Lufkin Posts Strong Q3 Profit But Sees Weakness Ahead
Lufkin Industries (LUFK), which makes equipment for electrical power transmission and oilfields, met third-quarter profit estimates and topped revenue expectations. But it guided for profit and sales in the current quarter below Wall Street's prior outlook. Earnings per share climbed 32% to 78 cents, matching forecasts, as revenue jumped 47% to $340.4 million, topping projections of $330.3 million. The rise in earnings reversed a slide in the
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