EnPro Industries Reports Q2 Profit; Raises Annual Outlook

EnPro Industries, Inc. (NPO) on Tuesday announced income from continuing operations attributable to EnPro Industries of $29.3 million or $1.41 per share in the second quarter compared with loss of $3.3 million or $0.16 per share in the year-ago quarter.

Excluding items, adjusted income from continuing operations was $32.4 million or $1.56 per share, higher than 18 million or $0.88 per share in the corresponding quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.24 per share. Analysts' estimates typically exclude special items.

Sales for the quarter increased 20.9% to $298.6 million from $247 million last year, helped by growth in all segments. The consensus estimate was for $273.57 million.

Looking forward to the full year, EnPro is raising its sales outlook to the range of $1.075 billion to $1.125 billion from the previous outlook of $1.05 billion- $1.10 billion. Analysts see sales of $1.09 billion for the period.

The company has also raised its adjusted EPS from continuing operations in the full-year to the range of $5.16 to $5.50 from $4.74 - $5.08 provided earlier. The consensus estimate stands at $4.93 per share.

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