Enerpac Tool Group Corp.

ladies and gentlemen thank you for standing by welcome to the enterpact tool group's first quarter fiscal 2024 earnings conference call as a reminder this conference is being recorded december 20th 2023 it's not my pleasure to turn the conference over to travis williams director of investor relations mr williams please go ahead thank you operator

Good morning, and thank you for joining us for Interpac Tool Group's first quarter fiscal 2024 earnings call. On the call today to present the company's results are Paul Sternlieb, President and Chief Executive Officer, and Tony Colucci, Chief Financial Officer. Our slides and a recording of today's call will be available on the Interpac website in the Investors section. Today's call will reference non-GAAP measures. You can find a reconciliation of GAAP to non-GAAP measures in the press release issued yesterday. Our comments will also include forward-looking statements that are subject to business risk that could cause actual results to be materially different. Those risks include matters noted in our latest SEC filings. Now, I will turn the call over to Paul.

Thanks, Travis, and good morning, all. Falling on the heels of Interpac's strong financial performance in fiscal 2023, we started fiscal 2024 with another solid quarter. While we remain cautious as to how the full year will unfold, given the economic and geopolitical uncertainty, we are affirming our full year fiscal 2024 guidance. Our results clearly reflect the continued benefits of our Ascend transformation program, our four-pillar growth strategy, and the changes across the organization that are making Interpac more efficient, more productive, and easier to do business with. As you can see on slide three, first quarter organic revenue, what we previously referred to as core revenue, was up 5.5% from the year-ago period to $142 million. Moreover, we captured significant improvement in operating and SG&A efficiency. With that, adjusted EBITDA expanded 31%, to $35 million in the first quarter of fiscal 2024, enabling us to achieve an adjusted EBITDA margin of 24.6%. I'll let Tony review our first quarter performance and fill in the details about the positive year-over-year gains. Then I will speak about geographic trends, provide some details about a few exciting areas of our growth strategy, and introduce our estimates of revenue breakdown by end market. Tony? Thanks, and good morning.