Braintree-Based Altra Surpasses Wall Street Expectations

BRAINTREE — Altra Industrial Motion Corp. (AIMC) on Tuesday reported second-quarter earnings of $15.4 million.

On a per-share basis, the Braintree-based company said it had net income of 53 cents. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The industrial products company posted revenue of $223.4 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $220.8 million.

Altra expects full-year earnings in the range of $1.95 to $2.05 per share.

Altra shares have climbed slightly more than 7 percent since the beginning of the year. The stock has climbed 40 percent in the last 12 months.

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