NYSE$NPO

Enpro Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Enpro reported strong second quarter results, driven by portfolio reshaping, organic growth, and cost discipline, leading to improved operating leverage and increased full-year guidance.

Enpro Industries reported a strong second quarter with sales increasing by 20.9% to $298.6 million and adjusted EBITDA increasing by 52.5% to $57.2 million. The company's adjusted EBITDA margin improved by 400 bps to 19.2%. Based on these results, Enpro is raising its full-year guidance for sales, adjusted EBITDA, and adjusted diluted earnings per share.

  • Sales increased 20.9% to $298.6 million, with organic sales up 27.1%.
  • Adjusted EBITDA rose 52.5% to $57.2 million, with a margin of 19.2%, a 400 bps improvement.
  • Diluted earnings per share from continuing operations was $1.41, compared to a loss of $0.16 year-over-year.
  • Adjusted diluted earnings per share increased 77.3% to $1.56.

Headline financials

Total Revenue

$299M

Previous: $247M+20.9%
EPS (adj)

$1.56

Previous: $0.54+188.9%
Adjusted EBITDA

$57.2M

Previous: $37.5M+52.5%
Adjusted EBITDA Margin

19.2%

Previous: 15.2%+26.3%
Capital Expenditures

-$10.2M

Previous: -$8.9M-14.6%
Free Cash Flow

$19.1M

Previous: -$15.4M+224.0%
Net Income

$29.3M

Previous: -$6.5M+550.8%
Operating Income

$31.9M

Previous: $1.8M+1672.2%
Gross Profit

$117M

Previous: $82.5M+41.8%
Cash & Equivalents

$262M

Previous: $424M-38.3%
Total Assets

$2.13B

Previous: $2.06B+3.5%
Stock-Based Comp

$1.6M

Previous: $1.5M+6.7%

Revenue & EPS history

Enpro · Revenue · Quarterly

$299M

Q2 2021+20.9%vs Q2 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Enpro · $222M total across 2 segments · Q2 2021

  • Sealing Technologies
    $163M-14.4%
  • Advanced Surface Tech
    $59.2M+1.0%

Forward guidance

Enpro Industries expects 2021 sales to be in the range of $1.075 billion to $1.125 billion, adjusted EBITDA to be in the range of $200 million to $210 million, and adjusted diluted earnings per share from continuing operations to be in the range of $5.16 to $5.50.

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 Q2 2021

Historical avgQ2 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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