Enpro Inc. (NYSE:NPO) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET

Company Participants

James Gentile - Vice President-Investor Relations
Eric Vaillancourt - President and Chief Executive Officer
Joe Bruderek - Executive Vice President and Chief Financial Officer

Conference Call Participants

Steve Ferazani - Sidoti & Company
Isaac Sellhausen - Oppenheimer
Jeff Hammond - KeyBanc Capital Markets

Operator

Hello and welcome to the Enpro Q2 2024 Earnings Conference Call and Webcast. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded.

It’s now my pleasure to turn the call over to James Gentile, Vice President, Investor Relations. Please go ahead, James.

James Gentile

Thank you and good morning, everyone. Welcome to Enpro’s second quarter 2024 earnings conference call. I will remind you that our call is being webcast at enpro.com, where you can find the presentation that accompanies this call. With me today is Eric Vaillancourt, our President and Chief Executive Officer and Joe Bruderek, Executive Vice President and Chief Financial Officer. During today’s call, we will reference a number of non-GAAP financial measures.

Tables reconciling the historical non-GAAP measures to the comparable GAAP measures are included in the appendix to the presentation materials. Also, a friendly reminder that we will be making statements on this call that are not historical facts and that are considered forward-looking in nature. These statements involve a number of risks and uncertainties, including those described in our filings with the SEC. Also note that during this call, we will be providing full-year 2024 guidance, which excludes unforeseen impacts from these risks and uncertainties. We do not undertake any obligation to update these forward-looking statements.

It is now my pleasure to turn the call over to Eric Vaillancourt, our President and Chief Executive Officer. Eric?

Eric Vaillancourt

Thanks, James and good morning, everyone. Thank you for joining us today as we review our results for the second quarter and provide an update that includes the narrowing of our outlook for full-year 2024. We performed well in the second quarter with strong profitability in the Sealing Technologies segment, and sequential improvement in both sales and adjusted segment EBITDA in Advanced Surface Technologies.

Consolidated adjusted EBITDA margins exceeded 27% for the first time. We are pleased with the team’s agility this quarter as profitability shined even as soft demand persists in certain areas of the business. Again, this quarter, our people worked very hard to achieve these results that demonstrate the compelling balance inherent in the Enpro portfolio and our ability to execute well on a variety of macroeconomic scenarios. We would like to thank our 3,500 colleagues across the company for their outstanding contributions and commitment to the company’s ongoing performance.