Enpro Inc. · NYSE:NPO
Enpro — Oppenheimer 18th Annual Industrial Growth Conference (May 2023)
21 slides from Enpro's conference presentation, May 9, 2023
Slide 1: Investor Presentation
Investor Presentation Oppenheimer 18th Annual Industrial Growth Conference May 9, 2023 Enpro Investor Presentation May 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements in this presentation that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They involve a number of risks and uncertainties that
Slide 3: Positioned to Deliver Significant Shareholder Value
Positioned to Deliver Significant Shareholder Value 1 2 3 Transformed portfolio to accelerate Enhancing aftermarket Increasing cash flow return on growth in leading-edge, industrial exposure with critical investment through portfolio technology-related businesses with high applications, serving fast
Slide 4: Enpro (NYSE: NPO) | Attractive Portfolio of Leading-Edge Businesses
Enpro (NYSE: NPO) | Attractive Portfolio of Leading-Edge Businesses Q1 2023 Revenue Contribution Sales by Segment Sales by Channel Sales by Geography Sales by Market3 13 Headquarters Principal Global Charlotte, Manufacturing 47% Employees NC and Service 53% ~3,500 Facilities Financial Overview Marke
Slide 5: A Strong Foundation for Our Future
A Strong Foundation for Our Future Strategic Actions Position Enpro Portfolio with Industry-Leading Profitability in Secular Growth Markets Fairbanks Heavy-Duty Truck Bushing Block Air Springs Polymer Compressor GGB GPT Morse Product Lines Closed 4Q20 Closed 4Q20 Components Products Int’l (CPI) Clos
Slide 6: Sealing Technologies
Sealing Technologies Profile Select Products • Composed of Garlock, Stemco, and Technetics divisions • Enduring, applied engineering expertise using leading-edge technologies and processes • Strong aftermarket in critical applications that safeguard environments • Extensive proprietary knowledge • D
Slide 7: Advanced Surface Technologies
Advanced Surface Technologies Profile Solutions • Composed of our semiconductor – NxEdge – Technetics Semi – LeanTeq – and innovative optical filter – Alluxa – businesses • Utilizes proprietary technologies and processes with highly differentiated products and solutions • Vertical integration strate
Slide 8: Disciplined, Value-Enhancing Capital Allocation Strategy
Disciplined, Value-Enhancing Capital Allocation Strategy Investing in Long-Term Organic Disciplined and Strong Balance Sheet Growth while Pursuing Balanced Capital Supports Optionality Strategic Acquisitions Allocation ✓ Net debt to TTM adjusted EBITDA ✓ Investing in multiple source of ✓ Paid $6.2 m
Slide 9: Balance Sheet, Cash Flow & Capital Allocation
Balance Sheet, Cash Flow & Capital Allocation $ in millions Net Leverage Commentary Reported March 31, 2023 • Strong balance sheet; ample liquidity consisting of Credit Facility $ — $336.1M in cash, $35.0M in highly liquid short-term investments and $389.2M4 available under revolving Term Loans1,2 $
Slide 10: 2023 Guidance
2023 Guidance 2023 Guidance* Assumptions (As of 5/2/23) Revenue Growth Flat – Low Single ~$100M Digit Growth Depreciation and Amortization $248M – $260M ~$35-$40M Adjusted EBITDA** Net Interest Expense 25% Adjusted Diluted Normalized Tax Rate $6.45 – $7.05 EPS** (from 27% last year) * Full-year guid
Slide 11: 2023 ESG Initiatives
2023 ESG Initiatives Measured Baselines at Further our actionable Continue corporate-wide Primary Facilities and efforts on Diversity, Equity & ESG training and increased Creating a Comprehensive Inclusion communication Climate Action Plan Rolling out McKinsey's • • Continue to expand Learning • Col
Slide 12: At Enpro, we empower technology, with purpose.
At Enpro, we empower technology, with purpose. Our customers rely on us to elevate their applications and accelerate their competitive edge through a suite of advanced technologies and critical solutions to meet their most challenging needs. By leveraging decades of experience and deep technical exp
Slide 13: Appendix
Appendix Enpro Investor Presentation May 2023 13
Slide 14: Reconciliation of LTM Results
Reconciliation of LTM Results EnPro Industries, Inc. Adjusted Adjusted ($ in millions) Revenue EBITDA EBITDA Margin Three Months Ended March 31, 2023 $ 282.6 $ 68.6 24.3% Plus: Year Ended December 31, 2022 1,099.2 257.4 23.4% Less: Three Months Ended March 31, 2022 270.1 59.0 21.8% LTM Ended March 3
Slide 15: Consolidated Adjusted EBITDA (1/2)
Consolidated Adjusted EBITDA (1/2) For the Quarters and Year Ended December 31, 2022 (In Millions) Year Ended December 31, 2022 Income (loss) from continuing operations attributable to EnPro Industries, Inc. $ 6.7 Net income (loss) attributable to redeemable non-controlling interests (2.8) Income (l
Slide 16: Consolidated Adjusted EBITDA (2/2)
Consolidated Adjusted EBITDA (2/2) For the Three Months Ended March 31, 2023 and 2022 (In Millions) Three Months Ended March 31, 2023 2022 Net income from continuing operations attributable to EnPro Industries, Inc., net of tax $ 26.0 $ 11.9 Net income attributable to redeemable non-controlling inte
Slide 17: Segment Information (1/2)
Segment Information (1/2) For the Three Months Ended March 31, 2023 and 2022 Reconciliation of Adjusted Segment EBITDA to Income (Loss) from Continuing Operations Attributable to (In Millions) EnPro Industries, Inc. 2023 2022 Sales Income (loss) from continuing operations attributable to EnPro Indus
Slide 18: Segment Information (2/2)
Segment Information (2/2) For the Three Months Ended March 31, 2023 and 2022 (In Millions) Three Months Ended March 31, 2022 Three Months Ended March 31, 2023 Advanced Sealing Surface Total Advanced Technologies Technologies Segments Sealing Surface Total Acquisition and divestiture expenses $ — $ 0
Slide 19: Consolidated Adjusted Net Income
Consolidated Adjusted Net Income (In Millions, Except Per Share Data) Three Months Ended March 31, 2023 2022 Average Average common common shares shared outstanding, Per outstanding, Per $ diluted Share $ diluted Share Income from continuing operations attributable to EnPro Industries, Inc., net of
Slide 20: Free Cash Flow
Free Cash Flow (In Millions) Free Cash Flow - Three Months Ended March 31, 2023 Net cash provided by operating activities of continuing operations $ 26.4 Purchases of property, plant, and equipment (5.0) Free cash flow $ 21.4 Free Cash Flow - Three Months Ended March 31, 2022 Net cash provided by op
Slide 21: Thank you
Thank you
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