EnPro reports Q2 adjusted EPS $2.03, consensus $2.10

Reports Q2 revenue $288.1M, consensus $282.6M. “Enpro (NPO) delivered another strong quarter of sales growth driven by a double-digit revenue increase in AST and continued momentum in Sealing Technologies,” said Eric Vaillancourt, President and Chief Executive Officer. “We also continued to invest with discipline in high return growth initiatives. These investments, coupled with foreign exchange headwinds, impacted operating leverage in the quarter, particularly in AST. We enter the second half of the year well positioned, with continued focus on agile execution throughout the organization.” Vaillancourt continued, “The company is pleased to increase its full-year guidance driven by the strength we currently see in aerospace, general industrial and food and pharma orders, as well as an incrementally positive sales outlook for AST, for the second half of the year. Enpro’s recently successful notes offering and increased revolver capacity, along with our continued strong free cash flow generation, provide the company with ample financial flexibility to execute our Enpro 3.0 growth strategy and unlock increasing value for all stakeholders.”