Enerpac Tool Group (EPAC) Tops Q2 EPS by 1c

Enerpac Tool Group (NYSE: EPAC) reported Q2 EPS of $0.14, $0.01 better than the analyst estimate of $0.13. Revenue for the quarter came in at $137 million versus the consensus estimate of $128.23 million.

Outlook:

Mr. Sternlieb continued, “As we move into the back half of our fiscal year, our focus is on successfully executing on our new ASCEND transformation program and accelerating shareholder value creation. Despite the strong quarter, the turmoil of global events in the last month and the resulting macroeconomic challenges have created second half headwinds and uncertainty in our markets, and as such we are adjusting our full year guidance for fiscal 2022.

“Factors such as the stronger US Dollar, which accounts for roughly half of the impact to our new net sales guidance, continued inflationary pressures, continued supply chain disruptions as well as greater supply chain difficulties resulting from the Russia-Ukraine conflict and, to a lesser extent product sold directly into Russia which has been suspended to comply with sanctions, have caused us to revise our full year sales guidance, to a new range of $560 to $580 million. While we have some potential tailwinds that could help support growth, we remain cautious. We continue to expect incremental EBITDA margins*** of 35% to 45% excluding the impact of foreign currency.”

For earnings history and earnings-related data on Enerpac Tool Group (EPAC) click here.

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