Enerpac Tool Group

Enerpac Tool Group Reports Second Quarter Fiscal 2024 Results and Affirms Full-Year Guidance

Retrieved on:

Wednesday, March 20, 2024

Hamas, Enerpac Tool Group, Risk, Webcast, Table, Security (finance), Enerpac, GAAP, Share repurchase, ASCEND, Cryptocurrency

MILWAUKEE, March 20, 2024 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE: EPAC) (the “Company” or “Enerpac”) today announced results for its fiscal second quarter ended February 29, 2024.

Key Points:

Net debt on February 29, 2024, was $91.2 million, resulting in a net debt to adjusted EBITDA ratio of 0.7x.
The Company repurchased approximately 139,000 shares of its common stock in the second quarter of fiscal 2024 for a total of $4.0 million under its share repurchase program announced in March 2022.
“Through the first half of fiscal 2024, we achieved organic sales growth of 4% and an adjusted EBITDA margin of 24.7%, positioning Enerpac to achieve our full-year guidance and reach our targeted adjusted EBITDA margin of at least 25% in fiscal 2025.”
The Company affirms its fiscal 2024 guidance, projecting a net sales range of $590 million to $605 million.
Webcast information and conference call materials, including an earnings presentation, are available on the Enerpac Tool Group company website ( www.enerpactoolgroup.com ).

US FARATHANE ANNOUNCES APPOINTMENT OF DAVE WISKEL AS PRESIDENT AND CHIEF EXECUTIVE OFFICER

Retrieved on:

Friday, March 1, 2024

Engineering, General Motors, Alfred P. Sloan Foundation, Dick Plasman, Accuride Corporation, USF, PLC, Compuware, Ford, Atlas, Enerpac Tool Group, VW, Development, Partner, Partnership, Management

AUBURN HILLS, Mich., March 1, 2024 /PRNewswire/ -- US Farathane, a leading supplier of injection molded, compression molded and extruded products to the global automotive industry, announced the appointment of Dave Wiskel to the position of President and Chief Executive Officer. Wiskel succeeds Andy Greenlee, who has led the company for nearly three decades and grew the business from $20 million in revenue in 1996 to over one billion dollars of revenue today. Greenlee will remain actively involved in US Farathane as Chairman of the Board.

Key Points:

AUBURN HILLS, Mich., March 1, 2024 /PRNewswire/ -- US Farathane, a leading supplier of injection molded, compression molded and extruded products to the global automotive industry, announced the appointment of Dave Wiskel to the position of President and Chief Executive Officer.
Before joining US Farathane, Wiskel served as Chief Executive Officer of global automotive manufacturer Plasman for more than 18 years.
He led the company's innovative product diversification and multiple strategic acquisitions, vastly expanding its operations across the globe.
Henderson spent 26 years with General Motors in several executive management roles, including President and Chief Executive Officer, President and Chief Operating Officer, and Vice Chairman and Chief Financial Officer, and currently sits on several boards including those of Adient, PLC, Marriott International, Inc. and the Alfred P. Sloan Foundation.

Enerpac Tool Group Announces Chief Financial Officer Transition

Retrieved on:

Thursday, February 8, 2024

Enerpac Tool Group Corp. (NYSE: EPAC) (the “Company” or “Enerpac”) today announced that Anthony Colucci is stepping down as Executive Vice President and Chief Financial Officer to assume an executive role at a private equity firm.

Key Points:

Enerpac Tool Group Corp. (NYSE: EPAC) (the “Company” or “Enerpac”) today announced that Anthony Colucci is stepping down as Executive Vice President and Chief Financial Officer to assume an executive role at a private equity firm.
He will remain as CFO through March 1, 2024, to assist with the transition.
In the interim, P. Shannon Burns has been appointed as Interim Principal Financial Officer and Patrick Dawson has been appointed as Interim Principal Accounting Officer.
Prior to joining Enerpac, Mr. Burns served in financial leadership roles at Harley-Davidson, Inc., including three years as Head of Investor Relations.

Riverbend Industries Welcomes Brian Kobylinski as New President and CEO

Retrieved on:

Tuesday, January 9, 2024

Riverbend Industries, a prominent family-owned business known for acquiring and operating North American manufacturing companies in the building and industrial products sectors, proudly announces the appointment of Brian “Koby” Kobylinski as its new President and CEO.

Key Points:

Riverbend Industries, a prominent family-owned business known for acquiring and operating North American manufacturing companies in the building and industrial products sectors, proudly announces the appointment of Brian “Koby” Kobylinski as its new President and CEO.
View the full release here: https://www.businesswire.com/news/home/20240109412035/en/
Riverbend Industries Promotes Brian Kobylinski as President and CEO (Photo: Business Wire)
Brian Kobylinski brings over 30 years of global industrial sector experience to Riverbend Industries.
Prior to joining Riverbend, he served as Chairman and CEO of Jason Industries, leading the business through its operational and financial transformation.
For more information about Riverbend Industries and its new President and CEO, Brian Kobylinski, please visit https://www.riverbendindustries.com or email [email protected] .

Enerpac Tool Group Reports First Quarter Fiscal 2024 Results and Affirms Full-Year Guidance

Retrieved on:

Tuesday, December 19, 2023

Machinery, Machine Tools, Metalworking & Metallurgy, Other Manufacturing, Manufacturing, Enerpac Tool Group, Risk, Table, Hamas, Share repurchase, Webcast, GAAP, ASCEND, Security (finance), Cryptocurrency

The Company repurchased approximately one million shares of its common stock in the first quarter of fiscal 2024 for $26 million under its share repurchase program announced in March 2022.

Key Points:

The Company repurchased approximately one million shares of its common stock in the first quarter of fiscal 2024 for $26 million under its share repurchase program announced in March 2022.
“With the solid start to fiscal 2024, we are on track to achieve our full-year financial objectives,” concluded Sternlieb.
As such, the Company affirms its fiscal 2024 guidance, projecting a net sales range of $590 million to $605 million.
Webcast information and conference call materials, including an earnings presentation, are available on the Enerpac Tool Group company website ( www.enerpactoolgroup.com ).

Snap-on Announces Third Quarter 2023 Results

Retrieved on:

Thursday, October 19, 2023

Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the third quarter of 2023.

Key Points:

Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the third quarter of 2023.
Operating earnings before financial services for the quarter of $245.2 million compared to $223.5 million in 2022.
Financial services revenue in the quarter of $94.9 million compared to $87.3 million in 2022; financial services operating earnings of $69.4 million compared to $66.4 million last year.
The third quarter effective income tax rate was 22.6% in 2023 and 21.6% in 2022.

Enerpac Tool Group Reports Strong Fourth Quarter and Full-Year Results; Introduces Full-Year Fiscal 2024 Outlook

Retrieved on:

Monday, October 16, 2023

Machinery, Machine Tools, Metalworking & Metallurgy, Other Manufacturing, Manufacturing, Share repurchase, Enerpac Tool Group, Risk, EBITDA, ASCEND, Table, Growth, GAAP, Security (finance), Cryptocurrency, Risk management

The company purchased approximately 1.4 million shares of its common stock in the fourth quarter of fiscal 2023 for a total of approximately $37 million under its share repurchase program announced in March 2022.

Key Points:

The company purchased approximately 1.4 million shares of its common stock in the fourth quarter of fiscal 2023 for a total of approximately $37 million under its share repurchase program announced in March 2022.
“Our guidance for fiscal 2024 reflects a fair degree of caution, given the continued uncertainty in the macro environment," concluded Sternlieb.
Webcast information and conference call materials, including an earnings presentation, are available on the Enerpac Tool Group company website ( www.enerpactoolgroup.com ).
Enerpac Tool Group disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information, future events or any other reason.

Snap-on Announces Second Quarter 2023 Results

Retrieved on:

Thursday, July 20, 2023

Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the second quarter of 2023.

Key Points:

Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the second quarter of 2023.
As a percentage of net sales, operating earnings before financial services of 23.3% in the second quarter compared to 21.7% last year, reflecting an improvement of 160 basis points.
The second quarter effective income tax rate was 22.9% in 2023 and 23.8% in 2022.
Originations of $326.3 million in the second quarter represented an increase of $18.7 million, or 6.1%, from 2022 levels.

Prototek Names Bill Bonadio as New Chief Executive Officer

Retrieved on:

Wednesday, July 12, 2023

Prototek Holdings LLC ("Prototek"), a leading national provider of on-demand CNC machining, precision sheet metal fabrication, and additive manufacturing services, today announced that Bill Bonadio will serve as the company’s new Chief Executive Officer, effective immediately.

Key Points:

Prototek Holdings LLC ("Prototek"), a leading national provider of on-demand CNC machining, precision sheet metal fabrication, and additive manufacturing services, today announced that Bill Bonadio will serve as the company’s new Chief Executive Officer, effective immediately.
View the full release here: https://www.businesswire.com/news/home/20230712738414/en/
Prototek named Bill Bonadio as the company's new Chief Executive Officer (Photo: Business Wire)
“Bill’s wealth of experience and proven track record at the highest levels of leadership make him the perfect fit to lead our company and usher in a new phase of growth and innovation,” said Jay Twombly, Prototek’s Chairman.
“I’m honored to have the opportunity to lead Prototek,” said Bonadio.
He is also a former U.S. Navy officer and graduate of the U.S. Navy Nuclear Propulsion Program, where he served on attack submarines.

Enerpac Tool Group Announces Definitive Agreement to Sell Cortland Industrial to Tufropes

Retrieved on:

Tuesday, July 11, 2023

Machine Tools, Metalworking & Metallurgy, Engineering, Other Construction & Property, Manufacturing, Construction & Property, Other Manufacturing, Enerpac, Cortland, Growth, NYSE, Enerpac Tool Group, Sale, Cryptocurrency

Enerpac Tool Group Corp. (NYSE:EPAC) (“Enerpac” or the “Company”) announced today that it has completed a sale of its Cortland Industrial, LLC business to Tufropes, a global leader in the manufacturing of high-performance synthetic fiber ropes and netting solutions.

Key Points:

Enerpac Tool Group Corp. (NYSE:EPAC) (“Enerpac” or the “Company”) announced today that it has completed a sale of its Cortland Industrial, LLC business to Tufropes, a global leader in the manufacturing of high-performance synthetic fiber ropes and netting solutions.
Enerpac intends to use net proceeds from this sale to pay down existing debt and support further strategic investments in growth and profitability.
As a part of the purchase agreement, the Company will provide certain transition services to Tufropes for a limited period.
Paul Sternlieb, Enerpac Tool Group Corp. President and CEO, stated, “With this transaction, we are continuing to sharpen Enerpac Tool Group’s pure-play focus.