Altra Indl Motion (AIMC) Stock News, Apr 30, 2020

Altra Industrial Motion Corp. (AIMC) reported Q1 2020 net sales of $434.2 million, down from $482.8 million in Q1 2019, reflecting an 8.6% organic sales decline. The company also posted a net loss of $116.6 million, or $1.81 per diluted share, driven by a $147.5 million non-cash impairment charge. Non-GAAP adjusted EBITDA was $85.9 million, or 19.8% of net sales. Altra is adapting to COVID-19 impacts with safety measures and strong liquidity, ending with approximately $525 million in cash and revolving credit availability. Full-year 2020 guidance was revised to anticipate sales between $1.54 billion and $1.62 billion.