Enerpac Tool Group (EPAC) Reports In-Line Q1 EPS

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Enerpac Tool Group Reports First Quarter Fiscal 2021 Results

December 21, 2020 8:30 AM EST

First Quarter of Fiscal 2021 Highlights*

First quarter fiscal 2021 results reflect sequential improvement from the fourth quarter of fiscal 2020 despite the continued impact of COVID-19. Net sales from continuing operations were $119 million for the quarter compared to $111 million from the fourth quarter of fiscal 2020, a 7% sequential improvement. Industrial Tools & Services (IT&S) segment sales increased 9% sequentially. IT&S product core sales improved to a 14% year-over-year decline in the first quarter from a 20% year-over-year decline in the previous quarter. Net income from continuing operations was $4.8 million for the current quarter compared to $0.2 million from the... More