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Thomas Lloyd Hayes

Managing Director and Senior Equity Analyst at Roth Capital Partners

Thomas Lloyd Hayes is a Managing Director and Senior Equity Analyst at Roth Capital Partners, specializing in industrial growth and special situation investments. At Roth, he covers a select portfolio of 12 publicly traded companies, primarily listed on the NYSE and NASDAQ, with a focus on industrials such as machinery, process technology, and industrial technology firms; among the companies he follows is Tennant Company (TNC), for which he initiated coverage in October 2025. Over the past seven years, Hayes has delivered a strong track record with 59% of his ratings being Buy recommendations, and he has demonstrated a higher propensity toward positive calls compared to Hold ratings (41%), though detailed return metrics and third-party rankings (e.g., TipRanks) are not publicly disclosed. Hayes joined Roth in June 2025, having previously served as Sr. Vice President at C.L. King (covering the broader industrial sector), Managing Director and senior equity research analyst at Northcoast Research (focusing on industrial equipment, technology, and clean tech), and earlier roles at Thompson Research Group and Piper Jaffray (now Piper Sandler); he began his career with nearly a decade of hands-on experience in the industrial and manufacturing sector. He holds an MBA from the Carlson School of Management at the University of Minnesota and a B.S. in Accountancy from California State University, Chico, and is duly registered as a broker with FINRA, though no formal public achievement awards or notable violations were identified in available records.

Thomas Lloyd Hayes's questions to ENERPAC TOOL GROUP (EPAC) leadership

Question · Q4 2025

Thomas Lloyd Hayes inquired about the primary drivers of weakness in the EMEA market, specifically if it was concentrated in Europe, and asked for management's outlook on market conditions for the upcoming year. He also asked for an update on Enerpac's strong e-commerce performance, inquiring about its geographic rollout and future investment plans. Lastly, he questioned the progress of the DTA integration, asking where the company was seeing good traction, particularly regarding cross-sells, and opportunities for further expansion.

Answer

Paul Sternlieb, President and CEO, confirmed that EMEA weakness was primarily in Central and Southern Europe due to macro softening and a tough Q4 fiscal 2024 service business comparable. He stated that e-commerce is global, rolled out in the U.S., Europe, and Australia, with continued investment driving marginally accretive growth. For DTA, Mr. Sternlieb expressed satisfaction with integration and commercial synergies, noting robust orders, expanded backlog, and significant growth opportunities in the U.S. market, attributing success to efficient manufacturing and supply chain expertise.

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