Enpro Inc. (NYSE:NPO) Q3 2024 Earnings Conference Call November 5, 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

Jeff Hammond - KeyBanc Capital Markets
Steve Ferazani - Sidoti & Company
Ian Zaffino - Oppenheimer & Co.
Jeff Hammond - KeyBanc Capital Markets

Operator

Greetings, and welcome to the Enpro Q3 2024 Earnings Conference Call. [Operator Instructions] A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, James Gentile. Thank you. You may begin.

James Gentile

Thanks, Irene, and good morning, everyone. Welcome to Enpro's third quarter 2024 earnings conference call. I will remind you that our call is being webcast at empro.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 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, 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 third quarter results and updated outlook for the balance of 2024.

Third quarter sales were up year-over-year and up slightly organically despite persistent softness in more than half of our served markets. Aftermarket or recurring revenue solutions comprise 54% of our revenue year-to-date, which provides underlying stability to our portfolio enables us to perform well in a variety of demand environments. Our results have been quite good even in the face of demand headwinds in certain large served markets.