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Enpro Industries, Inc (NPO) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

Enpro Industries, Inc

CIK: 1164863 Ticker: NPO


Exhibit 99.1
image1a.jpg

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
www.enproindustries.com


Enpro Reports Strong Second Quarter 2022 Results; Raises Guidance

Second Quarter 2022 Highlights
(All results reflect comparisons to prior-year period unless otherwise noted)

Sales of $333.3 million increased 11.6%; organic sales increased 9.5%

Net income attributable to EnPro Industries, Inc. was $33.1 million compared to $29.3 million last year

Adjusted EBITDA* increased 43.4% to $82.0 million; adjusted EBITDA margin* increased 540 bps to 24.6%

Diluted earnings per share attributable to EnPro Industries, Inc. was $1.59, compared to a diluted earnings per share of $1.41 last year

Adjusted diluted earnings per share* increased 48.7% to $2.32 versus $1.56 last year

Revenue growth guidance raised to low-to-mid double digits

Adjusted EBITDA guidance increased to $270-$280 million, from the previous range of $263-$275 million

CHARLOTTE, N.C., August 2, 2022 -- EnPro Industries, Inc. (NYSE: NPO) today announced its financial results for the three and six months ended June 30, 2022.

"We delivered outstanding results in the second quarter despite a challenging economic environment marked by inflationary cost pressures, ongoing supply chain challenges and heightened macroeconomic uncertainty," said Eric Vaillancourt, President and Chief Executive Officer. "We drove solid revenue and earnings growth across the company as adjusted EBITDA margins exceeded 24%. Our performance was driven by strong organic growth, including pricing initiatives, and the sustained benefits from our portfolio reshaping actions."

Mr. Vaillancourt continued, “Demand for our leading industrial technology applications remained firm in the second quarter, and we are entering the second half with strong backlog and order patterns. Our results this quarter
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The following information was filed by Enpro Industries, Inc (NPO) on Tuesday, August 2, 2022 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 2022 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 Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) - Summary Of Changes In Accumulated Other Comprehensive Income By Component (Details)
Accumulated Other Comprehensive Income (Loss) - Summary Of Reclassifications Out Of Accumulated Other Comprehensive Income (Details)
Acquisition
Acquisition (Tables)
Acquisition - Additional Information (Details)
Acquisition - 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)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Narrative (Details)
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 And Basis Of Presentation
Overview And Basis Of Presentation (Policies)
Overview And Basis Of Presentation - Additional Information (Details)
Pensions
Pensions (Tables)
Pensions - 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: 0001164863-22-000038
Submitted to the SEC: Tue Aug 02 2022 12:08:10 PM EST
Accepted by the SEC: Tue Aug 02 2022
Period: Thursday, June 30, 2022
Industry: Gaskets Packg And Sealg Devices And Rubber And Plastics Hose

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