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Enpro Industries, Inc (NPO) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Enpro Industries, Inc

CIK: 1164863 Ticker: NPO

Exhibit 99.1
image0a421a.jpg

News Release
Investor Contact:Jerry L. JohnsonEnPro Industries
Senior Vice President - Strategy, Corporate 5605 Carnegie Boulevard
Development and Investor RelationsCharlotte, North Carolina 28209-4674
Phone:704-731-1527Phone: 704-731-1500
Email:investor.relations@enproindustries.comFax: 704-731-1511
www.enproindustries.com

EnPro Reports Fourth Quarter and Full Year 2020 Results; Introduces Full Year 2021 Guidance

Fourth Quarter and Full Year 2020 Highlights
(All results reflect comparisons to prior-year period and Fairbanks Morse as a discontinued operation unless otherwise noted)
Sales decreased 3.7% to $276.0 million for the quarter; sales decreased 10.9% to $1,074.0 million for the year
Loss from continuing operations attributable to EnPro Industries, Inc. was $8.9 million for the quarter, compared to a loss of $8.2 million in the prior-year period; a loss of $23.7 million for the year, compared to income of $7.8 million in the prior year
Adjusted EBITDA increased 11.1% to $48.1 million for the quarter, adjusted EBITDA margin increased 230 bps to 17.4%; Adjusted EBITDA decreased 0.6% to $168.3 million for the year, adjusted EBITDA margin increased 170 bps to 15.7%
Diluted loss per share from continuing operations attributable to EnPro Industries, Inc. was $0.43 for the quarter, compared to a loss of $0.40 in the prior-year period; diluted loss per share from continuing operations was $1.15 for the year, compared to earnings per share of $0.38 in the prior year
Adjusted diluted earnings per share increased 27.8% to $1.24 for the quarter versus $0.97 in the prior-year period; adjusted diluted earnings per share increased 4.4% to $4.07 for the year versus $3.90 for the prior year
Strategic portfolio reshaping actions during the fourth quarter included the acquisition of Alluxa and the sale of STEMCO’s Air Springs and GGB’s bushing block businesses
Realigned reporting segments to group similar businesses to streamline operations and provide investors with additional transparency
Initiating 2021 guidance ranges for sales of $1.04 billion to $1.08 billion, adjusted EBITDA of $178 million to $188 million, and adjusted diluted earnings per share from continuing operations of $4.32 to $4.66

CHARLOTTE, N.C., February 23, 2021 -- EnPro Industries, Inc. (NYSE: NPO) today announced its financial results for the three-month and twelve-month periods ended December 31, 2020.

“We were pleased to have closed the year with another strong quarter of financial performance that included adjusted EBITDA margin expansion of approximately 230 basis points, despite the ongoing impact of COVID-19 on the broader global economy,” said Marvin Riley, President and Chief Executive Officer. “During the quarter, we achieved a number of strategic milestones as we continued to transform our business in support of our profitable growth strategy, including closing the Alluxa acquisition, completing the sale of STEMCO’s Air Springs and GGB’s bushing block businesses, and implementing our re-segmentation.”

Mr. Riley continued, “The resiliency of our fourth quarter results reflects our disciplined approach to portfolio reshaping and cost management actions. In addition, we experienced positive momentum within the semiconductor, food and pharma, automotive, power generation, and heavy-duty truck markets, which contributed to our fourth quarter year-over-year adjusted EBITDA improvement.”


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The following information was filed by Enpro Industries, Inc (NPO) on Tuesday, February 23, 2021 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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Inside Enpro Industries, Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

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 Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Additional Information (Detail)
Accumulated Other Comprehensive 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)
Derivatives And Hedging
Derivatives And Hedging Derivatives And Hedging (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Details)
Discontinued Operations - Classes Of Assets And Liabilities (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)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Detail)
Long-Term Debt - Schedule Of Future Principal Payments On Long-Term Debt (Detail)
Long-Term Debt - Schedule Of Long Term Debt (Detail)
Other Expense
Other Expense (Tables)
Other Expense - Additional Information (Detail)
Other Expense - Schedule Of Restructuring Costs By Reportable Segment (Detail)
Other Expense - Schedule Of Restructuring Reserves (Detail)
Overview, Basis Of Presentation, Significant Accounting Policies And Recently Issued Accounting Guidance
Overview, Basis Of Presentation, Significant Accounting Policies And Recently Issued Accounting Guidance (Details)
Overview, Basis Of Presentation, Significant Accounting Policies And Recently Issued Accounting Guidance (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: 0001164863-21-000011
Submitted to the SEC: Mon Mar 01 2021 3:06:56 PM EST
Accepted by the SEC: Mon Mar 01 2021
Period: Thursday, December 31, 2020
Industry: Gaskets Packg And Sealg Devices And Rubber And Plastics Hose

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