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