EnPro Industries Q1 Results Top Estimates; Trims FY22 Adj. EPS Outlook

(RTTNews) - Industrial technology company EnPro Industries, Inc. (NPO) reported on Monday first-quarter net income attributable to the company declined to $16.2 million or $0.77 per share from $18.0 million or $0.87 per share lin the prior-year quarter.

Excluding items, adjusted net income for the quarter were $1.80 per share, compared to $1.37 per share in the year-ago quarter.

Net sales for the quarter grew 17.7 percent to $328.7 million from $279.3 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.53 per share on revenues of $298.23 million for the quarter. Analysts' estimates typically exclude special items.

Further, EnPro declared a regular quarterly dividend of $0.28 per share on April 29, 2022, payable June 15, 2022 to shareholders of record as of the close of business on June 1, 2022.

Looking ahead for fiscal 2022, the company now expects adjusted earnings in a range of $6.60 to $7.15 per share on revenue growth in the low double-digit range. Previously, the company expected adjusted earnings in a range of $6.70 to $7.25 per share on revenue growth in the low double-digit range.

Analysts expect earnings of $7.15 per share on revenues of $1.27 billion for the full year.