EnPro Industries Misses Analyst Expectations In Third Quarter

10/31/17

EnPro Industries, an industrial engineering products manufacturer reported third quarter earnings Monday afternoonthat missed analyst’s projections.

Earnings per share for Enpro came in at 73 cents per share, compared to analyst’s predictions of 89 cents per share. The company’s net sales were $343.7 million, below consensus estimate of $356.5 million.

This is the fifth consecutive quarter of weaker-than-expected bottom-line results for the Charlotte-based company.

Despite a poor earnings report, the company’s revenue for the quarter rose 17.4 percent to $343.7 million, up from $292.7 million last year.

“I am very pleased with the positive sales and earnings growth experienced in all of our segments in the third quarter. We continue to experience strengthening conditions in several of our core end markets, and our teams are executing well on their defined growth strategies,” said Chief Executive Officer Steve Macadam in a statement.

Macadam also noted the adverse impact the hurricanes had on several of the facilities, saying, “We are encouraged by the strong performance in both segments despite lost or deferred volumes as a result of the storms.”

Following the earnings release, Enpro raised its adjusted EBITDA guidance to $207 million to $212 million from the previous projection of $200 million to $205 million, due to current market strength and forecasts.

Enpro stock was trading at $81.60 Monday morning, up 4.94 percent from opening.

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