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Earnings Call Summary | Enerpac Tool(EPAC.US) Q2 2024 Earnings Conference

Futu News ·  Mar 22 01:54  · Conference Call

The following is a summary of the Enerpac Tool Group Corp. (EPAC) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • Enerpac Tool Group reported Q2 organic sales growth in Industrial Tools & Services (IT&S) segment of 3%, and a half fiscal organic revenue growth of 4%.

  • Company's net sales reported a decline of 2.5% year-on-year, due to the sale of Cortland Industrial.

  • Despite a 25% decline at Cortland Biomedical, operating efficiency and SG&A productivity gains led to a year-over-year increase in adjusted EBITDA of 6.4%.

  • EBITDA margins improved from 22.7% to 24.8% due to improvements in operating efficiency.

  • There was a $0.33 report in diluted earnings per share for Q2 2024.

  • There was a reduction in net debt from the previous quarter, total liquidity summed up to $500 million.

Business Progress:

  • Enerpac saw growth in the Americas and EMEA but minor decline in Asia-Pacific.

  • The company launched new product innovations including battery-powered portable pumps and a 100-ton hydraulic lock-grip puller for railcar maintenance.

  • The ECX program was initiated in Americas with the objective to augment commercial effectiveness and fuel growth in sales.

  • The company has announced plans for headquarters relocation to downtown Milwaukee by early 2025.

More details: Enerpac Tool IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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