CIRCOR International — Q4 2016 Earnings Presentation
10 slides from CIRCOR International's earnings presentation, Feb 16, 2017
Slide 1: Fourth Quarter 2016 Investor Review
Energy | Advanced Flow Solutions Fourth Quarter 2016 Investor Review Presented February 16, 2017
Slide 2: Safe Harbor
A CIRCOR we, Safe Harbor This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Reliance should not be placed on forward-looking statements because they inv
Slide 3: Q4 2016 Results
Q4 2016 Results (S millions, except EPS) YTD Free r— Net Revenue EPS Cash Flow* — GAAP Adjusted* $0.63 $46 $164 $158 Down $0.48 4% $0.43 $17 ($0.12) Q4 2015 Q4 2016 Q4 2015 Q4 2016 ‘Organic (14%) Q4 2015 Q4 2016 Q4 2015 Q4 2016 Acquisition 11% FX 1%) Total (4%) Q4 2016 EPS: Diluted Eamings Per Share
Slide 4: Energy Segment Highlights
Energy Segment Highlights ($ millions) se | Q4 2016 | Change FY 2016 | Change Net Revenues 89.0 (3%) 322.0 (16%) Segment Operating Income 9.3 (1.0) 34.6 (15.8) Segment Operating Margin 10.4% (80) bps 10.7% (240) bps Q4 2016 revenues decreased 3% — Large international projects volume down nearly 40%
Slide 5: Advanced Flow Solutions Segment Highlights
Advanced Flow Solutions Segment Highlights ($ millions) YOY YOY Net Revenues 69.2 (5%) 268.2 (2%) Segment Operating Income 8.9 (1.6) 335 (0.3) Segment Operating Margin 12.9% (170) bps 12.5% 10 bps + Q42016 revenues decreased 5% — 3% decline excluding unfavorable FX — Lower power and industrial shipm
Slide 6: Q4 P&L Highlights
Q4 P&L Highlights (in millions, except per share data) Special & | Hl Special&® | H Reported Restructuring | H Reported Restructuring | i GAAP Charges,Net | Adjusted _! GAAP Charges,Net | Adjusted _! i H i i Net Revenue 1582 e ll 1582] 1642 i 1642] 1 1 1 1 ‘Operating (Loss) Income (34) 144 1 1101 12
Slide 7: Cash Flow and Debt Highlights
Cash Flow and Debt Highlights (S millions) Cash Flow from Operations 59 2h Capital Expenditures, net (13) (11) Free Cash Flow 46 17 31-Dec-15 Total Debt 251 91 Cash and Cash Equivalents 58 55 Net Debt 193 36 Net Debt to Equity 48% 9% Q4 2016 Investor Review ZN CIRCOR |
Slide 8: Q1 2017 Guidance as of February 16, 2017
Q1 2017 Guidance as of February 16, 2017 (S millions, except per share data) Q1 2017 Low High Net Revenue $140 $150 Expected Adjusted Earnings Per Share $0.27 = $0.37 Expected Special / Restructuring Charges Per Share: - Restructuring charges ($0.07) ($0.05) - Special charges — M&A amortization rela
Slide 9: Restructuring Actions Summary
Restructuring Actions Summary ($ milions) Annualized 2016 2017 Savings Savings Savings Status Actions Announced in 2016 12 4 8 Ongoing Actions Announced in 2015 21 9 - Complete A&D California Machining Center 3 1 2 Complete Brazil (Operating loss) 4 4 - Complete China Operations 2 1 i Ongoing Total
Slide 10: Use of Non-GAAP Financial Measures
CIRCOR Lo Use of Non-GAAP Financial Measures Within this presentation the Company uses non-GAAP financial measures, including adjusted net income, adjusted earnings per diluted share, adjusted operating income, net debt and free cash flow. These non-GAAP financial measures are used by management in