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Enpro Industries, Inc (NPO) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2017

Enpro Industries, Inc

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CIK: 1164863 Ticker: NPO


Exhibit 99.1
image0a10.jpg

News Release

Investor Contact:
Chris O'Neal
EnPro Industries
 
Vice President, Strategy, Corporate Development &
5605 Carnegie Boulevard
 
Investor Relations
Charlotte, North Carolina 28209-4674
Phone:
704-731-1527
Phone: 704-731-1500
Email:
investor.relations@enproindustries.com
Fax: 704-731-1511
 
 
www.enproindustries.com

EnPro Industries Reports Results for the First Quarter of 2017

Consolidated and Pro Forma Financial Highlights
(Amounts in millions except per share data and percentages)

Consolidated Financial Results1
Quarters Ended March 31,
Excludes Garlock Sealing Technologies LLC
2017
2016
% Δ
Net Sales
$
295.8

$
294.9

0.3%
Segment Profit
$
36.0

$
18.0

100.0%
Segment Margin
12.2%

6.1%

 
Net Income (Loss)
$
6.4

$
(46.8
)
nm
Diluted Earnings (Loss) Per Share
$
0.30

$
(2.15
)
nm
Adjusted Net Income (Loss)2
$
9.5

$
(0.2
)
nm
Adjusted Diluted Earnings (Loss) Per Share2
$
0.44

$
(0.01
)
nm
Adjusted EBITDA2
$
42.7

$
26.8

59.3%
Adjusted EBITDA Margin2
14.4%

9.1%

 

Pro Forma Financial Information
Quarters Ended March 31,
Includes Garlock Sealing Technologies LLC3
2017
2016
% Δ
Pro Forma Net Sales2
$
337.9

$
334.7

1.0%
Pro Forma Segment Profit2
$
44.2

$
24.0

84.2%
Pro Forma Segment Margin2
13.1%

7.2%

 
Pro Forma Adjusted Net Income2
$
20.1

$
8.6

133.7%
Pro Forma Adjusted EBITDA2
$
53.9

$
36.0

49.7%
Pro Forma Adjusted EBITDA Margin2
16.0%

10.8%

 
1Consolidated results for the first quarters of 2017 and 2016 reflect the deconsolidation of Garlock Sealing Technologies LLC ("GST") and its subsidiaries, effective June 5, 2010, when GST filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code to begin a process (the Asbestos Claims Resolutions Process, or "ACRP") in pursuit of an efficient and permanent resolution to all current and future asbestos claims against it and the deconsolidation of OldCo, LLC ("OldCo") effective January 30, 2017 when it filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in furtherance of the Asbestos Claims Resolution Process.
2See attached schedules for adjustments and reconciliations to GAAP numbers.
3Pro forma financial information in these tables and throughout this press release is presented as if GST and OldCo were reconsolidated with EnPro based on confirmation and consummation of the joint plan of reorganization filed pursuant to the comprehensive settlement announced on March 17, 2016. See attached unaudited condensed consolidated pro forma statements of operations.


1
The following information was filed by Enpro Industries, Inc (NPO) on Tuesday, May 2, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how Enpro Industries, Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
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Enpro Industries, Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Enpro Industries, Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Accrued Expenses
Accrued Expenses (tables)
Accrued Expenses - Schedule Of Accrued Expenses (detail)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (tables)
Accumulated Other Comprehensive Loss - Summary Of Changes In Accumulated Other Comprehensive Loss By Component (detail)
Accumulated Other Comprehensive Loss - Summary Of Reclassifications Out Of Accumulated Other Comprehensive Loss (detail)
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 Segment Operating Results And Other Financial Data (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Narrative (details)
Commitments And Contingencies - Schedule Of Changes In Carrying Amount Of Product Warranty Liability (detail)
Commitments And Contingencies - Schedule Of Future Insurance Proceeds (detail)
Earnings (loss) Per Share
Earnings (loss) Per Share (tables)
Earnings Per Share - Schedule Of Computation Of Basic And Diluted Earnings Per Share (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)
Garlock Sealing Technologies Llc And Garrison Litigation Management Group, Ltd., And Oldco, Llc
Garlock Sealing Technologies Llc And Garrison Litigation Management Group, Ltd., And Oldco, Llc (tables)
Garlock Sealing Technologies Llc And Garrison Litigation Management Group, Ltd., And Oldco, Llc - Additional Information (detail)
Garlock Sealing Technologies Llc And Garrison Litigation Management Group, Ltd., And Oldco, Llc - Schedule Of Condensed Combined Balance Sheets (detail)
Garlock Sealing Technologies Llc And Garrison Litigation Management Group, Ltd., And Oldco, Llc - Schedule Of Condensed Combined Statements Of Cash Flows (detail)
Garlock Sealing Technologies Llc And Garrison Litigation Management Group, Ltd., And Oldco, Llc - Schedule Of Condensed Combined Statements Of Comprehensive Income (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 Identifiable Intangible Assets (detail)
Inventories
Inventories (tables)
Inventories - Schedule Of Inventories (detail)
Long-term Contracts
Long-term Contracts (tables)
Long-term Contracts Costs And Billings On Uncompleted Contracts - Schedule Of Information Regarding Contracts Accounted For Under Percentage-of-completion Method (detail)
Long-term Contracts Costs And Billings On Uncompleted Contracts - Schedule Of Uncompleted Contracts Reflected In Consolidated Balance Sheets (detail)
Long-term Debt
Long-term Debt - Additional Information (detail)
Overview, Basis Of Presentation And Recently Issued Authoritative Accounting Guidance
Overview, Significant Accounting Policies And Recently Issued Accounting Pronouncements - Additional Information (details)
Pensions And Postretirement Benefits
Pensions And Postretirement Benefits (tables)
Pensions And Postretirement Benefits - Schedule Of Net Periodic Benefit Cost (detail)
Related Party Transactions
Related Party Transactions (tables)
Related Party Transactions - Additional Information (detail)
Related Party Transactions - Schedule Of Amounts Included In Financial Statements Arising From Transactions With Gst (detail)
Shareholders' Equity
Shareholders' Equity (details)
Supplemental Guarantor Financial Information
Supplemental Guarantor Financial Information (tables)
Supplemental Guarantor Financial Information Condensed Consolidating Balance Sheets (details)
Supplemental Guarantor Financial Information Condensed Consolidating Statement Of Cash Flows (details)
Supplemental Guarantor Financial Information Condensed Consolidating Statement Of Operations (details)

Material Contracts, Statements, Certifications & more

Enpro Industries, Inc provided additional information to their SEC Filing as exhibits

Exhibit 23.1: Consents Of Experts And Counsel
Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32: Section 1350 Certification
Ticker: NPO
CIK: 1164863
Form Type: 10-Q Quarterly Report
Accession Number: 0001164863-17-000014
Submitted to the SEC: Tue May 02 2017 2:32:06 PM EST
Accepted by the SEC: Tue May 02 2017
Period: Friday, March 31, 2017
Industry: Gaskets Packg And Sealg Devices And Rubber And Plastics Hose

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