ENERPAC TOOL GROUP CORP
For the period ended May 31, 2024. Filed Jun 25, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
May 31, 2024 · Filed Jun 25, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
———————————
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended May 31, 2024
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
Commission File No.1-11288
(Exact name of registrant as specified in its charter)
| Wisconsin | 39-0168610 |
|---|---|
| (State of incorporation) | (I.R.S. Employer Id. No.) |
N86 W12500 WESTBROOK CROSSING
MENOMONEE FALLS, WISCONSIN 53051
Mailing address: P. O. Box 3241, Milwaukee, Wisconsin 53201
(Address of principal executive offices)
(262)293-1500
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Ticker Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Class A common stock, $0.20 par value per share | EPAC | NYSE |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
| Large Accelerated Filer | ☒ | Accelerated Filer | ☐ |
|---|---|---|---|
| Non-accelerated Filer | ☐ | Smaller reporting company | ☐ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.): Yes¨ No☒
The number of shares outstanding of the registrant’s Class A Common Stockas of June 20, 2024 was 54,300,146.
Table of Contents
TABLE OF CONTENTS
| Page No. | |
|---|---|
| Forward-Looking Statements and Cautionary Factors | 1 |
| Part I—Financial Information | |
| Item 1—Condensed Consolidated Financial Statements (Unaudited) | |
| Condensed Consolidated Statements of Earnings | 3 |
| Condensed Consolidated Statements of Comprehensive Income | 4 |
| Condensed Consolidated Balance Sheets | 5 |
| Condensed Consolidated Statements of Cash Flows | 6 |
| Notes to the Condensed Consolidated Financial Statements | 7 |
| Item 2—Management’s Discussion and Analysis of Financial Condition and Results of Operations | 19 |
| Item 3—Quantitative and Qualitative Disclosures about Market Risk | 23 |
| Item 4—Controls and Procedures | 24 |
| Part II—Other Information | |
| Item 2—Unregistered Sales of Equity Securities and Use of Proceeds | 25 |
| Item 5—Other Information | 25 |
| Item 6—Exhibits | 26 |
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