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Enerpac Tool Group Corp. - EPAC STOCK NEWS

Welcome to our dedicated page for Enerpac Tool Group news (Ticker: EPAC), a resource for investors and traders seeking the latest updates and insights on Enerpac Tool Group stock.

Enerpac Tool Group Corp. (NYSE: EPAC) is a leading manufacturer and provider of industrial products and solutions with a global footprint. Founded in 1910 and headquartered in Menomonee Falls, Wisconsin, the company operates in two primary segments: Industrial Tools & Services (IT&S) and Other.

The IT&S segment designs, manufactures, and distributes branded hydraulic and mechanical tools. It provides services and tool rentals to a variety of markets including industrial, maintenance, infrastructure, oil and gas, and energy. Key offerings in this segment include high-force hydraulic and mechanical tools, such as cylinders, pumps, valves, and specialty tools. The segment is also known for its engineered heavy lifting technology solutions and hydraulic torque wrenches, marketed primarily under the Enerpac, Hydratight, Larzep, and Simplex brands.

The Other segment focuses on the design and manufacture of synthetic ropes and biomedical assemblies, showcasing the company's diverse product portfolio.

Enerpac Tool Group’s comprehensive range of products and solutions make complex, often hazardous jobs possible in a safe and efficient manner. The company’s offerings are crucial for precise heavy lifting and controlled-force applications. With operations extending across the United States, Asia, Australia, Europe, and the Middle East, the U.S. market remains the largest revenue contributor.

In recent developments, Enerpac Tool Group has reported its Second Quarter Fiscal 2024 Consolidated Results, reflecting its ongoing commitment to delivering high-quality industrial tools and services. The company continues to innovate and expand its product lines to meet the evolving needs of its broad and diverse customer base.

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Enerpac Tool Group (NYSE:EPAC) announced the appointment of Eric Chack as Executive Vice President (EVP) of Operations, effective July 22, 2024.

Chack will oversee all aspects of the company's global operations, including manufacturing, procurement, logistics, and quality. He will report directly to Paul Sternlieb, President and CEO, and will join the executive leadership team.

Chack brings extensive experience from his previous roles at Mohawk Industries, Briggs & Stratton, SPX , and IDEX , and has served as an Infantry Officer in the US Marine Corps.

Sternlieb highlighted Chack's strategic leadership and operational expertise, while Chack expressed enthusiasm for driving competitive advantage through operational excellence and efficiency.

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Enerpac Tool Group reported its fiscal third quarter results for 2024, revealing net sales of $150.4 million, a 3.8% decline from the previous year due to the disposition of Cortland Industrial. Despite this, organic sales increased by 1.2%. The company achieved a 200 basis point gross margin expansion to 51.8%, driven by favorable pricing actions and sales mix.

Operating profit rose 31% year-over-year to $33.4 million, with an adjusted operating profit of $37.0 million, up 9%. Net earnings were $22.6 million, or $0.41 per share, and adjusted net earnings were $26 million, or $0.47 per share. Adjusted EBITDA increased by 6% to $40 million, with a margin expansion of 240 basis points to 26.4%.

The company narrowed its full-year organic revenue growth forecast to 2% to 3%, adjusting EBITDA guidance upwards due to better-than-expected margin performance. Free cash flow guidance remains at $60 million to $70 million. Key strategic initiatives and operational efficiencies are driving these positive results.

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Enerpac Tool Group (NYSE: EPAC) will release its third quarter fiscal 2024 earnings after the market closes on Monday, June 24, 2024. The company will hold a conference call to discuss the results on Tuesday, June 25, 2024, at 8:30 a.m. ET / 7:30 a.m. CT. A live webcast of the conference call will be available in the Investors section of the company's website, with a replay accessible for 90 days. Enerpac, a leader in industrial tools and solutions, serves customers in over 100 countries and specializes in high-pressure hydraulic tools and solutions for positioning heavy loads. Founded in 1910, Enerpac is headquartered in Menomonee Falls, Wisconsin.

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Enerpac Tool Group (NYSE: EPAC) announced the release of its third quarter fiscal 2024 earnings on June 24, 2024, after the market closes. A conference call to discuss the results will be held on June 25, 2024, at 8:30 a.m. ET / 7:30 a.m. CT, accessible via a real-time webcast on the company's website.

A replay of the call will be available for 90 days post-broadcast. Enerpac Tool Group, a leading provider of industrial tools and services, serves customers in over 100 countries with a focus on high-pressure hydraulic tools and load positioning solutions. The company's stock trades on the NYSE under the symbol EPAC.

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Enerpac Tool Group Corp. (NYSE: EPAC) reported solid second-quarter results despite a 2% decline in net sales, with organic sales up 2%. Gross margin expanded to 51.6%, and adjusted EBITDA increased by 6% year-over-year. The company remains on track to achieve full-year guidance and long-term financial objectives.
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Enerpac Tool Group Corp. (EPAC) will release its Q2 fiscal 2024 earnings on March 20, 2024, followed by a conference call on March 21, 2024. The webcast will be available for replay for 90 days.
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Enerpac Tool Group Corp. (EPAC) announced that Anthony Colucci is stepping down as CFO to assume a role at a private equity firm. The company has initiated a search for the next CFO and appointed interim principal financial and accounting officers. The CEO expressed gratitude for Colucci's contributions, and the departing CFO expressed confidence in the company's future. The interim CFO, P. Shannon Burns, has a strong finance background, and Patrick Dawson has been appointed as the interim principal accounting officer.
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Enerpac Tool Group Corp. (NYSE: EPAC) reported net sales of $142 million, a 1.9% increase year-over-year, with organic growth of 5.5%. Gross margin expanded 360 basis points year-over-year to 52.3%. GAAP operating margin was 20.2% and adjusted operating margin was 22.8%. Net earnings were $18 million, or $0.33 per share. Adjusted EBITDA was $35 million, an increase of 31% year-over-year. The company returned approximately $26 million to shareholders through share repurchases.
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Enerpac Tool Group Corp. (NYSE: EPAC) will release its Q1 fiscal 2024 earnings on December 19, 2023, with a conference call scheduled for December 20, 2023. The webcast will be available for replay for 90 days.
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Enerpac Tool Group Corp. (NYSE: EPAC) will present at the Baird Global Industrial Conference on November 8, 2023. The President and CEO, Paul Sternlieb, and CFO, Tony Colucci, will present at 3:30 p.m. CT. Materials will be available on the company's website.
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FAQ

What does Enerpac Tool Group Corp. do?

Enerpac Tool Group Corp. manufactures and provides industrial tools and solutions, including hydraulic and mechanical tools, and operates globally.

When was Enerpac Tool Group Corp. founded?

Enerpac Tool Group Corp. was founded in 1910.

What are the main segments of Enerpac Tool Group Corp.?

The company operates in two main segments: Industrial Tools & Services (IT&S) and Other.

What brands fall under Enerpac Tool Group Corp.?

Key brands include Enerpac, Hydratight, Larzep, and Simplex.

Where is Enerpac Tool Group Corp. headquartered?

The company is headquartered in Menomonee Falls, Wisconsin.

Which markets does Enerpac Tool Group Corp. serve?

It serves a variety of markets including industrial, maintenance, infrastructure, oil and gas, and energy.

What are some key products offered by Enerpac Tool Group Corp.?

Key products include high-force hydraulic and mechanical tools, engineered heavy lifting technology solutions, and hydraulic torque wrenches.

What is the ticker symbol for Enerpac Tool Group Corp.?

The ticker symbol is EPAC.

What recent achievements has Enerpac Tool Group Corp. reported?

The company recently reported its Second Quarter Fiscal 2024 Consolidated Results.

How can I find more information about Enerpac Tool Group Corp.?

Visit the company's website at www.enerpactoolgroup.com for more information.

Enerpac Tool Group Corp.

NYSE:EPAC

EPAC Rankings

EPAC Stock Data

2.19B
54.30M
0.91%
99.98%
1.11%
Industrial Valve Manufacturing
Manufacturing
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United States of America
MENOMONEE FALLS