NYSE$NPO

Enpro Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Enpro reported strong second quarter results and raised guidance.

Enpro Industries reported strong second quarter results with sales of $333.3 million, a 11.6% increase compared to the prior-year period. Adjusted EBITDA increased 43.4% to $82.0 million, and adjusted EBITDA margin increased 540 bps to 24.6%. The company raised its full-year revenue growth guidance to low-to-mid double digits and adjusted EBITDA guidance to $270-$280 million.

  • Sales of $333.3 million increased 11.6%; organic sales increased 9.5%.
  • Net income attributable to EnPro Industries, Inc. was $33.1 million compared to $29.3 million last year.
  • Adjusted EBITDA increased 43.4% to $82.0 million; adjusted EBITDA margin increased 540 bps to 24.6%.
  • Adjusted diluted earnings per share increased 48.7% to $2.32 versus $1.56 last year.

Headline financials

Total Revenue

$333M

Previous: $299M+11.6%
EPS (adj)

$2.32

Previous: $1.56+48.7%
Adjusted EBITDA

$82M

Previous: $57.2M+43.4%
Adjusted EBITDA Margin

24.6%

Previous: 19.2%+28.1%
Capital Expenditures

-$8.5M

Previous: -$10.2M+16.7%
Free Cash Flow

$24.6M

Previous: $19.1M+28.8%
Net Income

$33.1M

Previous: $29.3M+13.0%
Operating Income

$49.7M

Previous: $31.9M+55.8%
Gross Profit

$131M

Previous: $117M+11.5%
Cash & Equivalents

$222M

Previous: $262M-15.2%
Total Assets

$2.81B

Previous: $2.13B+32.3%
Stock-Based Comp

$1.6M

Previous: $1.6M+0.0%

Revenue & EPS history

Enpro · Revenue · Quarterly

$333M

Q2 2022+11.6%vs Q2 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Enpro · $277M total across 2 segments · Q2 2022

  • Sealing Technologies
    $156M-4.1%
  • Advanced Surface Tech
    $122M+105.2%

Forward guidance

The company expects 2022 revenue growth to be in the low-to-mid double-digit range and is raising adjusted EBITDA guidance to be in the range of $270 million to $280 million. Adjusted diluted earnings per share is expected to be in the range of $6.80 to $7.30.

Tailwinds

  • Revenue growth expected to be in the low-to-mid double-digit range.
  • Adjusted EBITDA guidance increased to $270-$280 million.
  • Adjusted diluted earnings per share expected to be in the range of $6.80 to $7.30.

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 2022

Historical avgQ2 2022

+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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