AIMC - Altra Industrial Motion +6.7% after beating expectation raised guidance

Altra Industrial Motion (AIMC) is up 6.60% after Q3 earnings, where revenue beat top-line expectation and the company presented sharply higher guidance for FY20.Q3 revenue of $437.8M (-1.2% Y/Y), up $43.94M from market consensus. Segment Sales: Power Transmission Technologies (-9.6%) and Automation & Specialty (+7.1%).Operating income margin of 14.9% vs. 11% a year ago."All of our operating businesses exceeded expectations, with demand especially strong for Class 8 trucks in China, and in the medical and renewable energy markets," says chairman and CEO Carl Christenson.Quarterly dividend increased by 50% to $0.06.Non-GAAP net income of $56.5M, or $0.87 per diluted share, compared to $44.3M, or $0.69 per diluted share in Q3 2019.The company paid down $60M on its outstanding term loan taking its  cash balance and availability under the revolving credit facility to $238.7M and $294.8M, respectively, at the end of the quarter. For the full year, it's raising its revenue guidance to $1.69B-$1.71B, above consensus for $1.63B, and sees adj. EPS

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Altra Industrial Motion +6.7% after beating expectation, raised guidance