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Nov 30, 2023
Enerpac Q1 2024 Earnings Report
Enerpac Tool Group reported a solid start to fiscal year 2024 with top-line growth and expanded profitability.
Key Takeaways
Enerpac Tool Group reported a 1.9% increase in net sales to $142 million, with organic growth of 5.5%. The company's gross margin expanded by 360 basis points to 52.3%, and net earnings were $18 million, or $0.33 per share. Adjusted EBITDA increased by 31% to $35 million.
Net sales increased by 1.9% year-over-year to $142 million, 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.
Revenue by Segment
Forward Guidance
The Company affirms its fiscal 2024 guidance, projecting a net sales range of $590 million to $605 million, with expected adjusted EBITDA in the range of $142 million to $152 million, and free cash flow between $60 million to $70 million.
Positive Outlook
- Net sales range of $590 million to $605 million is projected.
- Organic growth of approximately 2% to 4% is anticipated.
- Adjusted EBITDA is expected in the range of $142 million to $152 million.
- Free cash flow is projected between $60 million to $70 million.
- The company is on track to achieve its full-year financial objectives.
Challenges Ahead
- Forecast is based on key foreign exchange rate assumptions.
- Guidance assumes the absence of a broad-based global recession.
- General economic uncertainty.
- Potential impacts from geopolitical activity.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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