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What: Shares of industrial parts and systems builder Actuant
So what: In this morning's first-quarter report, Actuant beat earnings estimates by 16% on a 4% positive sales surprise. Management followed up by guiding the rest of the year somewhat above Street consensus.
Now what: The company enjoyed at least 12% year-over-year sales growth in its energy and industrial segments, followed by 7% higher core sales in electrical equipment and flat sales of engineered products. The strongest-performing divisions also happen to have the highest profit margins, which is great news for the bottom line. The market is taking this performance as a show of strength from Actuant rather than a sector-boosting improvement in end markets -- rivals Eaton
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