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Mar 31, 2023
Enpro Q1 2023 Earnings Report
Enpro reported a strong first quarter with sales up, driven by record performance in the Sealing Technologies segment.
Key Takeaways
Enpro Industries reported a strong start to 2023, with a 4.6% increase in sales to $282.6 million and a 16.3% increase in adjusted EBITDA to $68.6 million. The company's performance was driven by record profitability in the Sealing Technologies segment.
Sales increased by 4.6% to $282.6 million, with organic sales up 6.3%.
Adjusted EBITDA increased by 16.3% to $68.6 million, with adjusted EBITDA margin up over 240 bps to 24.3%.
Diluted earnings per share from continuing operations increased to $1.24, compared to $0.57 last year.
The company maintains its full-year 2023 guidance for revenue growth and adjusted EBITDA.
Revenue by Segment
Forward Guidance
EnPro Industries, Inc. continues to expect 2023 revenue growth in the flat-to-low single digits, adjusted EBITDA is in the range of $248 million to $260 million and adjusted diluted earnings per share in the range of $6.45 to $7.05 per share.
Positive Outlook
- Revenue growth in the flat-to-low single digits.
- Adjusted EBITDA between $248 million and $260 million
- Adjusted diluted earnings per share between $6.45 and $7.05
Challenges Ahead
- Changes in the number of shares outstanding
- Impacts from future and pending acquisitions
- Dispositions and related transaction costs
- Restructuring costs
- Incremental impacts of tariffs and trade tensions on market demand and costs subsequent to March 31, 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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