Enerpac Tool Group (EPAC) Misses Q4 EPS by 5c

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Enerpac Tool Group Reports Fourth Quarter 2020 Results

September 30, 2020 8:30 AM EDT

 Fourth Quarter of Fiscal 2020 Highlights*

Fourth quarter fiscal 2020 results reflect sequential improvement from the third quarter but continued to be pressured due to COVID-19. Net sales from continuing operations were $111 million for the quarter compared to $102 million from the third quarter, a 9% sequential improvement. Industrial Tools & Services (IT&S) sales increased 11% sequentially.  IT&S product core sales improved to a 20% decline in the fourth quarter compared to a 36% decline in the previous quarter. Executed on key priorities of keeping employees safe, controlling costs and maintaining a strong balance sheet.  Cost control actions... More