Enpro Inc. · NYSE:NPO
Enpro — Oppenheimer 19th Annual Industrial Growth Conference 2024
19 slides from Enpro's conference presentation, May 9, 2024
Slide 1: Investor Presentation
Investor Presentation Oppenheimer 19th Annual Industrial Growth Conference May 9, 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 statem ents that are not historical fact, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They involve a number
Slide 3: Positioned to Deliver Significant Shareholder Value
Positioned to Deliver Significant Shareholder Value 1 2 3 Transformed portfolio to accelerate Increasing cash flow return on Strong aftermarket exposure growth in leading-edge, industrial investment through portfolio with critical applications, technology-related businesses with high reshaping actio
Slide 4: Enpro (NYSE: NPO) | Attractive Portfolio of Businesses
Enpro (NYSE: NPO) | Attractive Portfolio of Businesses Company Overview 2024 Revenue Contribution Sales by Segment Sales by Channel Sales by Geography Sales by Market Headquarters Charlotte, NC Principal Manufacturing 13 Facilities Global Employees ~3,400 Financial Overview Market-Cap1 $3.2B LTM Rev
Slide 5: 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 6: 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 7: Semiconductor Market Widely Expected to Double Over The Next Decade
Semiconductor Market Widely Expected to Double Over The Next Decade Semiconductor Industry Trends AST Semiconductor Strategy NxEdge – Technetics Semi – LeanTeq Chip Architectures Evolving and Increasing in Complexity Technology Differentiation Advanced Processing Nodes Enable Artificial Intelligence
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 Report ed March 31, 2024 • Strong balance sheet; ample liquidity consisting of Credit Facility $ 35 $163.9M in cash and $355.0M3 available under rev olver Term Loans(1,2) $ 297 • Free cash flow* for the three months
Slide 10: 2024 Guidance
2024 Guidance 2024 Guidance* Assumptions (as of May 7, 2024) Low – Mid Single ~$98-101M Revenue Growth Digit Growth Depreciation and Amortization*** ~$60M Capital Expenditures Adjusted EBITDA** $260M – $280M ~$31-33M Net Interest Expense Adjusted Diluted EPS** $7.00 – $7.80 25% Normalized Tax Rate *
Slide 11: Appendix
Appendix 11 11 May-June 2024 Investor Presentation
Slide 12: Reconciliation of LTM Results
Reconciliation of LTM Results Enpro Inc. Adjusted Adjusted ($ in millions) Revenue EBITDA EBITDA Margin Three Months Ended March 31, 2024 $ 257.5 $ 58.4 22.7% Plus: Year Ended December 31, 2023 1,059.3 238.0 22.5% Less: Three Months Ended March 31, 2023 282.6 68.6 24.3% LTM Ended March 31, 2024 $ 1,
Slide 13: Consolidated Adjusted EBITDA (1/2)
Consolidated Adjusted EBITDA (1/2) For the Year Ended December 31, 2023 (In Millions) 2023 1Non-cont r olling int er est com pensat ion allocat ion r epr esent s com pensat ion expense associat ed wit h a por t ion of t he r ollover $ 10.8 equit y fr om t he acquisit ions of LeanT eq and Alluxa t ha
Slide 14: Consolidated Adjusted EBITDA (2/2)
Consolidated Adjusted EBITDA (2/2) For Three Months Ended March 31, 2024 and 2023 Three Months Ended (In Millions) March 31, 2024 2023 Income from continuing operations $ 12.5 $ 26.0 Adjustments to arrive at earnings before interest, income taxes, depreciation, amortization, and other selected items
Slide 15: Segment Information (1/2)
Segment Information (1/2) For the Three Months Ended March 31, 2024 and 2023 Reconciliation of Adjusted Segment EBITDA to Income from Continuing Operations Attributable to EnPro (In Millions) Industries, Inc. 2024 2023 Sales Income f rom continuing operations $ 12.5 $ 26.0 2024 2023 Income tax expen
Slide 16: Segment Information (2/2)
Segment Information (2/2) For the Three Months Ended March 31, 2024 and 2023 (In Millions) Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Adv anced Adv anced Sealing Surf ace Total Sealing Surf ace Total Technologies Technologies Segments Technologies Technologies Segments Acqui
Slide 17: Consolidated Adjusted Net Income
Consolidated Adjusted Net Income (In Millions, Except Per Share Data) Three Months Ended March 31, 2024 2023 Av erage Av erage common common shares shared outstanding, Per outstanding, Per $ diluted Share $ diluted Share Income f rom continuing operations attributable to EnPro Industries, Inc. $ 12.
Slide 18: Free Cash Flow
Free Cash Flow (In Millions) Free Cash Flow - Three Months Ended March 31, 2024 Net cash provided by operating activities $ 6.3 Purchases of property, plant, and equipment (8.2) $ (1.9) Free Cash Flow - Three Months Ended March 31, 2023 Net cash provided by operating activities $ 26.4 Purchases of p
Slide 19: Thank you
Thank you May-June 2024 Investor Presentation 19
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