Financial Data and Key Metrics Changes - Enerpac's first quarter revenue for Fiscal 2026 was $144 million, a decrease of 1% year-over-year [5] - Adjusted EBITDA was $32.4 million, representing a margin of 22.4%, while adjusted earnings per share was $0.36 compared to $0.40 in the previous year [8][10] - Gross profit margin was 50.7%, consistent with previous quarters, but impacted by higher tariff-driven costs [7] Business Line Data and Key Metrics Changes - In the Industrial Tools and Services (IT&S) segment, product sales grew 4% organically, while IT&S sales declined 3% [3][5] - Standard products saw low single-digit growth, and heavy-lifting technology business experienced double-digit growth year-over-year [5] - Service revenue declined by 26%, primarily in the EMEA region, particularly the U.K. [5][6] Market Data and Key Metrics Changes - Revenue in the Americas grew by 5%, driven by an 8% increase in product revenue [6] - EMEA region revenue declined by 10%, with product revenue growing by 5% but service revenue declining significantly [6] - APAC revenue decreased by 8%, affected by a decline in heavy-lifting technology business and political uncertainties in Southeast Asia [7] Company Strategy and Development Direction - The company is focused on investing in innovation and expanding sales capabilities in markets like India, Australia, and the Philippines [12][14] - Enerpac aims to capitalize on growth opportunities in power generation and infrastructure, with significant contract wins in bridge and tunnel projects [15] - The company is also enhancing its e-commerce capabilities to improve user experience and marketing tools [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook for the year, citing strong order growth across all geographic regions [11] - The company is maintaining its full-year fiscal 2026 guidance, expecting organic revenue growth of 1%-4% and adjusted EBITDA growth of 6% at the midpoint [10] - Management acknowledged challenges in the service business but remains optimistic about future growth and margin expansion [22] Other Important Information - The company reported a net debt of $49 million, resulting in a net debt-to-Adjusted EBITDA ratio of 0.3, indicating a strong balance sheet [9] - Total liquidity was $539 million, and free cash flow increased to $13 million, up $10 million year-over-year [9] Q&A Session Summary Question: What caused the sharp decline in service revenue this quarter? - Management noted that the decline was largely driven by a contraction in the U.K. market, with ongoing initiatives to capture higher-margin service business [21][22] Question: Can you elaborate on changes being made in services to capture higher value business? - Management discussed transitioning from an agent-based model to a direct model to enhance customer relationships and margins [25][26] Question: What is the pricing strategy heading into calendar year 2026? - A small, low single-digit price increase was implemented in early December, with ongoing efforts to maintain margins [27] Question: Can you provide insights on the 2026 organic guidance and new product contributions? - Management highlighted an ambitious innovation program with plans to launch more new products than in the previous fiscal year [33][34] Question: How is the backlog compared to a normalized basis? - Management indicated that the backlog has increased due to strong order activity, providing confidence in the outlook for the year [43]

Core Viewpoint - SF Holding (002352)(06936) reported a total revenue of RMB 24.787 billion for its express logistics, supply chain, and international business in August 2025, representing a year-on-year growth of 7.86% [1] Group 1: Express Logistics Business - Revenue from express logistics business increased by 14.14% year-on-year, with business volume growing by 34.80%, driven by the company's continuous enhancement of standard products and comprehensive logistics service capabilities [1] - The company has focused on deepening its presence in various logistics scenarios, including manufacturing and consumer goods, effectively meeting diverse customer logistics needs [1] Group 2: International Business - The international freight forwarding business revenue was impacted by fluctuations in international trade and a slowdown in freight market demand, leading to a significant decline in sea freight prices compared to the same period last year [1] - Despite these challenges, the company leveraged its global network advantages and diverse product matrix to adapt to market changes and actively explore new demands, maintaining stable overall cargo volume in international freight forwarding [1] - Revenue from international express and cross-border e-commerce logistics business achieved rapid growth year-on-year [1]