NYSE$NPO

Enpro Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Enpro Industries reported results for Q4 2019

Enpro Industries reported a decrease in sales by 1.4% to $286.5 million, but an increase in segment profit by 145.2% to $28.2 million for the quarter. Adjusted EBITDA increased 27.7% to $43.3 million. The company completed the divestiture of its Fairbanks Morse division and provided 2020 guidance.

  • Sales decreased 1.4% to $286.5 million for the quarter.
  • Segment profit increased 145.2% to $28.2 million for the quarter.
  • Adjusted EBITDA increased 27.7% to $43.3 million for the quarter.
  • Adjusted diluted earnings per share from continuing operations increased 54% to $0.57 for the quarter.

Headline financials

Total Revenue

$287M

Previous: $381M-24.9%
EPS (adj)

$0.57

Previous: $0.98-41.8%
Adjusted EBITDA

$43.3M

No prior period
Adjusted EBITDA Margin

15.1%

No prior period
Capital Expenditures

-$2.2M

Previous: $16.9M-113.0%
Net Income

$2.8M

Previous: -$22.1M+112.7%
Operating Income

-$9.8M

Previous: $19M-151.6%
Gross Profit

$98.1M

Previous: $114M-13.9%
Cash & Equivalents

$121M

Previous: $130M-6.5%
Total Assets

$2.04B

Previous: $1.72B+18.6%
Stock-Based Comp

$1.8M

Previous: $1.7M+5.9%

Revenue & EPS history

Enpro · Revenue · Quarterly

$287M

Q4 2019-24.9%vs Q4 2018
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Enpro · $288M total across 2 segments · Q4 2019

  • Sealing Technologies
    $221M
  • Advanced Surface Tech
    $66.9M

Forward guidance

EnPro Industries expects current trends to continue through the first half of the year in most markets and continued weakness in the heavy-duty truck market. Adjusted EBITDA for 2020 is expected to be between $180 million and $190 million, with 18-20% occurring in the first quarter, and 2020 adjusted diluted earnings per share from continuing operations to be between $2.82 and $3.14.

Tailwinds

  • Cost reductions across EnPro
  • Increased earnings in semiconductor businesses
  • Increased earnings in food and pharma businesses
  • Adjusted EBITDA for 2020 is expected to be between $180 million and $190 million
  • 2020 adjusted diluted earnings per share from continuing operations to be between $2.82 and $3.14

Headwinds

  • Current trends continue through the first half of the year in most markets
  • Continued weakness throughout the year in the heavy-duty truck market.
  • Anticipated impact of the Coronavirus
  • 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

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 Q4 2019

Historical avgQ4 2019

+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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