EnPro Industries (NPO) Tops Q1 EPS by 43c, Revenues Beat; Raises FY21 EPS/Revenues Guidance

May 7, 2021 6:37 AM EDT

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EnPro Industries (NYSE: NPO) reported Q1 EPS of $1.37, $0.43 better than the analyst estimate of $0.94. Revenue for the quarter came in at $279.3 million versus the consensus estimate of $256.53 million.

  • 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
  • Sales were $279.3 million, decreasing 1.2% as a result of divestitures in 2020; organic sales increased 5.5%
  • Updating 2021 guidance ranges: 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

“We are pleased to have started the new year with such a strong financial performance that resulted in adjusted EBITDA growth of 28.1% and margin expansion of approximately 420 basis points, ” said Marvin Riley, President and Chief Executive Officer. “We are excited to have unveiled our new brand image in recognition of our commitment to using materials science to push boundaries in semiconductor, life sciences and other industrial technology-enabled sectors. The new brand emphasizes the ongoing transformation of our business to serve faster growing markets and to generate higher returns on invested capital while embracing our core values and company purpose.”

Mr. Riley continued, “First quarter results reflect improved demand, strong cost management and the benefits of increased exposure to higher-margin and faster-growth businesses resulting from recent portfolio reshaping actions. The strong performance of all three segments contributed to year-over-year adjusted EBITDA improvement.”

GUIDANCE:

EnPro Industries sees FY2021 EPS of $4.74-$5.08, versus the consensus of $4.56. EnPro Industries sees FY2021 revenue of $1.05-1.1 billion, versus the consensus of $1.07 billion.

For earnings history and earnings-related data on EnPro Industries (NPO) click here.



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