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Enpro Industries, Inc (NPO) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Enpro Industries, Inc

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CIK: 808439 Ticker: NPO

Exhibit 99.1

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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 Strong Third Quarter 2021 Results

Third Quarter 2021 Highlights
(All results reflect comparisons to prior-year period unless otherwise noted)

•Sales of $283.1 million increased 5.5%; organic sales increased 15.8%
•Income from continuing operations attributable to EnPro Industries, Inc. was $27.5 million, compared to loss of $21.6 million in the third quarter of 2020
•Adjusted EBITDA* increased 22% to $51.5 million; adjusted EBITDA margin increased 250 bps to 18.2%
•Diluted earnings per share from continuing operations attributable to EnPro Industries, Inc. was $1.33, compared to a diluted loss per share of $1.05
•Adjusted diluted earnings per share* increased 39% to $1.40 versus $1.01
•Net debt to adjusted EBITDA ratio reduced to 0.8x at September 30, 2021
•Guidance updated to reflect recent divestiture of the polymer components business within Sealing Technologies segment
•Agreement to sell Compressor Products International (CPI) announced subsequent to quarter-end; expected to close by end of 1Q:22, subject to regulatory and works council approvals
•Separately announced agreement today to acquire NxEdge, a leading provider of vertically integrated capabilities across the semiconductor value chain, for $850 million in cash.


CHARLOTTE, N.C., November 5, 2021 -- EnPro Industries, Inc. (NYSE: NPO) today announced its financial results for the three and nine months ended September 30, 2021.

"Enpro delivered strong third quarter results driven primarily by continued momentum in our Sealing Technologies and Advanced Surface Technologies segments,” said Eric Vaillancourt, Interim President and Chief Executive Officer. “Our commercial and supply chain teams have done an excellent job mitigating the impact of the supply chain headwinds facing our businesses and remaining agile in the face of raw material shortages and inflationary pressures. In addition, our results for the quarter reflect our team's continued focus on cost management and our ability to capitalize on increased demand in general industrial, semiconductor, petrochemical, heavy-duty truck and food & pharma markets.”

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The following information was filed by Enpro Industries, Inc (NPO) on Friday, November 5, 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:

  • 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

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)
Acquisition And Divestiture
Acquisition And Divestiture (Tables)
Acquisition And Divestiture - Additional Information (Details)
Acquisition And Divestiture - 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)
Subsequent Events
Subsequent Events (Details)

Material Contracts, Statements, Certifications & more

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

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: 0001164863-21-000044
Submitted to the SEC: Fri Nov 05 2021 1:33:07 PM EST
Accepted by the SEC: Fri Nov 05 2021
Period: Thursday, September 30, 2021
Industry: Gaskets Packg And Sealg Devices And Rubber And Plastics Hose

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