Company: NPO
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048610
Chunk: 17

Company: Enpro Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 17
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 cleaning solutions, and improved demand for certain semiconductor tools and assemblies drove the sales increase. 

Adjusted Segment EBITDA of $21.8 million in the third quarter of 2025 increased 13.5% from $19.2 million in the comparable period of 2024.  Segment AEBITDA margin narrowed to 20.1% from 20.8% last year. Contribution from the increase in sales was partially offset by increased personnel and qualification costs supporting new platforms and long-term growth initiatives ($2.9 million) as well as a mix shift toward certain semiconductor tools and assemblies ($2.2 million).

Corporate expenses for the third quarter of 2025 of $10.2 million compared to the same period in 2024 remained relatively flat, decreasing by $0.1 million.

Interest expense, net in the third quarter of 2025 decreased by $2.6 million from the third quarter of 2024 primarily driven by lower outstanding debt.

Other expense, net in the third quarter of 2025 increased $1.3 million compared to the same period in 2024, driven primarily by higher costs related to previously divested businesses ($1.2 million) and higher non-service pension related costs ($0.8 million), partially offset by lower decreased foreign exchange losses related to an intercompany note denominated in Euros ($0.7 million).

The effective tax rates for the quarters ended September 30, 2025 and 2024 were 32.6% and 17.4%, respectively. The effective tax rate for the quarter ended September 30, 2025 is higher than the U.S. Federal tax rate primarily driven by higher tax rates in most foreign jurisdictions and state tax on domestic earnings, as well as unfavorable adjustments resulting from the completion of the 2024 year-end U.S. Federal income tax return. The effective tax rate for the quarter ended September 30, 2024 is lower than the U.S. Federal tax rate primarily driven by favorable adjustments resulting from the completion of the 2023 year-end U.S. Federal income tax return. 

Net income was $21.6 million, or $1.01 per share, in the third quarter of 2025 compared to $19.8 million, or $0.94 per share, in the third quarter of 2024. Earnings per share is expressed on a fully diluted basis. 

29

Nine Months Ended September 30, 2025