Enerpac Tool Group falls as Q3 profit, sales miss estimates

Enerpac Tool

28/06/2022 18:06

** Shares of industrial tools and services provider Enerpac
Tool Group  EPAC.N  down ~7.3% at $18.32 in afternoon trade 
    ** Stock, which hit its lowest levels since early March,
will see its worst day since December 2021, if losses hold 
    ** Co posts Q3 adjusted profit of 16 cents per share vs
estimates of 28 cents per share - Refinitiv IBES data
 urn:newsml:reuters.com:*:nASA03FNS
    ** EPAC says it is navigating a challenging macroeconomic
environment which includes ongoing supply chain and inflationary
pressures 
    ** Adds it was also affected by the conflict in Ukraine and
COVID-19 lockdown in China 
    ** Co reports Q3 sales of $152 mln, below Wall Street
expectations of $155.1 mln  urn:newsml:reuters.com:*:nASA03FNS
    ** Of the three brokerages covering the stock, one rates
"buy", one "hold" and one "sell"; their median PT is $21
    ** Shares down ~9.5% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))