Enerpac Tool Group's fiscal Q1-24 sales up nearly 2%
Enerpac Tool Group Corp. reported its fiscal Q1-2024 (ended November 30) net sales were $142 million, a 1.9% increase year-over-year, with organic growth of 5.5%. Gross margin expanded 360 basis points year-over-year to 52.3%.
GAAP operating margin was 20.2% and adjusted operating margin was 22.8%. Net earnings were $18 million, or $0.33 per share.
“We began fiscal 2024 with another good quarter, underscored by solid top-line growth and greatly expanded profitability,” said President & CEO Paul Sternlieb. “While we maintain a cautious tone regarding full-year results, given economic and geopolitical uncertainty, our performance demonstrates the continued benefits of Enerpac’s ASCEND transformation program, four-pillar growth strategy, and the permanent changes across the organization that are making Enerpac more efficient, more productive, and easier to do business with.”
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
