Enerpac Tool Group Corp Stock Price, News & Analysis

STRATTEC SECURITY (Nasdaq: STRT) has appointed Matthew Pauli as Senior Vice President and Chief Financial Officer, effective November 13, 2024. Pauli succeeds Dennis Bowe, who will continue in an advisory role during the transition. Pauli brings over 20 years of financial management experience, most recently serving as Executive Advisor and CFO of CentroMotion. The appointment aligns with STRATTEC's ongoing transformation, focusing on operational change, data analytics, and information systems. CEO Jennifer Slater emphasized the need for operational financial proficiency to achieve more predictable financial outcomes and drive cash generation.

Enerpac Tool Group (NYSE: EPAC) reported fiscal 2024 results, highlighting a 1.5% decline in net sales to $590 million, but a 2.2% organic growth. Gross margin expanded by 180 basis points to 51.1%. Operating margin was 20.6% and adjusted operating margin was 23.2%. Net earnings rose by 53% to $82 million, with adjusted net earnings of $95 million, a 14% increase. Diluted EPS was $1.50, and adjusted diluted EPS was $1.72. Adjusted EBITDA grew by 8% to $147 million, with a margin of 25.0%. Cash from operations was $81 million, and free cash flow was $70 million. In Q4, net sales declined by 1.2% to $159 million, with a 0.9% increase in organic sales. Net earnings were $23 million, or $0.43 per diluted share, and adjusted net earnings were $27 million, or $0.50 per diluted share. The company acquired DTA on September 4, 2024. For fiscal 2025, Enerpac forecasts net sales of $610 million to $625 million, adjusted EBITDA of $150 million to $160 million, and free cash flow of $85 million to $95 million.

Enerpac Tool Group Corp. (NYSE: EPAC) has announced the appointment of Darren M. Kozik as Executive Vice President and Chief Financial Officer, effective October 28, 2024. Kozik, who brings 25 years of finance experience, will oversee all aspects of the company's finance and IT functions globally. He joins Enerpac from ManpowerGroup, where he most recently served as SVP, Global Corporate Finance.

Kozik's previous roles include CFO of Mortara Instrument and various positions at General Electric. He holds a BSBA in Economics from Saint Louis University and an MBA from Northwestern University's Kellogg School of Management. Paul Sternlieb, Enerpac's President & CEO, expressed confidence in Kozik's ability to contribute to the company's growth strategy.

Enerpac Tool Group Corp. (NYSE: EPAC) has announced the schedule for its fourth quarter fiscal 2024 earnings release and conference call. The company will release its earnings after market close on Tuesday, October 15, 2024. A conference call to discuss the results will be held on Wednesday, October 16, 2024, at 8:30 a.m. ET / 7:30 a.m. CT. Investors can access a real-time webcast of the call via the company's website. A replay will be available for 90 days after the call.

Enerpac Tool Group is a global provider of industrial tools, services, technology, and solutions, serving customers in over 100 countries. The company specializes in high pressure hydraulic tools, controlled force products, and precise positioning solutions for heavy loads.

Enerpac Tool Group Corp. (NYSE: EPAC) has acquired DTA The Smart Move, S.A., a Madrid-based leader in industrial heavy loads transportation, for €24 million plus a potential three-year earn-out. This acquisition aligns with Enerpac's strategy to expand its Heavy Lifting Technology portfolio by adding automated on-site horizontal movement products. DTA's expertise will enhance Enerpac's offerings in rail, wind, infrastructure, aerospace, and nuclear sectors.

For fiscal 2025, DTA is projected to generate €20 million in revenue with a neutral effect on adjusted EPS, excluding one-time costs and synergies. The acquisition aims to capitalize on the trend towards greater automation in industrial processes and is expected to create value for customers and shareholders.

Enerpac Tool Group Corp. (NYSE: EPAC) has announced a cash dividend on its Class A common stock. The annual dividend of $0.04 per common share will be paid on October 18, 2024 to shareholders of record as of the close of business on October 7, 2024. This announcement demonstrates the company's commitment to returning value to shareholders, albeit with a relatively modest dividend yield. The declaration of a dividend can be seen as a positive signal of the company's financial health and confidence in its future prospects.

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.

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.

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.