Enerpac Tool Group Corp. Files 2024 Annual Report

Ticker: EPAC · Form: 10-K · Filed: Oct 21, 2024 · CIK: 6955

Sentiment: neutral

Topics: annual-report, sec-filing, financials

Related Tickers: EPAC

TL;DR

EPAC filed its 2024 10-K, all good on reporting requirements.

AI Summary

Enerpac Tool Group Corp. filed its annual report for the fiscal year ended August 31, 2024. The company is incorporated in Wisconsin and its Class A common stock is traded on the NYSE under the ticker EPAC. The filing indicates that Enerpac has met all reporting requirements for the preceding 12 months and has been subject to these requirements for the past 90 days.

Why It Matters

This 10-K filing provides a comprehensive overview of Enerpac's financial performance and operational status for the fiscal year 2024, crucial for investors assessing the company's health and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not contain immediate red flags or significant new risks.

Key Players & Entities

FAQ

What is the primary purpose of this Form 10-K filing?

This Form 10-K is an annual report filed by Enerpac Tool Group Corp. pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, for the fiscal year ended August 31, 2024.

What class of securities is registered and where is it traded?

Enerpac Tool Group Corp.'s Class A common stock, $0.20 par value per share, is registered pursuant to Section 12(b) of the Act and traded on the NYSE under the ticker symbol EPAC.

Has Enerpac Tool Group Corp. met its filing obligations?

Yes, the filing indicates that Enerpac has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months and has been subject to such filing requirements for the past 90 days.

Does Enerpac Tool Group Corp. submit Interactive Data Files electronically?

Yes, the filing indicates that Enerpac has submitted electronically every Interactive Data File required pursuant to Rule 405 of Regulation S-T during the preceding 12 months.

What is the company's state of incorporation and principal executive office address?

Enerpac Tool Group Corp. is incorporated in Wisconsin, and its principal executive offices are located at N86 W12500 Westbrook Crossing, Menomonee Falls, Wisconsin 53051.

Filing Stats: 4,436 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2024-10-21 15:01:50

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 6

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 14

Cybersecurity

Item 1C. Cybersecurity 14

Properties

Item 2. Properties 15

Legal Proceedings

Item 3. Legal Proceedings 15

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 16 PART II

Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 17

[ Reserved ]

Item 6. [ Reserved ] 19

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 28

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 29

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 61

Controls and Procedures

Item 9A. Controls and Procedures 61

Other Information

Item 9B. Other Information 61

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 61 PART III

Directors; Executive Officers and Corporate Governance

Item 10. Directors; Executive Officers and Corporate Governance 62

Executive Compensation

Item 11. Executive Compensation 62

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 62

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 62

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 62 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 63

Form 10-K Summary

Item 16. Form 10-K Summary 67 Enerpac Tool Group Corp. provides free-of-charge access to our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and all amendments thereto, through our investor website, ir.enerpactoolgroup.com, as soon as reasonably practical after such reports are electronically filed with the Securities and Exchange Commission.

FORWARD LOOKING STATEMENTS AND CAUTIONARY FACTORS

FORWARD LOOKING STATEMENTS AND CAUTIONARY FACTORS This annual report on Form 10-K contains certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. The terms "may," "should," "could," "anticipate," "believe," "estimate," "expect," "objective," "plan," "project" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to inherent risks and uncertainties that may cause actual results or events to differ materially from those contemplated by such forward-looking statements. In addition to the assumptions and other factors referred to specifically in connection with such statements, factors that may cause actual results or events to differ materially from those contemplated by such forward-looking statements include, without limitation, general economic uncertainty, market conditions in the industrial, oil & gas, energy, power generation, infrastructure, commercial construction, truck and automotive industries, supply chain risks, including disruptions in deliveries from suppliers due to political tensions or the imposition, or threat of imposition, of tariffs, which could be affected by the outcome of the upcoming U.S. presidential election, the impact of geopolitical activity, including the invasion of Ukraine by Russia and international sanctions imposed in response thereto, as well as armed conflicts involving the Middle East, including the impact on shipping in the Red Sea, the ability of the Company to achieve its plans or objectives related to its growth strategy, market acceptance of existing and new products, market acceptance of price increases, successful integration of acquisitions, the impact of dispositions and restructurings, the ability of the Company to continue to achieve its objectives related to the ASCEND program, including any assumptions underlying its calculation of

Business

Item 1. Business General Enerpac Tool Group Corp. is a premier industrial tools, services, technology, and solutions provider serving a broad and diverse set of customers and end markets for mission-critical applications in more than 100 countries. Enerpac Tool Group's businesses are global leaders in providing high pressure hydraulic tools, controlled force products and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. During fiscal 2025, the Company is scheduled to relocate our headquarters to Milwaukee, Wisconsin. The Company has one reportable segment, the Industrial Tools & Services ("IT&S") Segment. The IT&S segment is primarily engaged in the design, manufacture and distribution of branded hydraulic and mechanical tools and in providing services and tool rental to the refinery/petrochemical; general industrial; industrial maintenance, repair and operations ("MRO"); machining & manufacturing; power generation; infrastructure; mining; and other markets. Financial information related to the Company's reportable segment is included in Note 15, "Business Segment, Geographic and Customer Information" in the notes to the consolidated financial statements. The Company has an Other operating segment, which does not meet the criteria to be considered a reportable segment. Our businesses provide an array of products and services across multiple markets and geographies, which results in significant diversification. The IT&S segment and the Company are well-positioned to drive shareholder value through a sustainable business strategy built on well-established brands, broad global distribution and end markets, clear focus on the core tools and services business, and disciplined capital deployment. During the fourth quarter of fiscal 2019, we entered into a Securities Purchase Agreement ("SP

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing