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Stock impact report

Enerpac Tool Group Reports Fourth Quarter 2020 Results

Enerpac Tool Group Corp. (EPAC) 
Last enerpac tool group corp. earnings: 3/19 08:30 am Check Earnings Report
Company Research Source: Business Wire
 Fourth Quarter of Fiscal 2020 Highlights*Fourth quarter fiscal 2020 results reflect sequential improvement from the third quarter but continued to be pressured due to COVID-19.Net sales from continuing operations were $111 million for the quarter compared to $102 million from the third quarter, a 9% sequential improvement. Industrial Tools & Services (IT&S) sales increased 11% sequentially.  IT&S product core sales improved to a 20% decline in the fourth quarter compared to a 36% decline in the previous quarter.Executed on key priorities of keeping employees safe, controlling costs and maintaining a strong balance sheet.  Cost control actions resulted in solid decremental margins of 28%.  By managing cash, reducing working capital and paying down debt, leverage remained well within the Company’s preferred range.Consolidated core sales decreased 27% year-over-year, with product sales declining 23% and service sales declining 45%.  The net year-over-year impact on net sales from acquis Show less Read more
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