Enerpac Tool Group Corp Stock Price, News & Analysis

Enerpac Tool Group (NYSE:EPAC) announced that Markus Limberger will be joining as EVP – Operations, effective September 1. Limberger, previously VP of Global Operations at Danaher’s Leica Microsystems, will manage all global operations including manufacturing and procurement. CEO Paul Sternlieb expressed confidence in Limberger's expertise to enhance global operational excellence and drive the ASCEND transformation program, aiming for improved quality and reduced costs.

Enerpac Tool Group Corp. (NYSE: EPAC) has declared a cash dividend of $0.04 per common share. This annual dividend will be payable on October 17, 2022, to shareholders of record by the close of business on October 7, 2022. Enerpac, headquartered in Menomonee Falls, Wisconsin, specializes in hydraulic tools and services across over 100 countries, providing solutions for heavy load positioning and high-pressure tasks.

Enerpac Tool Group Corp. (NYSE: EPAC) reported a 3rd quarter fiscal 2022 net sales of $152 million, reflecting a 10% increase year-over-year despite a 4% reduction from unfavorable currency exchange. GAAP diluted EPS was $0.07, while adjusted diluted EPS reached $0.16. An $11 million increase in accounts receivable reserves adversely impacted adjusted EBITDA margin by approximately 720 basis points. The company repurchased 1.8 million shares for around $36 million and refined its full year net sales guidance to $560-$570 million.

Enerpac Tool Group Corp. (NYSE: EPAC) will release its fiscal 2022 third quarter results on June 28, 2022. A news release with detailed financial results will be shared before the market opens on the same day. Management will host a conference call at 10:00 a.m. CT to discuss these results. This call can be accessed through the company's website. The company, known for its hydraulic tools and services, operates globally and serves customers in over 100 countries.

Energac Tool Group Corp. (NYSE: EPAC) announced that Anthony 'Tony' Colucci will be the new EVP and Chief Financial Officer starting May 30, 2022. He will lead the finance and IT functions globally and report to Paul Sternlieb, President & CEO. Colucci previously served at Robertshaw Industries and has a strong finance background from Hayward Industries and Honeywell International. His expertise aims to enhance operational excellence and drive growth as the company embarks on its ASCEND transformation program.

Enerpac Tool Group (NYSE: EPAC) has launched the ASCEND Program aimed at enhancing business transformation and driving accelerated earnings growth. The Board has also authorized a 10 million share repurchase program, reflecting confidence in the company's financial position. The ASCEND initiative focuses on improving organic growth strategies, operational efficiency, and enhancing SG&A productivity. Enerpac anticipates an incremental $40-$50 million in annual adjusted EBITDA from ASCEND, with a planned investment of $60-$65 million over 30 months.

Enerpac Tool Group Corp. (NYSE: EPAC) reported second quarter fiscal 2022 net sales of $136.6 million, up 16% year-over-year. However, net income decreased to $2.1 million, or $0.03 per diluted share. Adjusted diluted EPS improved to $0.14, reflecting strong core sales growth across all regions, despite ongoing supply chain challenges. The company updated its full-year guidance to $560-$580 million due to macroeconomic pressures, including inflation and foreign currency impacts. Additionally, a new share repurchase program of up to 10 million shares was authorized to enhance shareholder value.

Enerpac Tool Group (NYSE: EPAC) will announce its fiscal 2022 second quarter results on March 23, 2022, with a pre-market news release. A conference call is set for 10:00 a.m. CT / 11:00 a.m. ET to discuss results. Investors can access the live call through the company's website, with a replay available for 90 days.

Enerpac, headquartered in Menomonee Falls, Wisconsin, operates in over 100 countries, specializing in high-pressure hydraulic tools and solutions for heavy load positioning.

Enerpac Tool Group (NYSE: EPAC) announced the departure of Rick Dillon, the Chief Financial Officer, who has served since 2016. His last day will be April 30, 2022, with a smooth transition planned. The company is actively searching for a new CFO and has engaged an executive search firm. CEO Paul Sternlieb commended Dillon's contributions during his tenure, particularly through the challenges posed by the pandemic. Dillon clarified that his departure is not due to any operational disagreements. Enerpac is a leader in industrial tools and services across over 100 countries.