Enpro (NPO) Q4 FY2023 earnings: revenue $249 million, down 8.4% on the year

Enpro Inc. (NPO) reported revenue of $249 million for Q4 FY2023, the quarter ended 31 December 2023, down 8.4% on the same quarter a year earlier. Net income was -$5 million, and diluted earnings per share $-0.23. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue$249 milliondown 8.4%

Net income-$5 million

Diluted EPS$-0.23

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	249	251	n/a	n/a
Cost of revenue	153	151	n/a	n/a
Gross profit	96.3	99.6	n/a	n/a
Gross margin	38.7%	39.7%	n/a
Selling, general and administrative	73.9	65.6	n/a	n/a
Operating income	20.5	31.9	n/a	n/a
Operating margin	8.2%	12.7%	n/a
Interest expense	10.1	10.8	n/a	n/a
Pre-tax income	9.3	22.9	n/a	n/a
Income tax	13.8	14.7	n/a	n/a
Effective tax rate	148.4%	64.2%	n/a
Net income	-4.9	8.3	n/a	n/a
Net margin	-2.0%	3.3%	n/a
Diluted EPS	-$0.23	$0.39	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Capital expenditure	13.2	8.8	n/a	n/a
Cash from investing	-12.1	26.3	n/a	n/a
Cash from financing	-8.1	-141	n/a	n/a
Depreciation and amortisation	56.9	6.1	n/a	n/a
Share-based compensation	1.9	2.5	n/a	n/a
Dividends paid	6.0	6.1	n/a	n/a
Dividend per share	n/a	$0.29	n/a	n/a
Diluted shares, weighted	21m	21m	n/a	n/a
Shares outstanding at period end	21m	21m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	1,410	1,408	n/a	n/a
Redeemable equity	17.9	17.9	n/a	n/a
Debt	647	648	n/a	n/a
Operating lease liabilities	40.6	n/a	n/a	n/a
Other liabilities	384	427	n/a	n/a
Total liabilities and equity	2,500	2,501	n/a	n/a
Fixed assets	194	186	n/a	n/a
Goodwill	808	805	n/a	n/a
Investments	n/a	0.8	n/a	n/a
Cash and equivalents	370	330	n/a	n/a
Inventory	143	146	n/a	n/a
Other assets	985	1,034	n/a	n/a
Total assets	2,500	2,501	n/a	n/a

Questions

What was Enpro's revenue in Q4 FY2023?

Enpro (NPO) reported revenue of $249 million for Q4 FY2023, the quarter ended 31 December 2023, down 8.4% on the same quarter a year earlier.

How much did Enpro earn in Q4 FY2023?

Net loss for Q4 FY2023 was $5 million, and the diluted loss per share $0.23.

When did Enpro report Q4 FY2023 results?

Enpro filed its 10-K for the year that ended with the quarter on 27 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	251	249	258	272	261	258	273	288	287	295	303	339
Cost of revenue	151	153	151	153	151	149	155	163	166	171	173	190
Gross profit	99.6	96.3	106	119	110	109	118	125	120	124	130	149
Gross margin	40%	39%	41%	44%	42%	42%	43%	43%	42%	42%	43%	44%
SG&A	65.6	73.9	77.4	70.3	71.7	76.9	75.8	79.2	78.9	89.5	85.3	89.8
Operating income	31.9	20.5	28.0	48.0	34.1	32.2	41.8	45.7	40.9	33.2	43.5	57.7
Operating margin	13%	8%	11%	18%	13%	12%	15%	16%	14%	11%	14%	17%
Interest expense	10.8	10.1	10.3	10.7	10.4	9.5	9.2	9.0	6.9	8.9	9.4	8.7
Pre-tax income	22.9	9.3	14.3	36.4	24.0	19.7	32.3	35.5	32.1	-42.3	33.9	32.9
Tax rate	64%	148%	13%	27%	18%	29%	24%	26%	33%	n/a	19%	18%
Net income	8.3	-4.9	12.5	26.7	19.8	13.9	24.5	26.4	21.6	-32.0	27.4	27.1
Net margin	3%	-2%	5%	10%	8%	5%	9%	9%	8%	-11%	9%	8%
Diluted EPS	$0.39	-$0.23	$0.59	$1.27	$0.94	$0.66	$1.15	$1.25	$1.01	-$1.52	$1.29	$1.27
Operating cash flow	n/a	n/a	6.3	43.2	54.0	n/a	21.0	52.2	65.3	n/a	39.6	51.3
Capital expenditure	8.8	13.2	8.2	4.9	5.7	10.3	8.0	9.9	11.9	12.2	12.2	15.6
Free cash flow	n/a	n/a	-1.9	38.3	48.3	n/a	13.0	42.3	53.4	n/a	27.4	35.7
Dividends paid	6.1	6.0	6.4	6.3	6.3	6.3	6.6	6.6	6.5	6.5	6.9	6.9
Shares outstanding	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 27 February 2024, accession 0001164863-24-000015: the filing on EDGAR. All of Enpro Inc.'s filings: EDGAR company page.

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