Record Third Quarter Revenue
Enerpac Tool Group reported record third quarter revenue since the relaunch in 2019, with total year-over-year revenue growth of 6% including the acquired DTA business.
Strong Performance in Americas and APAC Regions
The Americas region posted high single-digit organic growth driven by demand in aerospace, infrastructure, and nuclear industries. The APAC region saw mid-single-digit growth, particularly in heavy lifting technology for major rail projects and maintenance in Thailand, Japan, and the Philippines.
Cortland Biomedical Segment Growth
Cortland Biomedical reported growth of 19% with strong performance of existing products and new product launches in diagnostics, bioprocessing, and robotic surgery.
Resilient EBITDA and Strong Balance Sheet
Adjusted EBITDA increased 3.4% for the third quarter, and the company maintained a strong balance sheet with net debt of $50 million and total liquidity of $539 million.
Successful Innovation and R&D Investment
Enerpac invested in a new innovation lab with advanced equipment, reducing prototyping time significantly and enhancing their R&D capabilities.