Enerpac Tool Group (EPAC) Misses Q3 EPS by 12c
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Enerpac Tool Group Reports Third Quarter Fiscal 2022 Results
June 28, 2022 8:30 AM EDTThird Quarter of Fiscal 2022 Continuing Operations Highlights*
Net sales were $152 million, representing a 10% year-over-year increase in core sales driven by continued strong and broad-based demand in most regions; the strengthening of the US dollar reduced sales by 4% GAAP operating margin was 4.4% and adjusted operating margin was 9.0% Adjusted EBITDA margin was 12.0% GAAP diluted earnings per share (EPS) was $0.07 and adjusted diluted EPS was $0.16 Results reflect an $11 million increase in accounts receivable reserves related to an agent in the Middle East/North Africa/Caspian (MENAC) region ($0.14 per share, after tax), which had an... More