EnPro reports Q3 adjusted EPS $1.58, consensus $1.58

Reports Q3 revenue $250.7M, consensus $272.67M. “Continued strong performance in the Sealing Technologies segment in the third quarter was offset by declines experienced in the Advanced Surface Technologies segment due to weakness in the semiconductor industry,” said Eric Vaillancourt, President and CEO. “Despite these macro headwinds, Enpro delivered adjusted EBITDA margins of 23.0% for the third quarter and 23.6% year-to-date. Our ability to maintain healthy margins during a semiconductor downturn reflects the benefits of our balanced portfolio and resilient business model. We will continue to invest in our semiconductor business through the cycle and are well positioned to benefit from what is widely expected to be a doubling of the industry in the decade ahead.” Vaillancourt continued, “Our balance sheet is strong and we continue to generate excellent free cash flow. We are investing in organic growth opportunities and productivity enhancements across the company, while prudently pursuing acquisitions that expand our leading-edge capabilities and meet our strategic and financial criteria.”