Benzinga | Jul 23, 2021 07:21AM EDT

Altra Industrial Motion: Q2 Earnings Insights



Shares of Altra Industrial Motion (NASDAQ:AIMC) were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share were up 48.33% year over year to $0.89, which beat the estimate of $0.81.

Revenue of $488,600,000 rose by 21.91% year over year, which beat the estimate of $467,960,000.

Outlook

Altra raised FY21 adjusted EPS guidance from $3.09-$3.24 to 3.30-$3.46.

The company also raised sales guidance from $1.82 billion-$1.85 billion to $1.89 billion-$1.92 billion.

Conference Call Details

Date: Jul 23, 2021

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fir.altramotion.com%2F&eventid=3190837&sessionid=1&key=A54FD61DDC741D0401855A32FD365638&regTag=&V2=false&sourcepage=register

Technicals

52-week high: $68.07

Company's 52-week low was at $32.39

Price action over last quarter: Up 6.42%

Company Overview

Altra Industrial Motion Corp is a United States-based company that designs, manufactures, and sells a wide range of mechanical power transmission and motion control products. The company operates through two business segments based on product types and end markets served: the power transmission technologies segment and the automation and specialty segment. The company's product portfolio consists of products such as clutches, brakes, gears, and motion controllers and braking systems, which are used in heavy industrial applications, energy markets, medical, packaging, automation, robotic, and other industries. The company earns most of its revenue in North America ( primarily the United States).