Enpro Inc. reported a total revenue of $1,048.7 million for the fiscal year ending December 31, 2024, reflecting a decrease of 1.0% from $1,059.3 million in 2023. The company's income from continuing operations attributable to Enpro Inc. significantly increased to $72.9 million, or $3.45 per diluted share, compared to $10.8 million, or $0.51 per diluted share, in the previous year. The adjusted income from continuing operations also rose to $146.9 million, up from $137.0 million in 2023, indicating a positive trend in profitability despite the slight decline in overall sales.
The company undertook strategic acquisitions during the year, notably acquiring Advanced Micro Instruments, Inc. for $209.4 million, which contributed $32.1 million to sales in 2024. Additionally, Enpro completed the acquisition of all outstanding equity interests in Alluxa for $17.9 million, further consolidating its position in the market. These acquisitions are part of Enpro's ongoing strategy to enhance its capabilities in high-growth sectors, particularly in semiconductor and life sciences applications.
Operationally, Enpro's Sealing Technologies segment saw sales increase by 4.4% to $687.2 million, driven by strong demand in aerospace and nuclear markets, while the Advanced Surface Technologies segment experienced a 9.7% decline in sales to $362.2 million, primarily due to reduced spending in semiconductor capital equipment. The company reported a total employee headcount of approximately 3,500 as of December 31, 2024, with a focus on enhancing employee engagement and safety, which has been a core value for the organization.
Looking ahead, Enpro's management expressed optimism about future growth, citing a backlog of orders valued at $240.6 million as of December 31, 2024, which is an increase from $225.4 million in the previous year. The company anticipates that ongoing investments in product development and strategic acquisitions will continue to drive revenue growth and improve profitability. However, management also acknowledged potential risks, including market volatility and competition, which could impact future performance.
About Enpro Inc.
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