Sun Hydraulics: 2Q Earnings Snapshot
Posted Aug 3, 2020 06:03:54 PM.
Last Updated Aug 3, 2020 06:10:23 PM.
This article is more than 5 years old.
SARASOTA, Fla. (AP) _ Sun Hydraulics Corp. (HLIO) on Monday reported second-quarter earnings of $12.9 million.
On a per-share basis, the Sarasota, Florida-based company said it had profit of 40 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 55 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The maker of screw-in hydraulic cartridge valves and manifolds posted revenue of $119.3 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $105.3 million.
Sun Hydraulics shares have dropped 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $38.26, a decline of 15% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLIO at https://www.zacks.com/ap/HLIO
The Associated Press
