for you morning Chris everyone. Thanks, joining Thank us. good and
We like the around today, expressing but first, colleagues on I the on have would government gratitude grocery proactively excellence cover world. to while heroes the pandemic. a the emergency our our true employees working adopting of very have I adjusted factories heart battling this service I core thank solutions. professionals, by been am throughout EnPro’s start with have and the EnPro and actions COVID-XX employees, sincere different practices officials working store to products we frontlines been have want to customers the who proud lot safety the frontline have healthcare respect in to to our at as of responders, my the quality of of how continued safety, organization. enhanced values to way our our and
on to we to the everyone relate performance, like Before I take center to important our that opportunity EnPro. themes get would into financial three
we acted COVID-XX. urgency of decisiveness we with about when seriousness First, and the first learned
on this top support And was COVID-XX moment. our safety quickly protocols, health priority in team and do world. a a around and implemented to more employees well-being so, response enacted Our to dedicated the we and the new ensure of
current strong cash Second, we untapped largely recent economic cash, proceeds and by sheet strong Morse very relentless have Fairbanks revolver a cash to fortified a With position of a weather $XXX a are conditions. balance focus the very million results nearly from divestiture. on we in the generation the
and growth organic building on generation. that businesses margin more we weighted portfolio inorganic a recurring last revenue that durable cash through significantly higher and are markets of towards and year and emphasis places the Third, flow spent have higher actions more
the company we are our timeframe. achieve a much on we than in still are vision While our XXXX/XXXX EnPro, stronger to journey for
we to navigating have tested talent emerged force environment We even where organization. and an a team, cycle the leadership dedicated have path and stronger strengthened strategy a a current clear through
With that, our let results. review quarter first me
EBITDA approximately to points increased We adjusted that in XX% $XX.X million are share, while earnings petrochemical markets and duty sheet, heavy additional and margin in that of EBITDA sales division truck, per $X.XX to our basis per Fairbanks challenging late the strengthened share adjusted was to divestiture a XXX general liquidity. XX% industrial, increased of XX.X%. resulted The conditions and navigating January to demand timely pleased Morse expanded report Adjusted automotive decrease in providing X%. balance diluted
QX, adjusted of X.Xx. to As EBITDA and just a our net result was in our divestiture this performance debt
CEO Since taking XXXX, July of been focus. margin on the has in position core expansion a
improving quality across SG&A all and maintain these on productivity to costs relentless improving of strong led systems a we Our improve results. and efficiency And to businesses. focus our our reducing reduce team’s control operational efforts costs while to continue
sit great only this here we’re started. getting is I progress, As today, but
Group, declines truck right-size in For heavy-duty was measures points. This control elsewhere plant and quarter, due and decrease grew meaningful overhead response in first to improvements EBITDA adjusted business we margin Products basis improve structure the primarily adjusted last and our cost optimize the workforce, to In EBITDA business Aseptic Engineered this in and segment. in expanded volume Sealing XX% year’s our acquisitions cost taking year-over-year are Products, the continue LeanTeq implemented XXX of and SG&A actions spending. the to to
pandemic beyond year identified for full broader COVID-XX, and the risks earnings a continued late it potential China. call the of impact we to our associated if February, in On with spread
of share of Chinese we While we in a our have pleased forced our period region for operations to to operations time, are normal in short that all were of facilities our that suspend levels production. resumed
Overall, safety able provided help insights been combat with situation many gleaned COVID-XX have globally. effective COVID-XX a experience had current procedures quarter have to Our in across manage situation. our we this sites first diligently on leverage to been to learnings China the working and strong we early and
is on X a and is health progression, to Phase the resetting our discuss Slide Phase from Phase conditions, while centers pandemic. well X focused developed to and to period on pandemic be business business through the post the is take to and like stability to capture the based we normal managing that levels, X the And customers. I’d four-phased running we’ve learnings moments improvement including focused new adverse will responsive demand on safety, growth phases. previous where to positioned Turning the COVID-XX X, new in adapt few Phase and it our X process liquidity business navigate to on to approach being as returns.
have discussing during I the phase, time is as we most have the actions taken this taken to of where the will morning date. spend our steps bulk been of first this my
the overriding as focus is our we the this families with priority. company, our have pandemic, our placed health challenge and always a of global as As safety customers well-being suppliers. communities plus of well our on their and and as employees, our Faced X,XXX
was we across subset leadership this global team During local of along and meeting in this developing mobilized team. protocols This phase, is site involved team, company. is coordination emerged internal our response COVID-XX manage teams, daily China. executive and created our issue when safety with A support in of our the composed deeply team, efforts which this to
the the remote have and the line the measures with local presiding locations have options also and we over enacted for where Organization, implemented feasible, Health World from preventative Where of Control we operations. Center flexible We work in Disease recommendations governments have employees.
access, plexiglass and enacted to screening and for distancing to we’ve essential operating As within management working PPE for close include visual practices. proximity, separate physical procedures gloves, additional temperature safe enhanced good that social facility face our employees, including masks employees barriers support on-site
to throughout sanitizing training stations In in cleaning and our disinfecting, broad-based facilities perform strategically employee addition, we we placed cleaning. enhanced with need services third-party event deep and have and contracted developed the
supply urgency. and and manner a a phenomenal Our have a while in of manufacturing creative moving executing also chain sense with done teams job proactive
our event global adjust COVID-XX have our operation positive individuals. an pandemic practice to the learnings which way allowing playbook, interactive to of and safe work This for respond to safe is the of as developed educate, preparedness of transfer of collaborate to This working. how for a new a multiple playbook manufacturing facilities, is guidelines well standardization of each provides distribute in we manufacturing case level sites as Additionally, and this response. quickly us our as of best we single community to guide
training facilities. We playbook for our are each of conducting currently
to have we this cases steps XX had supply our fully chain significant happy recovered. manufacturing May of many of COVID-XX facing levels difficult facilities enhanced as employees currently XXX% challenge to the various today, to have families not our taken thanks although them whom are and of recognize our support We and their benefits to exceptional Friday, have X,XXX-plus have that provide and primary operating, of X, tireless during am experienced time. at as confirmed teams. we disruptions workforce, are effort Of report of our I the capacity, and of global
implemented those As we we employees impacted. our have right-size for business, had have benefits to healthcare
with safety and first We are around efforts security. enhanced our colleagues phase confident provided the have our
continuing However, as to this new virus. more everyday about we are learn we more practices implement and
focus a supporting are live. we to on we With local communities our committed people, work and where
States have medical-grade the suppliers including materials aid the difficult-to-locate and Europe. thousand in several institutions to United We connected thermometers, with infrared in sourcing EnPro and distributed have like doctors and hospitals NXX masks, to
we everything to to continue curve. to flatten medical the will can We our assist do professionals
second business keen now involves stability our on we are a of progression. phase The focus and response, which entering,
continuity the have and detail so action the are agile pockets new discuss to spread maintaining COVID-XX for the in We of informed further will are analysis starts adjust in several ensuring initiatives increasing have playbook any enact business will businesses prevent environment of of of Milt levels. detailed success and the a and developed to know in be will planned to has moments. severity ability our future while demand uncertainty, Each contingency improve. environment. a our to when scenarios few taking to necessary decisive we We sensitivity as
supply for standard chain mitigation is perspective, From focus. a us a risk
which supply We of council, and risk focused on have sessions progression our businesses, all from with our chain leadership mitigation. stability, working solely representatives weekly across includes
tracking And years we chain during supply X supply chain a demonstrated fortunate our major system have in for playbook levels feel workshops. operational suppliers communicate and such the strength the in businesses, a our suppliers basis. developed supply our at to times. all has of implemented We organization ago. capability-building these with We We organization regularly to status each supply competence consistent during chain chain everyone on understand have of a
and plan emerge and involves our processes, two monitoring phases. that of phase The from the procedures improving ways first of the new third working
will phase we in legacy our changes that to new to finding solutions confident businesses, thrive will While we’re many acknowledge environment. this allow the our employees involve in
and example, returned a to For communication state point embracing by Phase the video usage. in as speed, X, conditions relative phase We of our facilitated already have view the increased last efficiency market we’re increased which normalcy.
X Phase we as on to resources point progress we shift While the at back the EnPro fully economic strategy broader downturn, which a view priorities our portfolio. transform continue and to plan during making our strategy to we can
our Now, let me few spend discussing strategic a moments outlook.
include been with on leading strong trends. in and our strategy cash businesses reshaping remains has Our portfolio technologies markets focused compelling and with secular favorable to flow margins,
and where exposure recurring We concentration aftermarket can are drive our focused on even greater we businesses increase of revenues.
committed investment. approach allocation increase leveraging to EnPro capital to are to flow margins balanced and system and maintaining on We operating cash a the return
businesses Aeris shoe January, completed our sale our Power and like TrailerTail, that future strong, Rome, balance product brake our business, with to did in businesses exited time this, year, In in company. of our lines business in Longview, including located Georgia, located Fairbanks thanks Texas. we the truck In in a progress which constituted at we Importantly, over for portfolio our part align exiting well Sealing reshaping is as sheet AirBatRF the segment. several the last Morse heavy-duty not our Products, Systems vision as our and
two made pharmaceutical acquisitions semiconductor and Aseptic also into the Group, our expanding biopharmaceutical XXXX, strategic industries. We in attractive the and reach LeanTeq equipment,
flow secular applications Both positions for These faster of significant the our remain strong durability focused business current growth and with our in The over. when our contributions. COVID-XX, markets, supporting am past we this we strategy. prospects growth aftermarket portfolio technical has crisis business trends on leadership acquisitions expertise, is cash as strategy, high-growth niche emerge margins, near-term companies mission-critical the long-term over stronger, have dynamics will confident compelling with done model. year the market long-term on advancing with align strong shaping their And associated through I a excellent we’ve their growing Despite businesses. competitive strengthened and profiles focus
on discussion And Milt? the to over now our additional turn I will for call results. quarterly Milt
