Enpro Q3 2021 Earnings Report
Key Takeaways
Enpro Industries reported a 5.5% increase in sales to $283.1 million, with organic sales up 15.8%. Adjusted EBITDA increased by 22% to $51.5 million, resulting in an adjusted EBITDA margin of 18.2%. Diluted earnings per share from continuing operations were $1.33, while adjusted diluted earnings per share increased by 39% to $1.40.
Sales increased 5.5% to $283.1 million; organic sales increased 15.8%.
Adjusted EBITDA increased 22% to $51.5 million; adjusted EBITDA margin increased 250 bps to 18.2%.
Diluted earnings per share from continuing operations was $1.33, compared to a diluted loss per share of $1.05.
Adjusted diluted earnings per share increased 39% to $1.40 versus $1.01.
Enpro
Enpro
Enpro Revenue by Segment
Forward Guidance
The company now expects 2021 sales to be in the range of $1.085 billion to $1.120 billion, adjusted EBITDA to be in the range of $202 million to $208 million, and adjusted diluted earnings per share from continuing operations to be in the range of $5.35 to $5.55.
Positive Outlook
- Sales expected to be in the range of $1.085 billion to $1.120 billion.
- Adjusted EBITDA expected to be in the range of $202 million to $208 million.
- Adjusted diluted earnings per share from continuing operations expected to be in the range of $5.35 to $5.55.
- Amortization of Acquisition-Related Intangible Assets: $44 – $46 million
- Net Interest Expense: $13 – $15 million
Challenges Ahead
- Depreciation and Other Amortization: $28 – $30 million
- Normalized Tax Rate: 30%
- Full-year guidance excludes changes in the number of shares outstanding
- Full-year guidance excludes impacts from future and pending acquisitions, dispositions and related transaction costs
- Full-year guidance excludes pending or potential labor disputes
Revenue & Expenses
Visualization of income flow from segment revenue to net income