Commenting on the announcement, Mr. Sternlieb noted, "I am very pleased to welcome Eric to Enerpac and our executive leadership team. He has an accomplished track record of strategic operations leadership, brings deep industrial manufacturing experience, and has a proven ability to develop and lead high performing teams." Contact: Travis Williams Director of Investor Relations travis.williams@enerpac.com +1.262.293.1912 Mr. Chack joins Enerpac from Mohawk Industries, where he was the SVP Supply Chain. Prior ...

Core Viewpoint - Enerpac Tool Group Corp. has announced the appointment of Eric Chack as Executive Vice President of Operations, effective July 22, 2024, to enhance its global operations management [1][3]. Company Overview - Enerpac Tool Group Corp. is a leading provider of industrial tools, services, technology, and solutions, serving diverse customers in over 100 countries [4]. - The company specializes in high-pressure hydraulic tools, controlled force products, and solutions for precise positioning of heavy loads, enabling safe and efficient execution of complex tasks [4]. - Founded in 1910, Enerpac is headquartered in Menomonee Falls, Wisconsin, and its common stock trades on the NYSE under the symbol EPAC [4]. Leadership Appointment - Eric Chack will oversee all aspects of Enerpac's global operations, including manufacturing, procurement, logistics, continuous improvement, quality, and reliability [1]. - Chack has a strong background in operations, having previously served as Senior Vice President of Supply Chain at Mohawk Industries and held leadership roles at Briggs & Stratton, SPX Corporation, and IDEX Corporation [2]. - His military experience as an Infantry Officer in the US Marine Corps adds to his leadership credentials [2]. Executive Commentary - Paul Sternlieb, President & CEO of Enerpac, expressed enthusiasm about Chack's appointment, highlighting his strategic operations leadership and industrial manufacturing experience [3]. - Chack expressed excitement about joining Enerpac and aims to drive competitive advantage through operational excellence and supply chain efficiency [3].

The Company is exposed to market risk for changes in foreign currency exchange rates due to the global nature of its operations. In order to manage this risk, the Company utilizes foreign currency exchange contracts to reduce the exchange rate risk associated with recognized non-functional currency balances. The effects of changes in exchange rates are reflected concurrently in earnings for both the fair value of the foreign currency exchange contracts and the related non-functional currency asset or liabil ...

Enerpac (EPAC) came out with quarterly earnings of $0.47 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items. Enerpac, which belongs to the Zacks Manufacturing - Tools & Related Products industry, posted revenues of $150.39 million for the quarter ended May 2024, missing the Zacks Consensus Estimate by 1.84%. This compares to year-ago revenues of $156.25 million. The company has topped consensus rev ...

EXHIBIT 99.1 Enerpac Tool Group Reports Third Quarter Fiscal 2024 Results Third Quarter of Fiscal 2024 Continuing Operations Highlights MILWAUKEE, June 24, 2024 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE: EPAC) (the "Company" or "Enerpac") today announced results for its fiscal third quarter ended May 31, 2024. "We were pleased with our continued progress in the quarter, particularly on capturing further margin expansion as we focus on driving enhanced operational efficiency and SG&A productivity," ...

Core Insights - Enerpac Tool Group Corp. reported net sales of $150 million for the third quarter of fiscal 2024, reflecting a 4% decline year-over-year, primarily due to the divestiture of Cortland Industrial [1][6] - Organic sales increased by 1.2% year-over-year, with service revenue growth of 7.3% and flat product sales [6][8] - The company achieved a gross margin of 51.8%, an increase of 200 basis points year-over-year, driven by pricing actions and a favorable sales mix [7][9] - Operating profit rose by 31% year-over-year to $33.4 million, with an operating margin of 22.2% [8][9] - Adjusted EBITDA was $39.7 million, up 6% year-over-year, with an adjusted EBITDA margin of 26.4%, expanding by 240 basis points [9][10] - The company narrowed its full-year organic revenue growth guidance to 2% to 3% and raised the midpoint of adjusted EBITDA guidance [17] Financial Performance - Net earnings for the third quarter were $22.6 million, or $0.41 per share, compared to $17.0 million, or $0.30 per share, in the prior year [8][9] - Adjusted net earnings were $26 million, or $0.47 per share, compared to $0.39 per share in the previous year [1][8] - Selling, general, and administrative expenses decreased by $7.4 million year-over-year to $43.7 million, reflecting lower transformation program expenses [7][14] Segment Performance - The Industrial Tools & Services (IT&S) segment reported net sales of $145.9 million, a 1.3% increase year-over-year, with organic growth of 1.8% [13][30] - The IT&S segment's operating profit margin improved by 300 basis points to 28.1% [13][30] Cash Flow and Balance Sheet - Net cash provided by operating activities was $30.3 million for the third quarter, up from $17.3 million in the prior year [10][29] - The company reported a cash balance of $132.4 million and a debt balance of $195.7 million as of May 31, 2024 [12][29] - The net debt to adjusted EBITDA ratio improved to 0.5x, down from 1.0x year-over-year [12][16] Outlook - The company projects net sales for fiscal 2024 to be in the range of $585 million to $590 million, considering a $5 million headwind from foreign exchange rates [17] - Free cash flow guidance remains unchanged at $60 million to $70 million [17]

Third Quarter of Fiscal 2024 Continuing Operations Highlights* Third Quarter Fiscal 2024 Consolidated Results Comparisons Operating profit increased 31% year-over-year to $33.4 million, with an operating profit margin of 22.2%, up from 16.3% in the third quarter of fiscal 2023. Adjusted operating profit increased 9% to $37.0 million, with an adjusted operating margin of 24.6%, a 290 basis point expansion over the prior-year period. Net cash provided by operating activities was $30.3 million for the third qu ...

Company Updates - Iteris, Inc. filed for a $150 million mixed securities shelf offering, resulting in a 1.2% decline in shares to $4.0201 during after-hours trading [2] - Stoke Therapeutics, Inc. announced that COO Huw Nash will step down but remain as Chief Business Officer, leading to a 3.6% drop in shares to $14.23 on Friday [2] - Enerpac Tool Group Corp. is expected to report quarterly earnings of 47 cents per share on revenue of $153.20 million, with shares gaining 1.9% to $39.22 in after-hours trading [4] - Singular Genomics Systems, Inc. executed a 1-for-30 reverse stock split, causing shares to fall 9.3% to $0.3180 in after-hours trading [4] - Beyond Air, Inc. is anticipated to report a quarterly loss of $0.48 per share on revenue of $747.20 thousand, with shares increasing by 8.1% to $1.34 in after-hours trading [4] Market Trends - U.S. stock futures are trading slightly higher, indicating potential positive market sentiment [3]

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 the live broadcast, a replay will be available shortly after the call for 90 days. MILWAUKEE, June 04, 2024 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE: EPAC) announced today that it will release its third quarter fiscal 2024 earnings after the market closes on Monday, June 24, 2024. Management will conduct a conference call to discuss the resu ...

Strength in end markets, along with improvement in the supply chain, is expected to foster the industry's growth. Stanley Black & Decker, Inc. (SWK) , Lincoln Electric Holdings, Inc. (LECO) and Enerpac Tool Group Corp. (EPAC) are a few industry participants that can capitalize on these opportunities. About the Industry The Zacks Manufacturing-Tools & Related Products industry comprises companies that develop and distribute hand and mechanics tools, hydraulic tools, engineered fastening systems and heavy-lif ...