Enerpac Tool Group sinks to 1-yr low after Q1 miss

Enerpac Tool

21/12/2021 18:07

** Industrial tools and services provider's shares  EPAC.N 
fall 10.4% to hit an over 1-year low of $19.59
    ** Shares set for fourth straight session of losses, on
track for worst day March 2020
    ** EPAC misses estimates for Q1 results, hurt by supply
chain disruptions, logistics costs and heightened
inflation urn:newsml:reuters.com:*:nBw5hmTh9a
    ** Co's Q1 sales rise ~10% to $130.9 mln, but misses est of
$141.2 mln, according to Refinitiv IBES
    ** Adj. EPS of 16 cents also below est. of a 21-cent profit
per share
    ** EPAC also maintains its FY 2022 forecast, adding it
expects supply and inflationary headwinds to sustain into the
back half of the year
    ** With Tuesday's losses, EPAC down ~13% this year

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))