Enerpac Tool Group (EPAC) Misses Q2 EPS by 3c, Revenues Miss
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Enerpac Tool Group Reports Second Quarter 2020 Results
March 19, 2020 8:30 AM EDTSecond Quarter of Fiscal 2020 Highlights*
Net sales from continuing operations were $133 million for the quarter. Core sales decreased 10% year-over-year, with product sales declining 4% and service sales declining 28%. The net impact on sales from acquisitions and divestitures/strategic exits was a reduction of 6% while foreign currency had a minimal impact on sales. GAAP operating margin from continuing operations was 6.4% for the quarter versus 7.8% in the second quarter of fiscal 2019. Adjusted operating margin from continuing operations was 7.4% for the quarter ended February 29, 2020 compared to 10.0% for the quarter ended February 28, 2019. Adjusted EBITDA margin from continuing... More