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May 31, 2023
Enerpac Q3 2023 Earnings Report
reported third quarter fiscal 2023 results and raised full-year earnings guidance
Key Takeaways
Enerpac Tool Group reported a solid performance in Q3 2023, driven by focused execution and core growth in most regions. Record gross profit and adjusted EBITDA margins were achieved since the launch of Enerpac Tool Group in 2019. The company is updating its full-year net sales expectations to the high end of the previously disclosed range and increasing its adjusted EBITDA range.
Net sales were $156 million, with core sales increasing 4% year-over-year.
GAAP operating margin was 16.3%, and adjusted operating margin was 21.7%.
GAAP diluted EPS was $0.30, and adjusted diluted EPS was $0.39, representing a 144% year-over-year increase.
Leverage (Net Debt to Adjusted EBITDA) was 1.0x at May 31, 2023.
Revenue by Segment
Forward Guidance
Enerpac Tool Group is updating its expectations for full-year net sales to the high end of the previously disclosed range at $590-600 million and is increasing its expected adjusted EBITDA range to $123 to $130 million.
Positive Outlook
- Solid year-to-date performance
- Success of the ASCEND transformation program
- Full-year net sales expected at the high end of the previously disclosed range ($590-600 million)
- Expected adjusted EBITDA range increased to $123 to $130 million
- Guidance is based on current foreign exchange rates
Challenges Ahead
- Guidance assumes that there is not a broad-based recession
- General economic uncertainty
- Market conditions in various industries
- Impact of geopolitical activity, including the invasion of Ukraine by Russia
Historical Earnings Impact
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Avg. Return Before/After Earnings
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