40,708 EBITDA $
37,224 $ (159,966) $ 38,953 $ 29,990 $ (53,799) $ 19,995 $ 23,337 $
36,672 $ (89,884) $ (9,879) $ 24,434 $ 19,517 $ 43,188 $ (27,612) $
59,527 IMPAIRMENT & OTHER DIVESTITURE CHARGES - 186,511 -
186,511 - - - 116,979 116,979 - 2,987 - 70,071 73,058 DIRECTOR
& OFFICER TRANSITION CHARGES - - - - - 7,784 - - - 7,784 - - -
- - LOSS ON SANLO PRODUCT LINE DIVESTITURE - - - 5,092 5,092 - - -
- - - - - - - RESTRUCTURING CHARGES 4,380 3,582 3,496
3,113 14,571 2,948 2,101 384
1,795 7,228 6,629 4,284 1,186 746
12,845 ADJUSTED EBITDA $ 41,604 $ 30,127 $
42,449 $ 38,195 $ 152,375 $ 30,727 $ 25,438
$ 37,056 $ 28,890 $ 122,112 $ 31,063 $
26,788 $ 44,374 $ 43,205 $ 145,430
NOTES: The total of the individual quarters may not equal the
annual total due to rounding. EBITDA represents net earnings
(loss) before financing costs, net, income tax (benefit) expense,
and depreciation & amortization. EBITDA is not a calculation
based upon generally accepted accounting principles (GAAP). The
amounts included in the EBITDA and Adjusted EBITDA calculation,
however, are derived from amounts included in the Condensed
Consolidated Statements of Operations. EBITDA should not be
considered as an alternative to net earnings (loss), operating
profit (loss) or operating cash flows. Actuant has presented EBITDA
because it regularly reviews this performance measure. In addition,
EBITDA is used by many of our investors and lenders, and is
presented as a convenience to them. The EBITDA measure presented
may not always be comparable to similarly titled measures reported
by other companies due to differences in the components of the
calculation.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181004005889/en/
Actuant CorporationBarb BolensVP Corporate Strategy &
Investor Relations262-293-1562
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