ENPRO INDUSTRIES Reports Q2 Earnings Results for FY2023 Period Ending June 30
August 10, 2023
🌥️Earnings Overview
On August 8 2023, ENPRO INDUSTRIES ($NYSE:NPO) announced their FY2023 Q2 earnings results for the period ending June 30 2023. The total revenue for the quarter had decreased 16.9% to USD 276.9 million, in comparison to the same quarter of the prior year. The net income for the quarter had a decrease of 51.7%, decreasing from 33.1 million to -18.6 million.
Stock Price
The company’s stock opened at $130.5 and closed at $126.0, a drop of 8.7% from its prior closing price of 138.0. This decline in the company’s stock price can be partially attributed to the challenging market conditions throughout the period. This increase in operating income was primarily due to cost-cutting initiatives implemented by the company over the course of the fiscal year, as well as increased efficiency and productivity across its various business operations. The company believes that this buyback program will create value for shareholders and enhance overall shareholder returns.
Overall, ENPRO INDUSTRIES has had a successful fiscal year despite the challenging market conditions. The company’s strong revenue and EPS growth, coupled with cost-savings initiatives and a new buyback program, are a testament to the company’s commitment to creating long-term value for its shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Enpro Industries. More…
| Total Revenues | Net Income | Net Margin |
| 996.7 | 174.6 | 4.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Enpro Industries. More…
| Operations | Investing | Financing |
| 138.2 | 247.4 | -235.5 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Enpro Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.63k | 1.2k | 67.75 |
Key Ratios Snapshot
Some of the financial key ratios for Enpro Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -3.7% | 66.4% | 1.8% |
| FCF Margin | ROE | ROA |
| 10.6% | 0.8% | 0.4% |
Analysis
Upon analysis, GoodWhale has determined that ENPRO INDUSTRIES has a strong dividend score, medium profitability score, and a weak asset score according to the Star Chart. Its health score of 8/10 is a reflection of its cashflows and debt, indicating that it can ride out any crisis without the risk of bankruptcy. Because of these factors, ENPRO INDUSTRIES can be classified as a ‘cow’ — a term we use to describe companies that have consistent and sustainable dividends. We believe that such a company would be attractive to value investors, as well as those who are looking for a steady and reliable payout. Dividend investors may also be interested in this type of company, as the dividends are expected to remain consistent over time. Additionally, those who are looking for long-term investments may be drawn to this company due to its strong dividend track record. More…
Peers
The company has a lot of competition, but it is still able to thrive.
– Parker Hannifin Corp ($NYSE:PH)
Parker Hannifin Corp is a diversified industrial company that manufactures motion and control technologies for a variety of industries. Its products include hydraulic and pneumatic components, seals and sealing systems, fluid power systems, and electromechanical components. The company has a market cap of 38.39B as of 2022 and a Return on Equity of 13.12%. Parker Hannifin is a global leader in motion and control technologies, providing solutions that increase productivity, energy efficiency, and safety for a variety of industries.
– Altra Industrial Motion Corp ($NASDAQ:AIMC)
Altria Industrial Motion Corp is a US-based company that manufactures and sells a variety of industrial products, including bearings, gear drives, and other power transmission products. The company has a market cap of 3.74B as of 2022 and a return on equity of 3.22%. Altria Industrial Motion is a publicly traded company listed on the New York Stock Exchange.
– TriMas Corp ($NASDAQ:TRS)
TriMas Corp is a publicly traded company with a market capitalization of $1.04 billion as of 2022. The company has a return on equity of 9.0%. TriMas Corp is engaged in the design, manufacture, and distribution of engineered and applied products for the commercial, industrial, and consumer end markets worldwide. The company operates in three segments: Packaging, Aerospace, and Engineered Components.
Summary
ENPRO INDUSTRIES saw a 16.9% decrease in total revenue for their FY2023 Q2 earnings, compared to the same period last year. As a result, net income also decreased by 51.7%, amounting to a loss of USD -18.6 million. Investors should take note of these figures when evaluating the company as a potential investment.
Although the near-term outlook may be challenging, they should also consider the potential for ENPRO INDUSTRIES to rebound and make a comeback in the future. It is important to assess the company’s strengths and weaknesses, as well as its ability to manage through difficult times before investing.
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