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Mar 31, 2024
Enpro Q1 2024 Earnings Report
Enpro's first quarter results were released, showing a mixed performance with strength in Sealing Technologies offset by softness in Advanced Surface Technologies.
Key Takeaways
Enpro reported a decrease in sales by 8.9% to $257.5 million, with organic sales down 11.6%. Income from continuing operations was $12.5 million, a decrease compared to $26.0 million in the prior year. Adjusted EBITDA decreased by 14.9% to $58.4 million, and adjusted EBITDA margin decreased by 160 bps to 22.7%. The company maintains its full-year 2024 guidance for revenue growth and adjusted EBITDA.
Sales decreased by 8.9% to $257.5 million, with organic sales down 11.6%.
Adjusted EBITDA decreased by 14.9% to $58.4 million, with adjusted EBITDA margin at 22.7%.
GAAP diluted earnings per share from continuing operations decreased to $0.59, compared to $1.24.
The company completed the acquisition of Advanced Micro Instruments, Inc. on January 29, 2024.
Revenue by Segment
Forward Guidance
Enpro continues to expect 2024 revenue growth in the low-to-mid single digit range compared to 2023. Expected adjusted EBITDA and adjusted diluted earnings per share for 2024 remain at $260 million to $280 million and $7.00-$7.80, respectively.
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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