Enerpac Tool Group Corp. (NYSE:EPAC) Q4 2024 Earnings Conference Call October 16, 2024 8:30 AM ET

Company Participants

Travis Williams - Director of Investor Relations
Paul Sternlieb - President and Chief Executive Officer
Shannon Burns - Interim Principal Financial Officer

Conference Call Participants

Thomas Hayes - CL King
Ross Sparenblek - William Blair
Steve Silver - Argus Research

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Enerpac Tool Group's Fourth Quarter Fiscal 2024 Earnings Conference Call. As a reminder, this conference is being recorded October 16, 2024.

It is now my pleasure to turn the conference over to Travis Williams, Senior Director of Investor Relations. Please go ahead, Mr. Williams.

Travis Williams

Thank you, operator. Good morning and thank you for joining us for Enerpac Tool Group's year end fiscal 2024 earnings call.

On the call today to present the company's results are Paul Sternlieb, President and Chief Executive Officer; and Shannon Burns, our Interim Principal Financial Officer. The slides referenced on today's call are available on the Investor Relations section of the company's website, which you can download and follow along. A recording of today's call will also be made available on our website.

Today's call will reference non-GAAP measures. You can find a reconciliation of GAAP to non-GAAP measures in the press release issued yesterday. Our comments will also include forward-looking statements that are subject to business risks that could cause actual results to be materially different. Those risks include matters noted in our latest SEC filings.

Now, I will turn it over to Paul.

Paul Sternlieb

Thanks, Travis, and good morning. For the full year, Enerpac's financial performance came in essentially as expected. Although our top line growth decelerated over the course of the year, we believe we continue to outpace the very soft general industrial marketplace as evidenced by continued positive revenue growth.

As you can see in Slide 3 and Shannon will elaborate on, organic revenue grew 2.2% in fiscal 2024, including 2.7% growth in our core Industrial Tools & Services or IT&S business. Moreover, because of our continued ability to capture efficiencies at the gross profit and SG&A lines, we enjoyed further expansion in profitability, achieving adjusted EBITDA growth of 8% representing a margin of 25%.

Let me turn the call over to Shannon to elaborate on our financial performance. He will also introduce our initial guidance for fiscal 2025. Following that, I'll speak about geographic trends, provide some color on targeted vertical markets and of course talk about our recent acquisition of DTA. Shannon?