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News Breaks
January 11, 2014
18:11 EDTNPOJudge estimates EnPro’s GST mesothelioma liability at $125M
EnPro Industries announced that Judge George Hodges of the United States Bankruptcy Court for the Western District of North Carolina entered an order estimating the liability for present and future mesothelioma claims against EnPro’s Garlock Sealing Technologies, GST, subsidiary at $125M, consistent with the positions GST put forth at trial. Judge Hodges’s opinion follows the completion of an estimation trial held in his court during July and August of 2013. The judge’s estimate is for mesothelioma claims only. Additional amounts may be necessary to resolve other disease claims and for trust administration costs.
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August 1, 2014
06:32 EDTNPOEnPro downgraded to Hold from Buy at KeyBanc
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July 31, 2014
07:36 EDTNPOEnPro sees 'improved' results in most business for balance of year
The company said, "We expect improved results in most of our businesses for the balance of the year as we benefit from activity in our markets and internal developments. Order activity remains robust in our semiconductor, aerospace and trucking markets, and orders have improved in the process industries served by the Garlock family of companies and CPI. The company also pointed out that the company expects second half revenues and segment profits in the Power Systems segment to increase over the 1H14 and 2H13, primarily as a result of higher engine revenues and stronger aftermarket sales. At the same time we are seeing these developments in our markets, we also expect to benefit longer term from a number of strategic growth initiatives underway, including our investments in the Stemco distribution center, the new opposed piston engine in Power Systems, and focused business development efforts across the company."
07:34 EDTNPOEnPro reports Q2 adjusted EPS 57c, consensus 59c
Reports Q2 revenue $313.1M, consensus $312.57M.

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