Enpro Inc. Files Q3 2024 10-Q Report

TL;DR

Enpro's Q3 2024 10-Q is in. Check it for the latest financials.

AI Summary

Enpro Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the year. Key financial data and operational details for this period are presented, reflecting the company's performance and financial position.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of Enpro Inc., crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.

Key Players & Entities

• Enpro Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 20241105 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• npo-20240930.htm (10-Q) — 1512KB
• npo-2024930xex311q3.htm (EX-31.1) — 8KB
• npo-2024930xex312q3.htm (EX-31.2) — 8KB
• npo-2024930xex32q3.htm (EX-32) — 6KB
• 0001164863-24-000041.txt ( ) — 9060KB
• npo-20240930.xsd (EX-101.SCH) — 54KB
• npo-20240930_cal.xml (EX-101.CAL) — 101KB
• npo-20240930_def.xml (EX-101.DEF) — 282KB
• npo-20240930_lab.xml (EX-101.LAB) — 708KB
• npo-20240930_pre.xml (EX-101.PRE) — 488KB
• npo-20240930_htm.xml (XML) — 1653KB

Financial Statements

Item 1. Financial Statements ENPRO INC. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Quarters and Nine Months Ended September 30, 2024 and 2023 (in millions, except per share amounts) Quarters Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 260.9 $ 250.7 $ 790.3 $ 810.2 Cost of sales 150.6 151.1 454.8 479.7 Gross profit 110.3 99.6 335.5 330.5 Operating expenses: Selling, general and administrative 71.7 65.6 219.4 210.3 Goodwill impairment — — — 60.8 Other 4.5 2.1 6.0 3.1 Total operating expenses 76.2 67.7 225.4 274.2 Operating income 34.1 31.9 110.1 56.3 Interest expense ( 10.4 ) ( 10.8 ) ( 31.4 ) ( 34.9 ) Interest income 1.4 3.7 4.7 11.3 Other expense ( 1.1 ) ( 1.9 ) ( 8.7 ) ( 4.3 ) Income from continuing operations before income taxes 24.0 22.9 74.7 28.4 Income tax expense ( 4.2 ) ( 14.7 ) ( 15.7 ) ( 17.0 ) Income from continuing operations 19.8 8.2 59.0 11.4 Income from discontinued operations, including gain on sale, net of tax — — — 11.4 Net income 19.8 8.2 59.0 22.8 Less: net loss attributable to redeemable non-controlling interests — ( 0.1 ) — ( 4.3 ) Net income attributable to Enpro Inc. $ 19.8 $ 8.3 $ 59.0 $ 27.1 Comprehensive income (loss) $ 29.1 $ ( 3.3 ) $ 56.7 $ 23.5 Less: comprehensive loss attributable to redeemable non-controlling interests — ( 0.1 ) — ( 4.3 ) Comprehensive income (loss) attributable to Enpro Inc. $ 29.1 $ ( 3.2 ) $ 56.7 $ 27.8 Income attributable to Enpro Inc. common shareholders: Income from continuing operations, net of tax $ 19.8 $ 8.3 $ 59.0 $ 15.7 Income from discontinued operations, including gain on sale, net of tax — — — 11.4 Net income attributable to Enpro Inc. $ 19.8 $ 8.3 $ 59.0 $ 27.1 Basic earnings per share attributable to Enpro Inc.: Continuing operations $ 0.94 $ 0.40 $ 2.82 $ 0.75 Discontinued operations — — — 0.55 Net income per share $ 0.94 $ 0.40 $ 2.82 $ 1.30 Diluted earnings per share attributable to Enpro Inc.: Continuing operati

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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View this 10-Q filing on SEC EDGAR