Colfax reported good Q2 2018 results
Colfax Corp. (NYSE:CFX) reported better than expected Q2 2018 results!
The company reported net income from continuing operations per diluted share of $0.52 versus $0.30 in the prior year quarter and increased full year adjusted net income per share outlook from $2.05-$2.20 to $2.15-$2.30
Matt Trerotola, Colfax CEO said, “recent acquisitions are performing as expected, the Fabrication Technology business posted significant global growth, and Air & Gas Handling operating margins expanded sequentially from the first quarter as expected.”
“Air & Gas Handling industrial segment orders grew organically 24% year over year in the quarter, reflecting the successful long-term diversification of the business into higher-growth, less cyclical end markets.”
It seems that finally after several years Colfax industrial end markets are improving. The company has a strong balance sheet and is able to execute its acquisition strategy in order to complement their existing businesses.
Let’s wait and see where Colfax will be positioned at the end of this year 2018! Shareholders should be cautious after the negative experience of the last painful years but definitely there are signs of improvement! Until then Colfax remains a “hold”!