Teledyne Technologies Incorporated · NYSE:TDY
Teledyne Technologies — Investor Presentation (March 2022)
25 slides from Teledyne Technologies's investor presentation, March 2022
Slide 1: Teledyne Technologies Investor Presentation March 2022
Teledyne Technologies INVESTOR PRESENTATION | MARCH 2022 1
Slide 2: Cautionary Statement Regarding Forward Looking Statements
Cautionary Statement Regarding Forward Looking Statements Teledyne’s investor presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, directly or indirectly relating to earnings, growth opportunities, acquisitions and divestitures, produc
Slide 3: Teledyne: Enabling Technologies to Sense, Transmit and Analyze Information
Teledyne: Enabling Technologies to Sense, Transmit and Analyze Information 3
Slide 4: Teledyne
Teledyne • Global sensing and decision-support technology company • Broad, balanced portfolio of highly engineered products • Proven track record; hands-on management; consistent, predictable performance • Further opportunities for margin improvement • Compound growth in earnings and cash flow • Est
Slide 5: Teledyne Markets; Global Presence
Teledyne Markets; Global Presence Sales of $4.61 Billion (a) Sales percentage by end market and geography for Q4 2021 Markets(a) Sales by Geography(a) (b) Includes Teledyne Marine Instrumentation for hydrographic survey, ocean science and other product lines Offshore Energy Other Marine(b) Europe (c
Slide 6: Teledyne's Transformation
Teledyne’s Transformation (a) (a) 2000 2010 2021 $657 Million $1.64 Billion $4.61 Billion 37% 7% 32% 25% 3% Printed 6% Circuits 52% 4% 7% Aerospace 9% Castings 34% Aerospace 17% 33% Engines 19% 14% Aerospace Engines 1% Printed Circuits Instrumentation Digital Imaging Aerospace & Engineered Divested
Slide 7: Full Spectrum of Imaging Technology
Full Spectrum of Imaging Technology All Wavelengths, All Applications: From Deep Sea to Deep Space GAMMA X-RAY ULTRAVIOLET VISIBLE INFRARED MICROWAVE RADIO 7
Slide 8: Full Spectrum of Imaging Products
Full Spectrum of Imaging Products From Components to Integrated Systems 8
Slide 9: Full Spectrum of Unmanned Systems
Full Spectrum of Unmanned Systems From Sea to Land to Sky Autonomous and unmanned systems and a wide range of payloads 9
Slide 10: Continuous Improvement
Continuous Improvement(a) Gross Margin(b) EBITDA Margin(c) (a) 2009 – 2012 represent data from 44% 28% continuing operations 40% 24% (b) Represents gross margin as filed in historical SEC filings, which do not 36% 20% reflect ASU No. 2017-07: Improving the Presentation of Net Periodic 32% 16% Pensio
Slide 11: Revenue History
Revenue History (a) ($ in millions) (b) ~$5,500 $ 5,500 (a) Excludes the former Aerospace Engines Digital Imaging & Components segment, which was sold on April 19, 2011, in all years 5,000 Instrumentation $4,614 (b) Represents approximate revenue as 4,500 Aerospace & Defense Electronics discussed by
Slide 12: Continuous EPS Growth
Continuous EPS Growth (a) ($ per share) $17.80 (e) $ 18.00 (a) Represents total GAAP EPS for 2002 17.00 $16.86 (d) through 2008 and 2013 through 2020, and GAAP EPS from continuing 16.00 operations for 2001 and 2009 through 2012 15.00 $14.33 (b) Non-GAAP EPS excludes pretax 14.00 charges of $7.9 mill
Slide 13: Consistent Cash Flow
Consistent Cash Flow ($ in millions) $795 (a) Adjusted Free Cash Flow (a non-GAAP $ 800 measure) represents Cash from 750 $747 (b) Operating Activities less purchases of property, plant and equipment, 700 and excludes voluntary pension contributions but includes proceeds 650 pursuant to a 1031 like-
Slide 14: Total Shareholder Return
Total Shareholder Return 5,900 5,500 $423.50 5,100 Shareholder Return Since Publicly Listed Teledyne 4,700 4,300 3,900 3,500 3,100 2,700 2,300 1,900 1,500 1,100 S&P 500 700 $4,521.54 300 (100) February 8, 2022 Jul-03 May-05 Oct-11 Apr-17 Jan-20 Dec-20 Sep-01 Aug-02 Feb-08 Jan-09 Dec-09 Jul-14 Jun-04
Slide 15: History of Focused, Successful Acquisitions
History of Focused, Successful Acquisitions Electronic Instrumentation Digital Imaging Aerospace & Defense Electronics Engineered Systems 2001 2005 2009 2013 2017 2021 $10 Million $100 Million $1.0 Billion 64 Acquisitions; $11.6 Billion in Cumulative Consideration 15
Slide 16: Balance Sheet and Available Liquidity
Balance Sheet and Available Liquidity ($ in millions) Q4 2021 Credit Ratings Moody’s Baa3 Cash $ 474.7 S&P BBB Fitch BBB- Debt 4,099.4 Stockholders’ Equity 7,622.0 Total Capitalization $ 11,721.4 Available Liquidity(a) $ 1,233.9 (a) Represents cash of $474.7 million plus $759.2 million of available
Slide 17: Technologies that Enable Carbon Monitoring, Environmental Science and Climatology
Teledyne: Technologies that Enable Carbon Monitoring, Environmental Science and Climatology 17
Slide 18: Space-based Sensing for Earth Science and Carbon Monitoring
Teledyne: Space-based Sensing for Earth Science and Carbon Monitoring Sensors for all of the following • NOAA Geostationary Operational Environmental Satellite (GOES) – Weather Monitoring • NASA Orbiting Carbon Observatories – Atmospheric Carbon Dioxide (CO2) • NASA GeoCarb – CO2 and Methane (CH4) •
Slide 19: Instrumentation for Air-Quality Monitoring
Teledyne: Instrumentation for Air-Quality Monitoring Leader in Ambient Air Quality Other Related Product Lines • Extensive line of pollution monitoring • Hazardous gas and flame detection for worker instruments (NOx, SO2, O3, CO, CO2, CH4, H2S) safety • Particulate instrumentation (PM10, PM2.5) • Se
Slide 20: Instrumentation for Ocean Science and Climatology
Teledyne: Instrumentation for Ocean Science and Climatology Monitoring the World’s Oceans Other Related Product Lines • Complete line of instrumentation and • Bathymetric lidar and imaging sonar autonomous vehicles for ocean sensing • Software for marine mapping and charting • Analysis of ocean temp
Slide 21: Additional Products for Sustainability, Energy Efficiency and Human Health
Teledyne: Additional Products for Sustainability, Energy Efficiency and Human Health • Thermal cameras for firefighting, heat loss elevated • High-sensitivity, lower-dose X-ray detectors skin temperature screening • Instruments for pharmaceutical development • Industrial vision systems for food safe
Slide 22: Explanation of Non-GAAP Financial Measures
Teledyne Technologies Incorporated Explanation of Non-GAAP Financial Measures We report our financial results in accordance with GAAP. However, management believes that, in order to more fully understand our short-term and long-term financial and operational trends, investors may wish to consider th
Slide 23: Reconciliation of Non-GAAP Financial Measures (cont…)
Teledyne Technologies Incorporated Reconciliation of Non-GAAP Financial Measures (cont…) Management excludes the effect of each of the items identified below to arrive at the applicable non-GAAP financial measure referenced in the previous tables for the reasons set forth below with respect to that
Slide 24: Reconciliation of Non-GAAP Financial Measures
Teledyne Technologies Incorporated Reconciliation of Non-GAAP Financial Measures The following tables set forth a reconciliation of net income and operating margin provided in acordance with GAAP to comparable results that are non-GAAP. Reconciliation of GAAP to Non-GAAP financial measures (in milli
Slide 25: Reconciliation of Non-GAAP Financial Measures (cont…)
Teledyne Technologies Incorporated Reconciliation of Non-GAAP Financial Measures (cont…) Reconciliation of GAAP to Non-GAAP financial measures (in millions): Fiscal Year (Incl. Discont Ops) Fiscal Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Net cash provided by operating activities,
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