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 ...

Financial Data and Key Metrics Changes - The company experienced a 3.8% year-over-year decline in total net sales due to the sale of Cortland Industrial, while organic sales increased by 1.2% year-over-year [5][8] - Adjusted EBITDA increased by 5.9% year-over-year, with adjusted EBITDA margins improving by 240 basis points from 24% to 26.4% [106] - Free cash flow for the year-to-date reached $32 million, a 66% increase compared to the previous year [7] Business Line Data and Key Metrics Changes - Service revenue grew by 7% year-over-year, while the Industrial Tool and Services (IT&S) business saw a 1.8% year-over-year gain [5][17] - Cortland Biomedical experienced a 14% year-over-year decline, impacting overall performance [5] - Adjusted EPS increased by 21% to $0.47, benefiting from a lower effective tax rate and a reduced share count [19] Market Data and Key Metrics Changes - Revenue in the Americas declined in the low-single digits, while the EMEA region saw low-double-digit growth driven by strong performance across end markets [10][110] - The Asia-Pacific region experienced a low-double-digit revenue decline, attributed to softness in the mining sector and heavy lifting technology product sales [23][110] Company Strategy and Development Direction - The company is focusing on enhancing operational efficiency and SG&A productivity, with ongoing initiatives to drive margin expansion [15][105] - The strategic focus includes targeting four key vertical markets: rail, infrastructure, wind, and industrial MRO [42] - The company is investing in new channel partners and expanding commercial support to drive growth in large infrastructure projects [11][22] Management's Comments on Operating Environment and Future Outlook - Management anticipates low-single-digit revenue growth for the full year in the Americas, citing a challenging industrial environment and cautious distributor sentiment [10] - Despite the softness in the industrial marketplace, the company believes it has outperformed broader market conditions in Q3 [74] - The company remains optimistic about capturing growth opportunities in the Asia-Pacific region and sustaining performance in the EMEA region [110] Other Important Information - The company has narrowed its full-year adjusted EBITDA guidance to $147 million to $150 million, reflecting a margin of 25.1% to 25.4% [8] - E-commerce revenue in the Americas increased by 35% year-to-date, indicating strong growth in this channel [31] Q&A Session Summary Question: Can you discuss the price versus volume during the quarter and expectations for the outlook? - Management noted a favorable mix in the quarter, with both price and mix contributing to performance, while volume comparisons are challenging due to the variety of SKUs [34][50] Question: How did overall business conditions change as the quarter progressed? - Management indicated that the quarter finished strong and conditions were generally in line with expectations, despite some month-to-month variability [55] Question: Can you provide granularity on the drivers of gross margin improvement? - The improvement was driven by operational efficiencies, pricing actions, and a favorable sales mix, with expectations to sustain and further improve margins [58][60] Question: What are the prospects for achieving the projected organic revenue CAGR growth through fiscal '26? - Management remains confident in achieving the growth objective, despite current softness in the industrial marketplace [89]

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," ...

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 ...

Net sales were $150 million, a 4% decline year-over-year, due to the disposition of Cortland Industrial Organic sales increased 1.2% year-over-year** Gross margin expanded 200 basis points year-over-year to 51.8% Operating margin was 22.2% and adjusted operating margin was 24.6% Net earnings were $23 million, or $0.41 per share, and adjusted net earnings were $26 million, or $0.47 per share Adjusted EBITDA was $40 million, an increase of 6% year-over-year Adjusted EBITDA margin was 26.4%, an expansion of 24 ...

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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 ...