Shares of EnPro Industries (NYSE:NPO) plummeted 5.53% on Monday after the industrial products maker reported weaker-than-expected third quarter results and lowered its full-year guidance.
For Q3 2024, EnPro posted adjusted earnings of $1.74 per share, missing Wall Street's consensus estimate of $1.87 by 6.9%. Revenue of $260.9 million also fell short of analysts' expectations of $264.5 million.
The company pointed to continued supply chain challenges and high inflation as factors impacting its results. EnPro CEO Eric Vaillancourt stated, "While our businesses continued to navigate a difficult operating environment in the third quarter, we delivered solid top-line growth and profitability with adjusted EBITDA margins of 24.6%."
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