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Enpro Industries, Inc (NPO) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Enpro Industries, Inc

CIK: 1164863 Ticker: NPO



image11a.jpg
Exhibit 99.1
News Release


Investor Contacts:Milt Childress
Executive Vice President and
Chief Financial Officer
Jenny Yee
Executive Assistant and
Investor Relations Coordinator
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 Strong First Quarter 2021 Results; Increases Full-Year Guidance

First Quarter 2021 Highlights
(All results reflect comparisons to prior-year period and Fairbanks Morse as a discontinued operation unless otherwise noted)

Income from continuing operations attributable to EnPro Industries, Inc. was $18.0 million, compared to income of $10.1 million
Adjusted EBITDA increased 28.1% to $52.0 million, adjusted EBITDA margin increased 420 bps to 18.6%
Diluted earnings per share from continuing operations attributable to EnPro Industries, Inc. was $0.87, compared to $0.49
Adjusted diluted earnings per share increased 43% to $1.37 versus $0.96
Sales were $279.3 million, decreasing 1.2% as a result of divestitures in 2020; organic sales increased 5.5%
Updating 2021 guidance ranges: sales of $1.05 to $1.10 billion, adjusted EBITDA of $190 to $200 million, and adjusted diluted earnings per share from continuing operations of $4.74 to $5.08

CHARLOTTE, N.C., May 7, 2021 -- EnPro Industries, Inc. (NYSE: NPO) today announced its financial results for the three months ended March 31, 2021.

“We are pleased to have started the new year with such a strong financial performance that resulted in adjusted EBITDA growth of 28.1% and margin expansion of approximately 420 basis points, ” said Marvin Riley, President and Chief Executive Officer. “We are excited to have unveiled our new brand image in recognition of our commitment to using materials science to push boundaries in semiconductor, life sciences and other industrial technology-enabled sectors. The new brand emphasizes the ongoing transformation of our business to serve faster growing markets and to generate higher returns on invested capital while embracing our core values and company purpose.”

Mr. Riley continued, “First quarter results reflect improved demand, strong cost management and the benefits of increased exposure to higher-margin and faster-growth businesses resulting from recent portfolio reshaping actions. The strong performance of all three segments contributed to year-over-year adjusted EBITDA improvement.

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The following information was filed by Enpro Industries, Inc (NPO) on Friday, May 7, 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-Q Quarterly 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 2021 10-K Annual Report includes:

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

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Accrued Expenses
Accrued Expenses (Tables)
Accrued Expenses - Schedule Of Accrued Expenses (Details)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Summary Of Changes In Accumulated Other Comprehensive Loss By Component (Details)
Accumulated Other Comprehensive Loss - Summary Of Reclassifications Out Of Accumulated Other Comprehensive Loss (Details)
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Details)
Acquisitions - Proforma Results (Details)
Business Segment Information
Business Segment Information (Tables)
Business Segment Information - Additional Information (Details)
Business Segment Information - Revenue By End Market (Details)
Business Segment Information - Schedule Of Assets And Long Lived Assets Segment (Details)
Business Segment Information - Schedule Of Segment Operating Results And Other Financial Data (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Schedule Of Changes In Carrying Amount Of Product Warranty Liability (Details)
Derivatives And Hedging
Derivatives And Hedging (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Details)
Discontinued Operations - Results Of Operations (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Schedule Of Computation Of Basic And Diluted Earnings Per Share (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Fair Value Measurements - Schedule Of Carrying Value Of Financial Instruments (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Details)
Goodwill And Other Intangible Assets - Schedule Of Changes In Net Carrying Value Of Goodwill By Reportable Segment (Details)
Goodwill And Other Intangible Assets - Schedule Of Identifiable Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Details)
Long-Term Debt
Long-Term Debt (Details)
Overview, Basis Of Presentation And Recently Issued Authoritative Accounting Guidance
Overview, Basis Of Presentation And Recently Issued Authoritative Accounting Guidance (Policies)
Overview, Basis Of Presentation And Recently Issued Authoritative Accounting Guidance - Narratives (Details)
Pensions And Postretirement Benefits
Pensions And Postretirement Benefits (Tables)
Pensions And Postretirement Benefits - Schedule Of Net Periodic Benefit Cost (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Additional Information (Details)
Shareholders' Equity - Changes In Shareholders' Equity (Details)
Shareholders' Equity - Schedule Of Assumptions Used (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: 0001164863-21-000025
Submitted to the SEC: Fri May 07 2021 12:04:02 PM EST
Accepted by the SEC: Fri May 07 2021
Period: Wednesday, March 31, 2021
Industry: Gaskets Packg And Sealg Devices And Rubber And Plastics Hose

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