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Mar 31, 2021
Enpro Q1 2021 Earnings Report
Enpro reported strong first quarter results and increased full-year guidance.
Key Takeaways
Enpro Industries reported a strong start to the year with a 28.1% increase in adjusted EBITDA and a 420 bps margin expansion. The company's sales reached $279.3 million, with organic sales growing by 5.5%.
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.
Enpro
Enpro
Enpro Revenue by Segment
Revenue by Segment
Sealing Technologies Revenue
CapyFin.comAdvanced Surface Technologies Revenue
CapyFin.com Forward Guidance
Enpro Industries updated its 2021 guidance ranges, expecting 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.
Positive Outlook
- Sales to be in the range of $1.05 billion to $1.10 billion
- Adjusted EBITDA to be in the range of $190 million to $200 million
- Adjusted Diluted EPS to be in the range of $4.74 to $5.08
- Amortization of Acquisition-Related Intangible Assets: $44 – $46 million
- Depreciation and Other Amortization: $33 – $35 million
Challenges Ahead
- Net Interest Expense: $15 – $17 million
- Normalized Tax Rate: 30%
- Full-year guidance excludes changes in the number of shares outstanding
- Full-year guidance excludes impacts from future acquisitions, dispositions and related transaction costs, restructuring costs, incremental impacts of tariffs and trade tensions on market demand and costs subsequent to the end of the first quarter
- Full-year guidance excludes the impact of foreign exchange rate changes subsequent to the end of the first quarter, impacts from further spread of COVID-19, and environmental and litigation charges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income