Enpro Inc. · NYSE:NPO
Enpro — Sidoti September 2023 Small Cap Conference
19 slides from Enpro's conference presentation, Sep 20, 2023
Slide 1: Investor Presentation
Investor Presentation Sidoti Small Cap Conference September 20, 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: Best-in Class Portfolio of Leading-Edge Businesses
Enpro (NYSE: NPO) | Best-in Class Portfolio of Leading-Edge Businesses June 2023 YTD Revenue Contribution Sales by Segment Sales by Channel Sales by Geography Sales by Market 13 Headquarters Principal Global Charlotte, Manufacturing 46% Employees NC and Service 54% ~3,500 Facilities Financial Overvi
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 ✓ Investing in multiple sources of ✓ Net debt to TTM adjusted EBITDA long-term or
Slide 9: Balance Sheet, Cash Flow & Capital Allocation
Balance Sheet, Cash Flow & Capital Allocation $ in millions Net Leverage Commentary Reported June 30, 2023 Revolving Credit Facility $ — • Strong balance sheet with ample liquidity Term Loans(1,2) $ 436 • Free cash flow* for the six months ended June 30, 2023 Senior Notes(1) $ 350 was $66.6M, up fro
Slide 10: 2023 Guidance
2023 Guidance Previous 2023 Current 2023 Guidance* Guidance* Assumptions (at August 8, 2023) (at May 2, 2023) Revenue Flat – Low Single Flat ~$95-96M Growth Digit Growth Depreciation and Amortization Adjusted ~$32-34M $248M – $260M $248M – $256M EBITDA** Net Interest Expense 25% Adjusted Normalized
Slide 11: Appendix
Appendix Enpro Investor Presentation September 2023 11
Slide 12: Reconciliation of LTM Results
Reconciliation of LTM Results EnPro Industries, Inc. Adjusted Adjusted ($ in millions) Revenue EBITDA EBITDA Margin Six Months Ended June 30, 2023 $ 559.5 $ 133.4 23.8% Plus: Year Ended December 31, 2022 1,099.2 257.4 23.4% Less: Six Months Ended June 30, 2022 547.2 132.6 24.2% LTM Ended June 30, 20
Slide 13: Consolidated Adjusted EBITDA (1/2)
Consolidated Adjusted EBITDA (1/2) For the Year Ended December 31, 2022 (In Millions) 2022 1Non-controlling interest compensation allocation Income from continuing operations attributable to EnPro Industries, Inc., net represents compensation expense associated with a of tax $ 6.7 portion of the rol
Slide 14: Consolidated Adjusted EBITDA (2/2)
Consolidated Adjusted EBITDA (2/2) For the Quarters and Six Months Ended June 30, 2023 and 2022 (In Millions) Quarters Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Income (loss) from continuing operations attributable to EnPro Industries, Inc. $ (18.6) $ 26.1 $ 7.4 $ 38.0 Net income
Slide 15: Segment Information (1/2)
Segment Information (1/2) For the Quarters and Six Months Ended June 30, 2023 and 2022 (In Millions) Reconciliation of Adjusted Segment EBITDA to Income (Loss) from Continuing Operations Attributable to EnPro Industries, Inc. Quarters Ended Six Months Ended Sales June 30, June 30, Quarters Ended Six
Slide 16: Segment Information (2/2)
Segment Information (2/2) For the Quarters and Six Months Ended June 30, 2023 and 2022 (In Millions) Quarter Ended June 30, 2022 Quarter Ended June 30, 2023 Advanced Advanced Sealing Surface Total Sealing Surface Total Technologies Technologies Segments Technologies Technologies Segments Acquisition
Slide 17: Consolidated Adjusted Net Income
Consolidated Adjusted Net Income (In Millions, Except Per Share Data) Quarters Ended June 30, (In Millions, Except Per Share Data) Six Months Ended June 30, 2023 2022 2023 2022 Average Average Average Average common common common common shares shared shares shared outstanding, Per outstanding, Per o
Slide 18: Free Cash Flow
Free Cash Flow (In Millions) Free Cash Flow - Six Months Ended June 30, 2023 Net cash provided by operating activities $ 78.5 Purchases of property, plant, and equipment (11.9) $ 66.6 Free Cash Flow - Six Months Ended June 30, 2022 Net cash provided by operating activities $ 63.0 Purchases of proper
Slide 19: Thank you
Thank you