Financial Performance - Consolidated net sales for fiscal 2024 were $590 million, a 1% decrease from $598 million in fiscal 2023, impacted by a $23 million decline due to the divestiture of the Cortland Industrial business[93]. - Operating profit for fiscal 2024 was $122 million, an increase of $38 million compared to $84 million in fiscal 2023, driven by improved gross profit and reduced SG&A expenses[93]. - Gross profit as a percentage of sales was approximately 51% in fiscal 2024, up 2% from fiscal 2023, attributed to operational improvements from the ASCEND program[93]. - Service sales increased by 7% in fiscal 2024, totaling $116 million, driven by strong growth in the EMEA region[93]. - Total net sales for the year ended August 31, 2024, were $589.5 million, a decrease of 1.2% from $598.2 million in the previous year[136]. - Net earnings from continuing operations were $82.2 million for the year ended August 31, 2024, compared to $53.6 million in the prior year, representing a 53.4% increase[136]. - Earnings per share from continuing operations increased to $1.51, up from $0.95 in the previous year, marking a 58.9% rise[136]. - The company reported a total comprehensive income of $90.6 million for the year, compared to $60.3 million in the previous year[138]. Strategic Initiatives - The ASCEND transformation program aims to drive accelerated earnings growth and efficiency, focusing on organic growth strategies and operational excellence[36]. - The Company plans to pursue strategic acquisitions to enhance its global market position and broaden its product offerings, but execution may be impacted by financing availability and competition for targets[44]. - The ASCEND transformation program is expected to generate an incremental $40 to $50 million in annual operating profit once fully implemented[155]. - The Company completed the sale of the Cortland Industrial business for net cash proceeds of $20.1 million, recording a net gain of $6.0 million[164]. Risks and Challenges - Supply chain issues, including shortages and increased costs, could adversely impact the company's business and operating results[30]. - The company faces collection risks for receivables in foreign jurisdictions, which may lead to delayed payments or uncollectible balances[34]. - Disruptions in global oil markets, such as those due to geopolitical conflicts, could negatively affect the company's revenues from the oil and gas industry[31]. - The company is exposed to risks related to international operations, including unfavorable currency fluctuations and political instability[39]. - Cybersecurity threats pose risks to the company's systems and operations, necessitating significant investments in technology infrastructure[35]. - The company may not be able to maintain operational improvements from restructuring actions, which could adversely affect financial performance[36]. - Legal and regulatory proceedings, including product liability claims, could result in significant costs that adversely affect financial results[55]. Financial Position - As of August 31, 2024, goodwill and other intangible assets totaled $306 million, representing 39% of the company's total assets[49]. - The company has incurred significant indebtedness, which could harm its operating flexibility and competitive position if additional debt is taken on for acquisitions[56]. - The effective income tax rate for fiscal 2024 and 2023 was both 22.1%, slightly higher than the statutory rate of 21% due to state income taxes and foreign jurisdiction taxes[101]. - Total current assets rose to $372,258 million from $355,640 million, marking a 4.6% increase year-over-year[140]. - Total liabilities decreased to $385,349 million from $435,977 million, a reduction of approximately 11.6%[140]. - Cash and cash equivalents at the end of the period reached $167,094 million, compared to $154,415 million at the end of the previous year, a growth of 8.2%[142]. Shareholder Returns - The Company declared a dividend of $0.04 per share of Class A common stock for fiscal 2024, payable on October 18, 2024[76]. - Since the inception of the initial share repurchase program in fiscal 2012, the Company has repurchased 30,082,181 shares for $839 million[77]. - The Company repurchased 1,309,466 shares for $38.4 million in the year ended August 31, 2024, with a total of 30,082,181 shares repurchased since the inception of the program for $838.9 million[200]. Operational Metrics - The Company operates 1,512 thousand square feet of facilities, with 1,313 thousand square feet for manufacturing and distribution[71]. - The IT&S segment reported net sales of $571 million in fiscal 2024, a 3% increase from $555 million in fiscal 2023, primarily driven by service business growth[96]. - Corporate expenses decreased to $36 million in fiscal 2024, down $27 million from $63 million in fiscal 2023, primarily due to reduced ASCEND transformation program charges[100]. - Cash provided by operating activities was $81 million for fiscal 2024, an increase of $3 million from $78 million in fiscal 2023, attributed to higher earnings from continuing operations[103]. Market Conditions - A significant portion of the company's revenues is derived from cyclical industries, which may be adversely affected during economic contractions[31]. - The market price of the company's common stock may be volatile due to various factors, including quarterly revenue fluctuations and external economic conditions[60]. - The company is exposed to geopolitical risks that could adversely impact its business and financial results[64]. Environmental and Regulatory Factors - Climate-related laws and regulations may negatively impact the company's operations, particularly in the oil & gas sector, which constitutes a significant portion of its revenue[42]. - Environmental expenditures over the past three years have not been material, and management believes potential liabilities will not materially affect financial position[216].

In a release issued under the same headline yesterday by Enerpac Tool Group Corp. (NYSE: EPAC), please note that in the Outlook section, the third paragraph should have read "Forecasted adjusted EBITDA is $150 million to $160 million, with anticipated free cash flow of $85 million to $95 million." and not "Forecasted adjusted EBITDA is $150 million to $160 million, with anticipated free cash flow of $89 million to $99 million." The $85 million to $95 million free cash flow guidance is consistent with the or ...

Financial Data and Key Metrics Changes - For fiscal 2024, organic revenue grew by 2.2%, with the core Industrial Tools & Services (IT&S) business growing by 2.7% [3][4] - Adjusted EBITDA increased by 8% year-over-year, achieving a margin of 25% [6][7] - Diluted earnings per share from continued operations totaled $1.50, while adjusted EPS increased by 19% to $1.72 [6][7] - Free cash flow reached $70 million, representing an 82% conversion rate of net earnings [6][7] Business Line Data and Key Metrics Changes - Within the IT&S segment, organic product revenue grew by 1.7%, while service revenue grew by 6.6% [4] - Cortland Biomedical experienced a 9.5% decline, impacting total organic growth to 2.2% for the year [4][5] - In Q4, organic growth was 0.9%, with IT&S growth of 0.8% driven by a 9.7% increase in service revenue, offset by a 1% decline in product revenue [8] Market Data and Key Metrics Changes - Revenue in the Americas grew in the low-single-digits, while the Asia Pacific region saw a mid-single-digit decline due to softness in the mining sector [13][14] - EMEA region experienced high-single-digit revenue expansion, with expectations for further market share gains [14] Company Strategy and Development Direction - The company is focused on continuous improvement through the Powering Enerpac Performance (PEP) program, which aims to standardize and simplify processes across the organization [12] - The recent acquisition of DTA is expected to enhance product offerings and provide revenue synergies, particularly in horizontal movement technology [20][21] Management's Comments on Operating Environment and Future Outlook - Management anticipates organic revenue growth of 0% to 2% for fiscal 2025, despite a projected decline in the general industrial market [10] - The company expects to achieve further margin improvement and has targeted at least 100% free cash flow conversion by fiscal 2026 [7][10] Other Important Information - The company completed the acquisition of DTA, which is expected to enhance its heavy lifting technology capabilities [20][21] - The company has a strong balance sheet with net debt of $27 million and total liquidity of $565 million [8][9] Q&A Session Summary Question: Opportunities in DTA - Management highlighted three key opportunities with DTA: complementarity to existing HLT business, geographic expansion potential, and synergy in end markets like wind and rail [24] Question: Customer Needs for DTA Solutions - Management noted that some customers require both vertical and horizontal movement solutions, indicating a specific need for DTA's offerings [25] Question: DTA's Service Component - DTA has a growing service and recurring revenue component, which management plans to focus on for growth [26] Question: Key Target Verticals for FY'25 - Management expressed optimism about demand in wind and rail markets, while acknowledging slower infrastructure project rollouts [27] Question: Factors Slowing Infrastructure Projects - Management identified permitting and labor availability as potential factors slowing project flows, but noted that funding is available [28] Question: 2025 Guidance and Market Growth Assumptions - Management expects low single-digit market decline but aims to outperform this through strong execution and new product launches [29][30] Question: Capital Allocation Strategy - The company maintains a balanced approach to capital allocation, focusing on internal investments, acquisitions, and opportunistic share repurchases [35] Question: Industry Consolidation Trends - Management noted no significant signs of consolidation in the industry but acknowledged the fragmented nature of the market as an opportunity for growth [36]

Enerpac (EPAC) came out with quarterly earnings of $0.50 per share, missing the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -5.66%. A quarter ago, it was expected that this industrial products company would post earnings of $0.47 per share when it actually produced earnings of $0.47, delivering no surprise. Over the last four quarters, the comp ...

EXHIBIT 99.1 Enerpac Tool Group Reports Fourth Quarter and Full-Year Fiscal 2024 Results; Introduces Full-Year Fiscal 2025 Outlook Fiscal 2024 Continuing Operations Highlights Net sales were $590 million, a decline of 1.5% year-over-year, with organic growth of 2.2%. Gross margin expanded 180 basis points year-over-year to 51.1%. Operating margin was 20.6% and adjusted operating margin was 23.2%. Net earnings were $82 million and adjusted net earnings were $95 million, representing year-over-year increases ...

Fiscal 2024 Continuing Operations Highlights* Net sales were $590 million, a decline of 1.5% year-over-year, with organic growth of 2.2%.** Gross margin expanded 180 basis points year-over-year to 51.1%. Operating margin was 20.6% and adjusted operating margin was 23.2%. Net earnings were $82 million and adjusted net earnings were $95 million, representing year-over-year increases of 53% and 14%, respectively. Diluted EPS was $1.50 and adjusted diluted EPS was $1.72. Adjusted EBITDA was $147 million, an inc ...

MILWAUKEE, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE: EPAC) ("Enerpac" or "the Company") announced today that Darren M. Kozik is joining the Company as Executive Vice President and Chief Financial Officer effective October 28, 2024. He will report to Paul Sternlieb, President & CEO, and serve as a member of the Company's executive leadership team. Mr. Kozik will provide leadership over all aspects of the Company's finance and IT functions globally. Mr. Kozik joins Enerpac Tool Group f ...

MILWAUKEE, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE: EPAC) announced today that it will release its fourth quarter fiscal 2024 earnings after the market closes on Tuesday, October 15, 2024. Management will conduct a conference call to discuss the results on Wednesday, October 16, 2024, beginning at 8:30 a.m. ET / 7:30 a.m. CT. A real-time webcast of the conference call can be accessed via the Investors section of the Company's website here. For those who are unavailable to listen to ...

MILWAUKEE, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE: EPAC) ("Enerpac" or the "Company") announced today that it completed the acquisition of Madrid, Spain-based DTA The Smart Move, S.A. ("DTA"), a global leader in the industrial heavy loads transportation industry, designing and manufacturing mobile robotic solutions. The purchase price is €24 million plus potential for a three-year earn-out tied to the achievement of certain financial objectives. The purchase price will be funded w ...

MILWAUKEE, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE: EPAC) announced today that its Board of Directors has declared a cash dividend on its Class A common stock. The annual dividend of $0.04 per common share will be payable on October 18, 2024 to shareholders of record at the close of business on October 7, 2024. About Enerpac Tool Group Enerpac Tool Group Corp. is a premier industrial tools, services, technology, and solutions provider serving a broad and diverse set of customers and ...