Enpro Inc. Files Q2 2024 10-Q Report

TL;DR

Enpro Inc. dropped its Q2 2024 10-Q. Check financials.

AI Summary

Enpro Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The company's fiscal year ends on December 31st, and this filing covers the second quarter of 2024. Key financial data and operational details are provided for investors and regulatory bodies.

Why It Matters

This 10-Q filing provides investors with a detailed look at Enpro Inc.'s financial health and operational performance for the second quarter of 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not indicate any immediate or unusual risks.

Key Numbers

• 2024 Q2 — Reporting Period (Covers the second quarter of 2024.)
• 1231 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)

Key Players & Entities

• Enpro Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240806 (date) — Filing date of the report
• 0001164863 (company) — Central Index Key for Enpro Inc.

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value NPO New York Stock Exchange

Filing Documents

• npo-20240630.htm (10-Q) — 1460KB
• npo-2024630xex311q2.htm (EX-31.1) — 8KB
• npo-2024630xex312q2.htm (EX-31.2) — 8KB
• npo-2024631xex32q2.htm (EX-32) — 6KB
• 0001164863-24-000034.txt ( ) — 8804KB
• npo-20240630.xsd (EX-101.SCH) — 53KB
• npo-20240630_cal.xml (EX-101.CAL) — 100KB
• npo-20240630_def.xml (EX-101.DEF) — 279KB
• npo-20240630_lab.xml (EX-101.LAB) — 699KB
• npo-20240630_pre.xml (EX-101.PRE) — 484KB
• npo-20240630_htm.xml (XML) — 1562KB

Financial Statements

Item 1. Financial Statements ENPRO INC. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Quarters and Six Months Ended June 30, 2024 and 2023 (in millions, except per share amounts) Quarters Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 271.9 $ 276.9 $ 529.4 $ 559.5 Cost of sales 152.9 162.1 304.2 328.6 Gross profit 119.0 114.8 225.2 230.9 Operating expenses: Selling, general and administrative 70.3 73.2 147.7 144.7 Goodwill impairment — 60.8 — 60.8 Other 0.7 0.2 1.5 1.0 Total operating expenses 71.0 134.2 149.2 206.5 Operating income (loss) 48.0 ( 19.4 ) 76.0 24.4 Interest expense ( 10.7 ) ( 12.4 ) ( 21.0 ) ( 24.1 ) Interest income 1.2 3.8 3.3 7.6 Other expense ( 2.1 ) ( 0.6 ) ( 7.6 ) ( 2.4 ) Income (loss) from continuing operations before income taxes 36.4 ( 28.6 ) 50.7 5.5 Income tax benefit (expense) ( 9.7 ) 5.8 ( 11.5 ) ( 2.3 ) Income (loss) from continuing operations 26.7 ( 22.8 ) 39.2 3.2 Income from discontinued operations, including gain on sale, net of tax — — — 11.4 Net income (loss) 26.7 ( 22.8 ) 39.2 14.6 Less: net loss attributable to redeemable non-controlling interests — ( 4.2 ) — ( 4.2 ) Net income (loss) attributable to Enpro Inc. $ 26.7 $ ( 18.6 ) $ 39.2 $ 18.8 Comprehensive income (loss) $ 18.6 $ ( 17.7 ) $ 27.6 $ 26.8 Less: comprehensive loss attributable to redeemable non-controlling interests — ( 4.2 ) — ( 4.2 ) Comprehensive income (loss) attributable to Enpro Inc. $ 18.6 $ ( 13.5 ) $ 27.6 $ 31.0 Income (loss) attributable to Enpro Inc. common shareholders: Income (loss) from continuing operations, net of tax $ 26.7 $ ( 18.6 ) $ 39.2 $ 7.4 Income from discontinued operations, including gain on sale, net of tax — — — 11.4 Net income (loss) attributable to Enpro Inc. $ 26.7 $ ( 18.6 ) $ 39.2 $ 18.8 Basic earnings (loss) per share attributable to Enpro Inc.: Continuing operations $ 1.27 $ ( 0.89 ) $ 1.87 $ 0.35 Discontinued operations — — — 0.55 Net income (loss) per share $ 1.27

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1. Overview and Basis of Presentation Overview Enpro Inc. ("we," "us," "our," "Enpro," or the "Company") is a leading-edge industrial technology company focused on critical applications across a diverse group of growing end markets such as semiconductor, industrial process, aerospace, food, photonics, biopharmaceuticals and life sciences. Enpro is a leader in applied engineering and designs, develops, manufactures, and markets proprietary, value-added products and solutions that safeguard a variety of critical environments. Over the past several years, we have executed several strategic initiatives to create a portfolio of businesses that offer proprietary, industrial technology-related products and solutions with high barriers to entry, compelling margins, strong cash flow, and recurring aftermarket revenue in markets with favorable secular tailwinds. Basis of Presentation The accompanying interim consolidated financial statements are unaudited, and certain related information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been omitted in accordance with Rule 10-01 of Regulation S-X. They were prepared following the same policies and procedures used in the preparation of our annual financial statements. The accompanying interim consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of results for the periods presented. The Consolidated Balance Sheet as of December 31, 2023 was derived from the audited financial statements included in our annual report on Form 10-K for the year ended December 31, 2023. The results of operations for the interim periods are not necessarily indicative of the results for the fiscal year. These consolidated financial statements should be read in conjunction with our

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