earnings
confidence high
sentiment negative
materiality 0.75
Enerpac Q3 core sales +10% to $152M; GAAP EPS $0.07 on $11M reserve charge
ENERPAC TOOL GROUP CORP
2022-Q3 EPS reported
$0.09
revenue$419,395,000
- Net sales $152M, core sales up 10% YoY; FX headwind reduced reported sales by 4%.
- GAAP diluted EPS $0.07; adjusted diluted EPS $0.16; GAAP operating margin 4.4%, adjusted 9.0%.
- Recorded $11M increase in accounts receivable reserves related to a MENAC agent, impacting EPS by $0.14 and adjusted EBITDA margin by ~720 bps.
- Bought back ~1.8M shares at avg $20.65 for $36M under March 2022 repurchase program.
- Leverage 1.1x (Net Debt/Adj. EBITDA); refined full-year FY2022 guidance.