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Enpro Industries, Inc (NPO) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Enpro Industries, Inc

CIK: 1164863 Ticker: NPO


Exhibit 99.1
image0a17.jpg

News Release

Investor Contact:
Chris O'Neal
EnPro Industries
 
Senior Vice President, Strategy, Corporate
5605 Carnegie Boulevard
 
Development and 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 Second Quarter of 2018

Consolidated and Pro Forma Financial Highlights
(Amounts in millions except per share data and percentages)
Results for the Quarter Ended
Consolidated1
Pro Forma2
June 30
20183
2017
 
2017
% Δ4
Net Sales
$
393.6

$
307.6

 
$
347.0

13.4
 %
Segment Profit5
$
31.2

$
35.8

 
$
45.5

(31.4
)%
Segment Margin
7.9%

11.6%

 
13.1%

 
Net Income
$
9.9

$
9.0

 
$
18.5

(46.5
)%
Diluted Earnings Per Share
$
0.47

$
0.41

 
$
0.85

(44.7
)%
Adjusted Net Income6
$
15.8

$
10.1

 
$
22.0

(28.2
)%
Adjusted Diluted Earnings Per Share6
$
0.75

$
0.46

 
$
1.01

(25.7
)%
Adjusted EBITDA6
$
47.7

$
45.2

 
$
58.5

(18.5
)%
Adjusted EBITDA Margin6
12.1%

14.7%

 
16.9%

 


Results for the Six Months Ended
Consolidated1
Pro Forma2
June 30
20183
2017
 
2017
% Δ4
Net Sales
$
762.4

$
603.4

 
$
684.9

11.3
 %
Segment Profit5
$
73.3

$
72.0

 
$
89.3

(17.9
)%
Segment Margin
9.6%

11.9%

 
13.0%

 
Net Income
$
22.5

$
15.4

 
$
34.3

(34.4
)%
Diluted Earnings Per Share
$
1.05

$
0.71

 
$
1.57

(33.1
)%
Adjusted Net Income6
$
34.2

$
19.6

 
$
42.1

(18.8
)%
Adjusted Diluted Earnings Per Share6
$
1.60

$
0.90

 
$
1.93

(17.1
)%
Adjusted EBITDA6
$
99.7

$
87.9

 
$
112.3

(11.2
)%
Adjusted EBITDA Margin6
13.1%

14.6%

 
16.4%

 

1 Consolidated results for the three months and six months ended June 30, 2017 reflect (i) 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 Resolution Process, or “ACRP”) in pursuit of an efficient and permanent resolution to all current and future asbestos claims against it and (ii) 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 ACRP. Consolidated results for the three months and six months ended June 30, 2018 include the results of GST and OldCo, which were reconsolidated effective as of July 31, 2017 upon the consummation and effectiveness of the joint plan of reorganization confirmed in the ACRP.

1

The following information was filed by Enpro Industries, Inc (NPO) on Thursday, August 2, 2018 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

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Enpro Industries, Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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  • 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)
Business Segment Information Business Segment Information - Revenue By End Market (Details)
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)
Derivatives And Hedging
Derivatives And Hedging Derivatives And Hedging (Details)
Earnings Per Share
Earnings 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)
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)
Income Taxes
Income Taxes Income Taxes - Additional Information (Details)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Detail)
Long-Term Debt
Long-Term Debt - Additional Information (Detail)
Overview, Basis Of Presentation, Significant Accounting Policy Update, And Recently Issued Authoritative Accounting Guidance
Overview, Basis Of Presentation, Significant Accounting Policy Update, And Recently Issued Authoritative Accounting Guidance (Tables)
Overview, Basis Of Presentation, Significant Accounting Policy Update, And Recently Issued Authoritative Accounting Guidance - 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 - Schedule Of Amounts Included In Financial Statements Arising From Transactions With Gst (Detail)
Restructuring And Disposal Of Assets Restructuring And Disposal Of Assets
Restructuring And Disposal Of Assets Restructuring And Disposal Of Assets (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers Revenue From Contracts With Customers - Contract With Customer, Asset And Liability (Details)
Revenue From Contracts With Customers Revenue From Contracts With Customers - Other (Details)
Revenue From Contracts With Customers Revenue From Contracts With Customers - Schedule Of Information Regarding Contracts Accounted For Under Percentage-Of-Completion Method (Detail)
Revenue From Contracts With Customers Revenue From Contracts With Customers - Schedule Of Uncompleted Contracts Reflected In Consolidated Balance Sheets (Detail)
Shareholders' Equity
Shareholders' Equity (Details)
Subsequent Event
Subsequent Event Subsequent Event (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

Ticker: NPO
CIK: 1164863
Form Type: 10-Q Quarterly Report
Accession Number: 0001164863-18-000026
Submitted to the SEC: Thu Aug 02 2018 12:03:20 PM EST
Accepted by the SEC: Thu Aug 02 2018
Period: Saturday, June 30, 2018
Industry: Gaskets Packg And Sealg Devices And Rubber And Plastics Hose

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