Connect with us

Hi, what are you looking for?

Investing

Enerpac Tool Group Shares Hit 52-Week High After Earnings Report

By Colin Kellaher


Enerpac Tool Group shares rose sharply and hit a new 52-week high Tuesday after the diversified industrial company posted improved quarterly results and forecast a rise in core sales for its current fiscal year.

Shares of the Menomonee Falls, Wis., company were recently changing hands at $29.43, up 13%, after touching a 52-week high of $29.70 earlier in the session.

After Monday’s closing bell, Enerpac reported adjusted earnings of 42 cents a share for its fiscal fourth quarter ended Aug. 31, up from 35 cents a share a year earlier.

Sales rose 6% to $161 million.

Enerpac said it expects fiscal 2024 sales of $590 million to $605 million, with core sales growth of 2% to 4%, compared with sales of $598.2 million in fiscal 2023.


Write to Colin Kellaher at [email protected]


Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube