NPO - Why Enpro Stock Is Falling Today
2024-02-20 13:27:57 ET
Industrial component manufacturer Enpro (NYSE: NPO) fell short of expectations in the most recent quarter and provided tepid guidance for 2024. Investors were disappointed, sending Enpro shares down as much as 15.4% for the day and down 7.3% as of 12:45 p.m. ET.
Enpro makes engineered components for the semiconductor, power, aerospace, food and pharma, and transportation sectors. The company earned $1.19 per share in the fourth quarter on revenue of $249.1 million, falling short of the $1.44 per share on sales of $264 million that was the Wall Street consensus.
Sales were down 8.4% for the quarter and 3.6% for all of 2024, and adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) fell 12.2% and 7.5% for the quarter and full year, respectively. The company saw strength in its sealing technologies unit, but weakness in areas including semiconductors and commercial vehicles.
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Why Enpro Stock Is Falling Today