UPDATE: Robbins & Myers Posts Better-Than-Expected Q3 Profit, Issues Downbeat Q4 Forecast
Robbins & Myers (NYSE: RBN) posted a better-than-expected third-quarter profit, but issued a downbeat fourth-quarter profit forecast.
Robbins & Myers projects Q4 adjusted earnings of $0.90 to $1.00 per share, versus analysts' estimates of $1.05 per share.
Its quarterly net income dropped to $44.2 million, or $1.02 per share, versus $71 million, or $1.54 per share, in the year-earlier period. On an adjusted basis, Robbins & Myers earned $0.92 per share from continuing operations.
Its sales climbed 12% to $266.3 million. However, analysts were projecting earnings of $0.90 per share on revenue of $267.2 million.
Robbins & Myers shares gained 0.53% to $41.50 in pre-market trading.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.