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- Enerpac Tool Group (NYSE:EPAC) fell 12% in extended trading Monday after the maker of hydraulic tools said quarterly sales fell with softening demand.
- Revenue fell 3.8% from a year earlier to $150.4 million, missing the consensus estimate of about $153 million for the company’s fiscal third quarter through May 31.
- Adjusted earnings of $0.47 a share were in line with estimates.
- “While we experienced sequentially slower growth in the third quarter, we believe we are continuing to outpace the soft general industrial marketplace,” Paul Sternlieb, president and chief executive of Enerpac (EPAC), said in a statement.