Enerpac Tool Group gains on upbeat Q2 results

Enerpac Tool

23/03/2022 16:10

** Industrial tools and services provider's shares  EPAC.N 
rise 3.9% to $20.92
    ** EPAC's Q2 net sales of $137 mln beats Refinitiv IBES
estimates of $128.2 mln; quarterly adjusted profit also
surpasses estimates  urn:newsml:reuters.com:*:nBwbfx32ca
    ** Expects 2022 sales of $560 mln to $580 mln, down from
$590 mln to $610 mln forecast previously
    ** Company says it revised guidance due to factors including
continued inflationary pressures and supply chain difficulties
resulting from the Russia-Ukraine conflict
    ** "We continue to see improvements in demand across several
of our end markets but remain cautious as we head into the back
half of our fiscal year," says Enerpac CEO
    ** Stock has risen 3.2% YTD, including session's moves

 (Reporting by Amruta Khandekar in Bengaluru)
 ((Amruta.Khandekar@thomsonreuters.com;))