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Enpro Industries, Inc (NPO) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Enpro Industries, Inc

CIK: 1164863 Ticker: NPO


Exhibit 99.1
image1.jpg

News Release


Investor Contacts:Milt Childress
Executive Vice President and
Chief Financial Officer
James Gentile
Vice President, Investor Relations
Phone:704-731-1527
Email:investor.relations@enproindustries.com
EnPro Industries, Inc.
5605 Carnegie Boulevard
Charlotte, North Carolina, 28209-4674
Phone:704-731-1500
Fax: 704-731-1511
www.enproindustries.com

Enpro Reports Fourth Quarter and Full Year 2021 Results, Introduces 2022 Guidance

Fourth Quarter and Full Year 2021 Highlights
(All results reflect comparisons to the respective prior-year period unless otherwise noted)

Sales of $280.8 million increased 1.7% and organic sales increased 10.4% for the quarter; for the year, sales of $1.14 billion increased 6.3% and organic sales increased 14.4%

Income from continuing operations attributable to EnPro Industries, Inc. for the quarter was $102.4 million, compared to a loss of $8.9 million; income from continuing operations was $177.2 million for the year, compared to a loss of $23.7 million

Adjusted EBITDA* decreased 0.8% to $47.7 million and adjusted EBITDA margin decreased 40 bps to 17.0% for the quarter; adjusted EBITDA* increased 23.8% to $208.4 million and adjusted EBITDA margin increased 260 bps to 18.3% for the year

Diluted earnings per share from continuing operations attributable to EnPro Industries, Inc. was $4.92 for the quarter, compared to a diluted loss per share of $0.43; diluted earnings per share from continuing operations was $8.53 for the year, compared to a diluted loss per share of $1.15

Adjusted diluted earnings per share* decreased 0.8% to $1.23 for the quarter versus $1.24 in the prior-year period; adjusted diluted earnings per share* increased 36.4% to $5.55 in 2021 versus $4.07 in the prior-year

Completed acquisition of NxEdge, a leading provider of vertically integrated capabilities across the semiconductor value chain, and the divestiture of Compressor Products International, Inc. (CPI) in December

Introducing guidance for 2022: revenue growth in the low double-digit range, adjusted EBITDA of $263 million to $275 million, and adjusted diluted earnings per share from continuing operations of $6.70 to $7.25

CHARLOTTE, N.C., February 22, 2022 -- EnPro Industries, Inc. (NYSE: NPO) today announced its financial results for the three months and year ended December 31, 2021.

"Enpro delivered solid fourth quarter results capping another transformational year for our company,” said Eric Vaillancourt, President and Chief Executive Officer. “I am proud of the resilience of our team and their ability to
1

The following information was filed by Enpro Industries, Inc (NPO) on Tuesday, February 22, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Enpro Industries, Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Enpro Industries, Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Accrued Expenses
Accrued Expenses (Tables)
Accrued Expenses - Schedule Of Accrued Expenses (Detail)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) - Additional Information (Detail)
Accumulated Other Comprehensive Income (Loss) - Summary Of Changes In Accumulated Other Comprehensive Loss By Components (Detail)
Acquisitions And Dispositions
Acquisitions And Dispositions (Tables)
Acquisitions And Dispositions - Acquisitions (Details)
Acquisitions And Dispositions - Acquisitions Narrative (Details)
Acquisitions And Dispositions - Dispositions Narrative (Details)
Acquisitions And Dispositions - Pro Forma (Details)
Business Segment Information
Business Segment Information (Tables)
Business Segment Information - Additional Information (Detail)
Business Segment Information - Schedule Of Assets And Long Lived Assets Segment (Detail)
Business Segment Information - Schedule Of Net Sales By Geographical Area (Detail)
Business Segment Information - Schedule Of Segment Operating Results And Other Financial Data (Detail)
Business Segment Information - Schedule Of Segment Related Capital Expenditure, Depreciation And Amortization On Those Expenditures (Detail)
Business Segment Information - Third Party Sales By Major End Market (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Changes In Carrying Amount Of Product Warranty Liability (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Schedule Of Future Principal Payments On Long-Term Debt (Detail)
Debt - Schedule Of Long Term Debt (Detail)
Derivatives And Hedging
Derivatives And Hedging Derivatives And Hedging (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Details)
Discontinued Operations - Results Of Operations (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Tables)
Earnings (Loss) Per Share - Schedule Of Computation Of Basic And Diluted Earnings Per Share (Detail)
Equity Compensation Plan
Equity Compensation Plan (Tables)
Equity Compensation Plan - Additional Information (Detail)
Equity Compensation Plan - Estimated Fair Value Of The Option Award (Details)
Equity Compensation Plan - Issued Performance Share Awards To Eligible Participants (Details)
Equity Compensation Plan - Schedule Of Equity Based Compensation (Detail)
Equity Compensation Plan - Schedule Of Information With Respect To Stock Options (Details)
Equity Compensation Plan - Schedule Of Intrinsic Value Related To Stock Options (Detail)
Equity Compensation Plan - Summary Of Option Activity Under Plan (Details)
Equity Compensation Plan - Summary Of Restricted Share Units Activity, Performance Share Activity And Restricted Stock Activity (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On Recurring Basis (Detail)
Fair Value Measurements - Schedule Of Carrying Value Of Financial Instruments (Detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Detail)
Goodwill And Other Intangible Assets - Schedule Of Changes In Net Carrying Value Of Goodwill By Reportable Segment (Detail)
Goodwill And Other Intangible Assets - Schedule Of Estimated Amortization Expense Of Intangible Assets (Detail)
Goodwill And Other Intangible Assets - Schedule Of Identifiable Intangible Assets (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Net Deferred Tax Assets (Details)
Income Taxes - Reconciliation Of Effective Tax Rate (Detail)
Income Taxes - Schedule Of Deferred Income Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Income Before Income Tax Domestic And Foreign (Detail)
Income Taxes - Schedule Of Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits (Detail)
Income Taxes - Summary Of Income Tax Expense In Consolidated Statements Of Operations From Continuing Operations (Detail)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Detail)
Leases
Leases (Tables)
Leases - Balance Sheet Classification (Details)
Leases - Lease Cost And Cash Flows (Details)
Leases - Maturities Of Operating Lease Liabilities (Details)
Leases - Narrative And Other Information (Details)
Other Income (Expense)
Other Income (Expense) (Tables)
Other Income (Expense) - Additional Information (Detail)
Other Income (Expense) - Schedule Of Restructuring Costs By Reportable Segment (Detail)
Other Income (Expense) - Schedule Of Restructuring Reserves (Detail)
Overview, Basis Of Presentation, And Significant Accounting Policies
Overview, Basis Of Presentation, And Significant Accounting Policies (Details)
Overview, Basis Of Presentation, And Significant Accounting Policies (Policies)
Pensions And Postretirement Benefits
Pensions And Postretirement Benefits (Tables)
Pensions And Postretirement Benefits - Additional Information (Detail)
Pensions And Postretirement Benefits - Schedule Of Asset Allocation For Pension Plans And Target Allocation By Asset Category (Detail)
Pensions And Postretirement Benefits - Schedule Of Assumed Health Care Cost Trend Rates (Detail)
Pensions And Postretirement Benefits - Schedule Of Benefit Payments Reflecting Expected Future Service As Appropriate Expected To Be Paid (Detail)
Pensions And Postretirement Benefits - Schedule Of Change In Plan Assets And Underfunded Status At End Of Year (Detail)
Pensions And Postretirement Benefits - Schedule Of Change In Projected Benefit Obligations (Detail)
Pensions And Postretirement Benefits - Schedule Of Fair Value Of Plan Assets (Detail)
Pensions And Postretirement Benefits - Schedule Of Net Periodic Benefit Cost (Detail)
Pensions And Postretirement Benefits - Schedule Of Other Changes In Plan Assets And Benefit Obligations Recognized In Other Comprehensive Income (Detail)
Pensions And Postretirement Benefits - Schedule Of Pre-Tax Charges Recognized In Accumulated Other Comprehensive Income Loss (Detail)
Pensions And Postretirement Benefits - Schedule Of Projected Benefit Obligations Amounts Recognized In Consolidated Balance Sheets (Detail)
Pensions And Postretirement Benefits - Schedule Of Weighted-Average Assumptions Used To Determine Benefit Obligations And Net Periodic Benefit Cost (Detail)
Property, Plant And Equipment
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Schedule Of Property, Plant And Equipment (Detail)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Detail)
Shareholders' Equity
Shareholders' Equity (Details)
Ticker: NPO
CIK: 1164863
Form Type: 10-K Annual Report
Accession Number: 0001164863-22-000010
Submitted to the SEC: Tue Mar 01 2022 3:50:35 PM EST
Accepted by the SEC: Tue Mar 01 2022
Period: Friday, December 31, 2021
Industry: Gaskets Packg And Sealg Devices And Rubber And Plastics Hose

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