Enerpac Tool falls as Q4 results disappoint, CEO to retire

Enerpac Tool

29/09/2021 17:11

** Shares of industrial tools and services provider  EPAC.N 
down as much as 6.7% at $21.58 
    ** Co's Q4 sales of $145.4 mln missed Refinitiv estimates of
$150.5 mln, hurt by continued supply chain challenges, logistics
constraints and COVID-related lockdowns  urn:newsml:reuters.com:*:nBw2FFPySa
    ** Also posts smaller-than expected Q4 earnings
    ** Supply chain constraints, increased commodity costs,
logistical shortages, as well as continued slow recovery in
certain regions, are expected to create headwinds into fiscal
2022-EPAC
    ** Co's CEO Randy Baker to retire and will be replaced by 
Paul Sternlieb, effective Oct. 8
    ** Stock down ~4% YTD, as of last close

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))