Posted December 21, 2021

Enerpac Tool Group sales climb 9.6 percent

Enerpac Tool Group Corp. reported sales of $130.9 million for the first quarter of fiscal 2022, a 9.6 percent gain from $119.4 million in the same period last year.

Core sales improved 9 percent year over year, with product sales up 14 percent and service revenues down 3 percent.

Net earnings of $2.8 million, or 5 cents per diluted share, compared to earnings of $4.6 million, or 8 cents, in last year's first quarter.

“While we anticipate the macroeconomic headwinds to sustain into the back half of fiscal 2022, our focus remains on growing the business, improving margins and delivering value to all of our stakeholders. We are reviewing all aspects of our business and are looking for opportunities to drive growth and become an even more efficient organization," said Paul Sternlieb, Enerpac Tool Group’s president and CEO.