Enpro Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 20, 2024 at 06:30 am EST
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Enpro Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 249.1 million compared to USD 271.9 million a year ago. Net loss was USD 4.9 million compared to net income of USD 127 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to USD 2.76 a year ago. Diluted loss per share from continuing operations was USD 0.23 compared to USD 2.76 a year ago. Basic loss per share was USD 0.23 compared to basic earnings per share of USD 6.11 a year ago. Diluted loss per share was USD 0.23 compared to diluted earnings per share of USD 6.11 a year ago.
For the full year, sales was USD 1,059.3 million compared to USD 1,099.2 million a year ago. Net income was USD 22.2 million compared to USD 205.1 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to USD 0.32 a year ago. Diluted earnings per share from continuing operations was USD 0.51 compared to USD 0.32 a year ago. Basic earnings per share was USD 1.06 compared to USD 9.86 a year ago. Diluted earnings per share was USD 1.05 compared to USD 9.83 a year ago.
Enpro, Inc. is an industrial technology company. The Company is focused on critical applications across many end-markets, including semiconductor, industrial process, commercial vehicle, sustainable power generation, aerospace, food and pharma, photonics and life sciences. The Company operates in two segments: Sealing Technologies and Advanced Surface Technologies. The Sealing Technologies segment includes three operating divisions: Garlock, Technetics and STEMCO, which serves various industries, including pharmaceutical, food and beverage, pulp and paper, metals and mining, marine, water/wastewater, chemical processing, and power generation markets. The Advanced Surface Technologies segment includes four operating businesses: Technetics Semi, LeanTeq, Alluxa, and NxEdge, which applies technologies, processes, and capabilities to deliver differentiated suites of products and services for the applications in markets.