Enerpac Tool Group's 4Q sales up 4.4 percent
Enerpac Tool Group reported that its net sales for the fourth quarter of fiscal 2022 were $151.8 million, a 4.4 percent increase compared to $145.4 million in last year's fourth quarter.
Core sales improved 10 percent year over year, with product sales up 12 percent and service revenues up 3 percent.
Net income of $11.4 million, or 20 cents per diluted share, compared to net income $11.4 million, or 11 cents, in the fourth quarter of fiscal 2021.
For the full year, sales of $571.2 million increased 8.0 percent from $528.7 million in fiscal 2021.
Fiscal 2022’s net income of $20.7 million, or 35 cents per diluted share, compared to net income of $40.2 million, or 67 cents, in the comparable prior year period.
“We exited fiscal 2022 with increased demand in both our product and service businesses, as well as solid core sales growth in two of our four regions,” said Paul Sternlieb, Enerpac Tool Group’s president and CEO. “We are pleased with our team’s performance in the quarter and the momentum that we are building, despite the continued difficult macroeconomic environment and ongoing supply chain challenges.”
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