Gardner Denver: 2Q Earnings Snapshot
Aug. 01, 2018
MILWAUKEE (AP) _ Gardner Denver Holdings Inc. (GDI) on Wednesday reported second-quarter net income of $60.3 million, after reporting a loss in the same period a year earlier.
The Milwaukee-based company said it had profit of 29 cents per share. Earnings, adjusted for non-recurring costs, were 44 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The maker of flow control and compression equipment posted revenue of $668.2 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $667.3 million.
Gardner Denver shares have fallen 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.66, an increase of 23 percent in the last 12 months.