Slide 1: Q1 2023 Earnings Conference Call
Q1 2023 EARNINGS CONFERENCE CALL Conference Call Dial-in numbers: May 4, 2023 (800) 274-8461 (domestic) (203) 518-9843 (international) Conference code: CWQ123 Q1 2023 Earnings Presentation
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT Please note that the information provided in this presentation is accurate as of the date of the original presentation. The presentation will remain posted on this website from one to twelve months following the initial presentation, but content will not be updated to reflect n
Slide 3: Strong First Quarter Performance Supports Full-Year 2023 Outlook
STRONG FIRST QUARTER PERFORMANCE SUPPORTS FULL-YEAR 2023 OUTLOOK First Quarter 2023 Highlights ▪ Sales of $631M, up 13% overall, including 11% organic growth – A&D markets up 13%, reflecting some easing in defense electronics supply chain and mid-teens growth in Commercial Aerospace – Commercial mar
Slide 4: First Quarter 2023 Financial Review
FIRST QUARTER 2023 FINANCIAL REVIEW Q1’23 Q1’22 ($ in millions) Adjusted Adjusted Change Key Drivers ▪ Double-digit growth in Commercial Aerospace and HSD growth in General Industrial (industrial vehicles Aerospace & Industrial $202 $191 6% and surface treatment services); Partially offset by timing
Slide 5: 2023 End Market Sales Growth Guidance
2023 END MARKET SALES GROWTH GUIDANCE (As of May 3, 2023) 2023E Growth 2023E vs 2022 % Sales ▪ Solid organic growth in defense electronics revenues on various C5/ISR programs; Aerospace Defense 9% - 11% 20% Contribution from arresting systems acquisition Ground Defense 4% - 6% 9% ▪ Higher tactical c
Slide 6: 2023 Financial Guidance (by segment)
2023 FINANCIAL GUIDANCE (As of May 3, 2023) Change vs ($ in millions) 2023E Adjusted 2022 Adjusted Aerospace & Industrial $845 - 860 1% - 3% ▪ Solid demand in Commercial Aerospace mainly offset by reduced Defense (timing of programs) and FX (1%) ▪ Strong Defense market growth driven by record backlo
Slide 7: 2023 Financial Guidance
2023 FINANCIAL GUIDANCE (As of May 3, 2023) 2022 2023E Change ($ in millions, except EPS) Adjusted Adjusted vs 2022 Total Sales $2,557 $2,655 - 2,710 4% - 6% Operating Income Growth > Sales Growth (aligns w/ Investor Day) Total Operating Income $443 $463 - 477 5% - 8% Other Income $17 $27 - 28 ▪ Hig
Slide 8: Curtiss-Wright Remains Well Positioned to Deliver Long-Term Profitable Growth
CURTISS-WRIGHT REMAINS WELL POSITIONED TO DELIVER LONG-TERM PROFITABLE GROWTH ▪ FY23 outlook reflects continued execution of Pivot to Growth strategy ▪ Sales growth of 4% - 6%, driven by strength in A&D markets – Benefiting from multi-year growth in Defense markets – Anticipate continued ramp up in
Slide 9: Appendix
Appendix Q1 2023 Earnings Presentation 9
Slide 10: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved tran
Slide 11: First Quarter 2023: End Market Sales Growth
FIRST QUARTER 2023: END MARKET SALES GROWTH Q1’23 Q1’22 ($ in millions) Key Drivers Adjusted Adjusted Change Higher revenues of arresting systems equipment (acquisition) mainly offset by timing in Aerospace Defense $100 $98 2% Aerospace Defense (actuation and embedded computing products) Ground Defe
Slide 12: 2023E End Market Sales Waterfall
FY’23 Adjusted Guidance: 2023E END MARKET SALES WATERFALL (as of May 3, 2023) Overall UP 4 - 6% A&D Markets UP 6 - 8% Total 2023 CW End Markets Comm’l Markets UP 0 - 2% $2.655B - 2.710B Aerospace & Defense Markets Commercial Markets 67% $1.78B 33% $0.90B Naval Commercial Aerospace Power & Process Ge