Why Enerpac Tool Group Shares Are Trading Higher Today
Portfolio Pulse from Lekha Gupta
Enerpac Tool Group Corp's shares are trading higher by around 12% after the company reported Q4 FY23 results and issued FY24 guidance. The company reported a 6% Y/Y increase in revenue from continuing operations, a 31% Y/Y rise in adjusted EBITDA, and an EPS of $0.42, higher than the previous year's $0.35. The company also repurchased about 1.4 million shares of its common stock in Q4 FY23. For FY24, EPAC expects net sales of $590 million-$605 million, adjusted EBITDA within $142 million-$152 million, and FCF of $60 million-$70 million.
October 17, 2023 | 4:44 pm
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Enerpac Tool Group's shares are trading higher following positive Q4 FY23 results and FY24 guidance. The company also repurchased about 1.4 million shares of its common stock in Q4 FY23.
Enerpac Tool Group reported strong Q4 FY23 results and issued positive FY24 guidance, which has led to a rise in its share price. The company's decision to repurchase shares also indicates its confidence in its stock, which could further boost investor sentiment.
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