EnPro Industries (NPO) Misses Q1 EPS by 10c

EnPro Industries (NYSE: NPO) reported Q1 EPS of $0.85, $0.10 worse than the analyst estimate of $0.95. Revenue for the quarter came in at $368.8 million versus the consensus estimate of $353.77 million.

“Sales grew year-over-year in all of our divisions in the first quarter, and despite a challenging start to the year for profitability in the heavy-duty trucking portion of Sealing Products and in Power Systems, we are optimistic about our overall financial performance for the remainder of the year. We experienced strong performance in the balance of the company aided by favorable market conditions that continue to show signs of strength. Backlog in heavy-duty trucking heading into the second quarter was several million dollars higher than at the same time last year. In line with our expectations for Power Systems since the beginning of the year, we expect aftermarket parts and services to be higher in the second half of the year and margins on new engine sales to improve. We are also taking actions to mitigate the impact of rising commodity prices on our margins.

As usual, our guidance excludes impacts from future acquisitions, restructuring costs, the impact of changes driven by foreign exchange and any litigation or environmental charges. Given current macroeconomic forecasts and continued strength in most of our end markets, we are raising our guidance for the year. We expect 2018 consolidated sales to be up between 6% and 8% over our 2017 pro forma sales. We also expect adjusted EBITDA of between $224 and $230 million for the year,” said Mr. Macadam.

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

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