Enerpac Sales Dip 18.6% in Fiscal First Quarter

Profit dips 25% in the period, but Enerpac continues to see improvement from its customers’ operations amid the pandemic.
Enerpac Tool Group Corp.

Enerpac Tool Group Corp. (NYSE: EPAC), Milwaukee, Wisconsin, on Monday announced revenue for its fiscal first quarter ended November 30 of $119.4 million, an 18.6% decline from the same quarter a year ago. Profit of $4.8 million marked a 25% decrease.

“Looking ahead, we are seeing improved confidence in some of our end markets as well as in our customers’ ability to navigate the challenges of the pandemic,” said Randy Baker, Enerpac Tool Group’s president and CEO. “While we are not out of the woods, we are pleased with our progress, especially in our European region where we returned to pre-COVID levels in the quarter.”

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