Enerpac Tool(US:EPAC)2023-03-24 17:13Financial Performance - Net sales for Q2 2023 were $142 million, compared to $137 million in Q2 2022, representing a 4% increase[28] - Core sales grew by 6% year-over-year, with IT&S product sales up 10% and other product sales up 4%, while service sales declined by 4%[33] - Adjusted EBITDA for Q2 2023 was $32 million, compared to $16 million in Q2 2022[66] - Adjusted diluted EPS for Q2 2023 was $035, a 150% increase compared to $014 in Q2 2022[32, 33] - The company is raising its fiscal year 2023 net sales guidance to a range of $580 to $600 million, with core growth projected at 3%-6%[57] - The company is raising its fiscal year 2023 adjusted EBITDA guidance to a range of $118 to $128 million, including an ASCEND EBITDA benefit of $32 to $38 million[57] ASCEND Program - The ASCEND program is expected to deliver an adjusted EBITDA benefit of $32 to $38 million in fiscal year 2023[5, 15] - The company expects to invest $70 to $75 million over the program period in ASCEND[5] - The ASCEND program is expected to achieve its run-rate as the company exits fiscal year 2024[5] Regional Performance - Europe experienced mid-teens percentage growth in IT&S regional core sales[19] - Americas experienced low double-digit percentage growth in IT&S regional core sales[19] - Asia Pacific experienced low single-digit percentage growth in IT&S regional core sales[19] - MENAC experienced low double-digit percentage decline in IT&S regional core sales[19]