Why Enerpac Tool Group Stock Was Winning Big This Week
Storied machinery maker Enerpac Tool Group (NYSE: EPAC) was having quite a fine time on the stock exchange this week. Following the release of its latest set of quarterly results, investors piled in to the shares. As of very early Friday morning, according to data compiled by S&P Global Market Intelligence, the company's stock was up by 11%.
After market hours on Monday, Enerpac put a bow on its fiscal 2023 by reporting fourth-quarter and full-year results.
For the quarter, the company's net sales tallied nearly $161 million, for a 6% year-over-year improvement. Far more impressively, net profit came in at a shade over $23 million ($0.41 per share), a figure that was more than double the $10.2 million Enerpac netted in the same period of fiscal 2022.
Source Fool.com
