NYSE$NPO

Enpro Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Enpro reported strong first quarter results and increased full-year guidance.

Enpro Industries reported a strong start to the year with a 28.1% increase in adjusted EBITDA and a 420 bps margin expansion. The company's sales reached $279.3 million, with organic sales growing by 5.5%.

  • Income from continuing operations attributable to EnPro Industries, Inc. was $18.0 million, compared to income of $10.1 million.
  • Adjusted EBITDA increased 28.1% to $52.0 million, adjusted EBITDA margin increased 420 bps to 18.6%.
  • Diluted earnings per share from continuing operations attributable to EnPro Industries, Inc. was $0.87, compared to $0.49.
  • Adjusted diluted earnings per share increased 43% to $1.37 versus $0.96.

Headline financials

Total Revenue

$279M

Previous: $283M-1.2%
EPS (adj)

$1.37

Previous: $0.62+121.0%
Adjusted EBITDA

$52M

Previous: $40.6M+28.1%
Adjusted EBITDA Margin

18.6%

Previous: 14.4%+29.2%
Capital Expenditures

-$6.2M

Previous: -$5.2M-19.2%
Free Cash Flow

$11.8M

Previous: $214M-94.5%
Net Income

$18M

Previous: $219M-91.8%
Operating Income

$27.2M

Previous: $20.5M+32.7%
Gross Profit

$109M

Previous: $95.3M+14.8%
Cash & Equivalents

$232M

Previous: $391M-40.6%
Total Assets

$2.08B

Previous: $2.04B+1.9%
Stock-Based Comp

$1.7M

Previous: $1.3M+30.8%

Revenue & EPS history

Enpro · Revenue · Quarterly

$279M

Q1 2021-1.2%vs Q1 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Enpro · $201M total across 2 segments · Q1 2021

  • Sealing Technologies
    $147M-32.2%
  • Advanced Surface Tech
    $54.7M-19.4%

Forward guidance

Enpro Industries updated its 2021 guidance ranges, expecting sales of $1.05 to $1.10 billion, adjusted EBITDA of $190 to $200 million, and adjusted diluted earnings per share from continuing operations of $4.74 to $5.08.

Tailwinds

  • Sales to be in the range of $1.05 billion to $1.10 billion
  • Adjusted EBITDA to be in the range of $190 million to $200 million
  • Adjusted Diluted EPS to be in the range of $4.74 to $5.08
  • Amortization of Acquisition-Related Intangible Assets: $44 – $46 million
  • Depreciation and Other Amortization: $33 – $35 million

Headwinds

  • Net Interest Expense: $15 – $17 million
  • Normalized Tax Rate: 30%
  • Full-year guidance excludes changes in the number of shares outstanding
  • Full-year guidance excludes impacts from future acquisitions, dispositions and related transaction costs, restructuring costs, incremental impacts of tariffs and trade tensions on market demand and costs subsequent to the end of the first quarter
  • Full-year guidance excludes the impact of foreign exchange rate changes subsequent to the end of the first quarter, impacts from further spread of COVID-19, and environmental and litigation charges.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

+0.1%

Avg return

Earnings day

+1.8%

Avg return

5 days after

+1.6%

Avg return

30 days after

45%

29 / 65 earnings

Positive

+19.9%

Q4 2015

Best reaction

-16.5%

Q1 2016

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+3.6%+6.9%+9.5%
Q4 2025-0.1%+2.2%-8.0%
Q3 2025-5.8%-8.9%-3.4%
Q1 2025+6.8%+12.0%+21.6%
Q4 2024+6.2%+1.6%-11.8%
Q3 2024+13.1%+11.5%+33.1%
Q2 2024+1.1%+2.4%+1.3%
Q1 2024-4.0%-0.9%-1.4%
Q4 2023-6.0%-4.2%-0.4%
Q3 2023+1.4%+3.1%+11.6%
Q2 2023-4.5%-2.8%-9.4%
Q1 2023+7.4%+5.5%+8.8%
Q4 2022-7.7%-8.0%-18.7%
Q3 2022+4.0%+13.5%+11.6%
Q2 2022+5.0%+6.3%-3.6%
Q1 2022-1.9%-1.7%+4.3%
Q4 2021-3.2%-1.7%-8.3%
Q3 2021+13.8%+17.7%+17.4%
Q2 2021-7.5%-6.2%-6.6%
Q1 2021+3.4%-1.3%+6.5%
Q4 2020+1.7%+1.4%+6.8%
Q3 2020+0.2%+2.9%+16.9%
Q2 2020+12.1%+19.5%+19.3%
Q1 2020-4.7%+2.9%+13.6%
Q4 2019-2.6%-7.3%-27.2%
Q3 2019-7.3%-5.9%-11.6%
Q2 2019+6.4%-0.3%-10.7%
Q1 2019-12.8%-9.7%-25.3%
Q4 2018+1.1%+4.2%-3.2%
Q3 2018+14.7%+17.9%+17.1%
Q2 2018-8.2%-2.3%-1.7%
Q1 2018-10.0%-5.7%-2.8%
Q4 2017-9.3%-7.4%-6.3%
Q3 2017+3.3%+4.1%+6.0%
Q2 2017+4.7%+1.7%-4.6%
Q1 2017+2.8%+3.3%-5.4%
Q4 2016-6.0%-7.7%-2.9%
Q3 2016-0.5%+3.9%+14.3%
Q2 2016+9.9%+8.6%+17.9%
Q1 2016-16.5%
Q4 2015+19.9%
Q3 2015+11.9%
Q2 2015-3.5%
Q1 2015-8.8%
Q4 2014+2.1%
Q3 2014+1.6%
Q2 2014-8.3%
Q1 2014-0.1%
Q4 2013-0.3%
Q3 2013-3.4%
Q2 2013+3.7%
Q1 2013-0.5%
Q1 2010+2.3%
Q4 2012+0.1%
Q3 2012+4.3%
Q2 2012-2.9%
Q1 2009-1.0%
Q1 2012-1.2%
Q4 2009-0.2%
Q4 2011-0.2%
Q3 2009-3.3%
Q3 2010-3.3%
Q4 2010-3.3%
Q2 2010-1.8%
Q2 2009-1.8%

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