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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.
Enpro
Enpro
Enpro Revenue by Segment
Revenue by Segment
Sealing Technologies Revenue
CapyFin.comAdvanced Surface Technologies Revenue
CapyFin.com 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