Slide 1: Second Quarter 2024 Earnings Review
Second Quarter 2024 Earnings Review August 6, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements in this presentation that express a belief, expectation or intention, including the 2024 guidance and other statements that are not historical fact, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They involve a number
Slide 3: Second Quarter 2024 Update
Second Quarter 2024 Update Eric Vaillancourt President & Chief Executive Officer
Slide 4: Overview of Financial Results
Overview of Financial Results Joe Bruderek Executive Vice President & Chief Financial Officer
Slide 5: Second Quarter 2024 Financial Performance
Second Quarter 2024 Financial Performance $ in millions, except per share data Sales Gross Profit & Margin Adjusted EBITDA* & Margin* Adjusted Diluted EPS* -1.8% +230 bps +14.0% +13.7% • Overall decline driven primarily by • Gross margin expansion driven by • Adjusted EBITDA* of $74.0 million • Adju
Slide 6: Sealing Technologies – Second Quarter 2024 Performance
Sealing Technologies – Second Quarter 2024 Performance $ in millions Sales Adjusted EBITDA & Margin +4.1% +16.2% • Sales increase driven by strong demand in the aerospace and • Adjusted segment EBITDA of $65.4 million increased 16.2% nuclear markets, the contribution from AMI, strategic pricing comp
Slide 7: Advanced Surface Technologies – Second Quarter 2024 Performance
Advanced Surface Technologies – Second Quarter 2024 Performance $ in millions Sales Adjusted EBITDA & Margin -12.2% -20.7% • Sales decrease as soft semiconductor capital equipment • Adjusted segment EBITDA decrease driven primarily by the spending more than offset growth in our precision cleaning ov
Slide 8: Balance Sheet, Cash Flow & Capital Allocation
Balance Sheet, Cash Flow & Capital Allocation $ in millions Net Leverage Commentary Reported June 30, 2024 • Strong balance sheet; ample liquidity consisting of Credit Facility $ 18 $175.9M in cash and cash equivalents and $372.0M3 available under revolver Term Loans(1,2) $ 295 Senior Notes(1) $ 350
Slide 9: 2024 Guidance
2024 Guidance 2024 Guidance Prior 2024 Guidance (as of August 6, 2024) (as of May 7, 2024) ~$99-101M Revenue Low-Mid Single Digit Approximately Flat Depreciation Growth(1) Growth and Amortization(2) ~$60M Capital Expenditures Adjusted $260M – $270M $260M – $280M EBITDA*(1) ~$33-35M Net Interest Expe
Slide 10: Closing Comments
Closing Comments Eric Vaillancourt President & Chief Executive Officer
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Slide 12: Appendix
Appendix ©
Slide 13: Attractive Portfolio of High-Margin Businesses
Enpro Inc. (NYSE: NPO) | Attractive Portfolio of High-Margin Businesses Company Overview 2024 YTD Revenue Contribution Sales by Segment Sales by Channel Sales by Geography Sales by Market Headquarters Charlotte, NC Principal Manufacturing 13 Facilities Global Employees ~3,500 Financial Overview Mark
Slide 14: Reconciliation of LTM Results
Reconciliation of LTM Results Enpro Inc. Adjusted Adjusted ($ in millions) Revenue EBITDA EBITDA Margin Six Months Ended June 30, 2024 $ 529.4 $ 132.5 25.0% Plus: Year Ended December 31, 2023 1,059.3 238.0 22.5% Less: Six Months Ended June 30, 2023 559.5 133.4 23.8% LTM Ended June 30, 2024 $ 1,029.2
Slide 15: Consolidated Adjusted EBITDA (1/2)
Consolidated Adjusted EBITDA (1/2) For the Year Ended December 31, 2023 (In Millions) 2023 Income from continuing operations attributable to Enpro Inc., net of tax $ 10.8 Net income attributable to redeemable non-controlling interests (3.9) 6.9 Adjustments to arrive at earnings before interest, inco
Slide 16: Consolidated Adjusted EBITDA (2/2)
Consolidated Adjusted EBITDA (2/2) For the Quarters and Six Months Ended June 30, 2024 and 2023 Quarters Ended June 30, Six Months Ended June, (In Millions) 2024 2023 2024 2023 Income (loss) from continuing operations attributable to Enpro Inc., net of tax $ 26.7 $ (18.6) $ 39.2 $ 7.4 Net loss attri
Slide 17: Segment Information (1/2)
Segment Information (1/2) For the quarters and Six Months Ended June 30, 2024 and 2023 (In Millions) Reconciliation of Income (Loss) from Continuing Operations Attributable to Enpro Inc., Net of Tax to Adjusted Segment EBITDA Quarters Ended Six Months Ended Sales June 30, June 30, Quarters Ended Six
Slide 18: Segment Information (2/2)
Segment Information (2/2) For the quarters and Six Months Ended June 30, 2024 and 2023 (In Millions) Quarter Ended June 30, 2023 Quarter Ended June 30, 2024 Advanced Advanced Sealing Surface Total Sealing Surface Total Technologies Technologies Segments Technologies Technologies Segments Acquisition
Slide 19: 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, 2024 2023 2024 2023 Average Average Average Average common common common common shares shared shares shared outstanding, Per outstanding, Per o
Slide 20: Free Cash Flow
Free Cash Flow (In Millions) Free Cash Flow - Six Months Ended June 30, 2024 Net cash provided by operating activities $ 49.5 Purchases of property, plant, and equipment (13.1) Payments for capitalized internal-use software (0.9) $ 35.5 Free Cash Flow - Six Months Ended June 30, 2023 Net cash provid