Enerpac Tool Group (NYSE: EPAC) reported Q3 EPS of $0.28, $0.10 better than the analyst estimate of $0.18. Revenue for the quarter came in at $143.1 million versus the consensus estimate of $137.44 million.

Outlook:

Mr. Baker continued, “As we move into the last quarter of fiscal 2021, we anticipate strengthening business trends and remain optimistic that our global end markets will continue on the path to returning to a pre-pandemic level of activity. We previously guided expected sales to be in a range of $280 million to $290 million for the second half of fiscal 2021, with continuing sequential improvement through the end of the fiscal year and anticipated incremental Adjusted EBITDA margins at the high end of 35% to 45%, excluding the impact of currency. Given our strong third quarter results, we believe that the sales range will be $290 million to $295 million for the second half of fiscal 2021, implying fourth quarter sales of $147 million to $152 million, with incremental Adjusted EBITDA margins on the high end of the range provided.”

Mr. Baker concluded, “Looking ahead, as end markets continue to recover, Enerpac Tool Group is well positioned to grow through new product development and organic growth in key vertical markets and inorganically through strategic acquisitions. We are encouraged by the broad-based improvement in the third quarter, confident in our ability to accelerate growth and look forward to executing our strategy to generate substantial shareholder value.”

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