Enerpac Tool Group (EPAC) Misses Q2 EPS by 6c, Revenues Miss
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Enerpac Tool Group Reports Second Quarter Fiscal 2021 Results and Provides Outlook for Remainder of Fiscal Year
March 24, 2021 8:30 AM EDTSecond Quarter of Fiscal 2021 Highlights*
Achieved continued sequential improvement over the first quarter, breaking the normal second quarter seasonal trends. Given continued improvement in market conditions, providing second half of fiscal 2021 revenue expectations of $280 million to $290 million. Anticipate incremental adjusted EBITDA margins on the high end of 35%-45%, excluding the impact of currency. Net sales from continuing operations were $121 million for the second fiscal quarter ended February 28, 2021 compared to $119 million in the first quarter of fiscal 2021, a 1% sequential improvement. Industrial Tools & Services (IT&S) product core sales improved to a 10% year-over-year decline in... More