Enpro sales increase 9.9% in third quarter
Enpro Inc. reported its third quarter sales of $286.6 million were up 9.9% YoY, and net income increased 9.1%.
“Enpro delivered another strong quarter with sales growth of almost 10% and solid profitability even as we continue growth investments in capabilities and strategic initiatives that lay the foundation for future value creation," said President and Chief Executive Officer Eric Vaillancourt. "Sales performance was highlighted by double-digit growth in AST driven by strong demand in leading-edge precision cleaning solutions and certain semiconductor tools and assemblies. Sealing Technologies drove a 6% sales increase at strong profitability, underscoring solid fundamentals. Although our operating margin in AST was impacted by increased investments in key initiatives and product mix, the opportunities ahead for the segment are exciting."
Vaillancourt continued, "We welcomed Overlook Industries to the Enpro family on October 8th, and we look forward to completing the acquisition of AlpHa Measurement Solution during the fourth quarter. These two additions to the Enpro portfolio will extend our critical capabilities in biopharmaceutical manufacturing technologies and compositional analysis markets, two areas where we see opportunities to accelerate profitable growth. Overall, we are delighted with how the organization is executing on the Enpro 3.0 strategy in its first year and confident in our ability to build on this momentum in coming periods."
Read reporting details here.
INDUSTRIAL SUPPLY MAGAZINE
The September/October issue of Industrial Supply magazine features an in-depth cover story about American Producers Supply. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
