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Jun 30, 2020
Enpro Q2 2020 Earnings Report
EnPro Industries reported a decrease in sales and a loss from continuing operations due to the economic impacts of the COVID-19 pandemic and weaker market conditions.
Key Takeaways
EnPro Industries reported a 22.1% decrease in sales to $247.0 million and a loss from continuing operations of ($3.3) million. Adjusted EBITDA margin remained relatively stable at 15.2%. The company is focusing on cost management and portfolio shaping to navigate the economic downturn.
Sales decreased 22.1% to $247.0 million.
Adjusted EBITDA margin remained relatively stable at 15.2%, with adjusted EBITDA of $37.5 million.
Diluted loss per share from continuing operations was ($0.16), while adjusted diluted earnings per share decreased 41.9% to $0.54.
Announced final steps toward completion of reshaping the heavy-duty truck business.
Revenue by Segment
Forward Guidance
EnPro Industries expects a 15% to 25% full-year revenue decline compared to 2019, with adjusted EBITDA margins ranging from 13% to 14%.
Positive Outlook
- Strong second quarter results.
- Revised scenario planning ranges provided last quarter.
- Focus on cost management
- Benefits of portfolio shaping work completed during the last year
- Anticipate a modest sequential improvement in the fourth quarter
Challenges Ahead
- Continue to model a 15% to 25% full-year revenue decline compared to 2019
- Typically experience softer demand in the third quarter due to seasonal patterns
- Expecting longer lead time orders to also affect third quarter results.
- Economic uncertainty caused by the COVID-19 pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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