Enerpac Tool Group Corp (EPAC) delivered a resilient QQ2 2025 performance amid a soft industrial backdrop. Reported revenue was $145.5 million, up 5% year over year on a reported basis (5.1% organic growth when adjusting for FX and the DTA acquisition), led by the Industrial Tools & Services (ITS) segment and strength in Heavy Lifting Technology (HLT). EBITDA margins stood at 23.2% for the quarter, modestly pressured by mix (notably higher HLT contribution, which carries lower gross margins than standard tools) and the DTA integration, but remained within top-quartile levels for the sector. Management preserved full-year guidance, signaling confidence in a stronger second half driven by volume leverage, productivity initiatives (PEP), and the ramp of new products. The company stressed ongoing macro uncertainty and tariff risks, while highlighting meaningful strategic initiatives: cross-selling DTA, ECX rollout across regions (Americas, EMEA), a robust e-commerce program (notably 43% YoY growth in Q2), and a disciplined M&A pipeline. Balance sheet strength is notable: net debt of ~$72.6 million and net debt/adjusted EBITDA of ~0.5x, with total liquidity of ~$518 million. Investors should weigh EPAC’s exposure to cyclical end-markets (infrastructure, wind, oil & gas) against a diversified portfolio, strong gross margins, and a connective strategy (ECX, DTA, and innovation). Near-term price discipline and margin progression in H2 will be key drivers of the investment thesis.