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.
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
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.
Enerpac Tool Group Corp. (NYSE: EPAC) announced the appointment of Scott Vuchetich as EVP – Marketing and President – Americas. He will oversee commercial and operational activities in the Americas and lead the global marketing function. Previously with Brady Corporation, Vuchetich brings a wealth of experience in driving growth and performance improvement. His role will streamline the company’s structure and enhance connections between marketing and commercial execution. CEO Paul Sternlieb emphasized this strategic move for growth opportunities.
Enerpac Tool Group Corp. (NYSE: EPAC) reported net sales of $131 million for Q1 FY2022, up 9% year-over-year. GAAP operating margin was 4.9%, while adjusted EBITDA margin reached 13.4%. The diluted EPS from continuing operations was $0.05, with adjusted diluted EPS at $0.16. Despite the impact of global supply chain issues and inflation, the company reiterated its full-year guidance of $590-$610 million in sales and expects adjusted EBITDA margins of 35-45%. CEO Paul Sternlieb expressed confidence in the company’s growth potential.
Enerpac Tool Group Corp. (NYSE: EPAC) has appointed Lynn Minella to its Board of Directors effective January 25, 2022. With over 40 years of global human resources experience, Minella has held leadership roles at notable companies such as BAE Systems and Johnson Controls. Chairman Jim Ferland expressed confidence that her background will enhance board governance and strategic oversight as the company focuses on growth in its industrial tools sector.
Enerpac Tool Group (NYSE: EPAC) is set to release its fiscal 2022 first quarter results on December 21, 2021, before the market opens. A conference call will follow at 10:00 a.m. CT to discuss the results. Stakeholders can access the call through the company's website along with a presentation that will be available afterwards. Operating globally in over 100 countries, Enerpac Tool Group specializes in high-pressure hydraulic tools and solutions for heavy load positioning.
Enerpac Tool Group Corp. (NYSE: EPAC) is restructuring its organization to enhance agility and support growth. This includes the departure of Jeff Schmaling and Fabrizio Rasetti, effective December 10, 2021, with James Denis stepping in as Acting General Counsel. CEO Paul Sternlieb emphasizes that the company aims to build a high-performance organization by simplifying and realigning its structure, aiming to improve capabilities and generate shareholder value.
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