V2x, Inc. · NYSE:VVX
V2x — Vectrus — Q3 2020 Earnings Presentation
14 slides from V2x's earnings presentation, Nov 10, 2020
Slide 1: Vectrus Third Quarter 2020 Results
VECTRUS THIRD QUARTER 2020 RESULTS CHUCK PROW – PRESIDENT AND CHIEF EXECUTIVE OFFICER SUSAN LYNCH – SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER NOVEMBER 10, 2020
Slide 2: Safe Harbor Statement
Safe Harbor Statement SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 (THE “ACT"): CERTAIN MATERIAL PRESENTED HEREIN INCLUDES FORWARD-LOOKING STATEMENTS INTENDED TO QUALIFY FOR THE SAFE HARBOR FROM LIABILITY ESTABLISHED BY THE ACT. THESE FORWARD- LOOKING STATEMENTS I
Slide 3: Q3'20 Results & Highlights
Q3’20 Results & Highlights Q3’20 revenue of $352 million down 2.1% y/y; up $16.4M or +4.9% sequentially – COVID-19 impact of ($12.9M) or (3.7%) impact to y/y growth Adjusted diluted EPS1 of $0.89 (COVID-19 impact of $0.14) – Adjusted EBITDA Margin1: 4.8% (COVID-19 impact of 40 bps) Awarded a p
Slide 4: Notable Contract Wins to Date
Notable Contract Wins to Date Prime Contract Wins, Recompetes, Extensions Value Contract Name Type Years Dates $6.4B AFCAP V IDIQ1 contract vehicle: Provides base life support services, Various 8.0 Jun 2020 – May 2028 (Ceiling) construction and commodities support worldwide OASIS Pool 1: “Best in Cl
Slide 5: Robust Pipeline of Future Growth
Robust Pipeline of Future Growth Total qualified new business pipeline at Q3’20 of $10.0 Billion Includes $1.7 billion of submitted bids and $8.3 billion of bids planned to be submitted in the next twelve months New business pipeline does not include any tasks associated with the recent OASIS Po
Slide 6: Well Positioned for Market Share Growth in DoD O&M Budget
Well Positioned for Market Share Growth in DoD O&M Budget1 Base O&M ($M) Total O&M ($M) Sequestration 250,000 Enacted 350,000 300,000 200,000 250,000 150,000 200,000 100,000 150,000 100,000 50,000 50,000 - - GFY '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '01 '02
Slide 7: Q3'20 Financial Results
Q3’20 Financial Results Revenue ($M) EBITDA1 Margin Diluted1 EPS $12.9 0.4% $0.14 $359.9 $352.4 4.8% $0.89 4.1% $0.71 Q3'19 Q3'20 Q3'19 Q3'20 Q3'19 Q3'20 Adjusted results1 COVID-19 impact Revenue decreased $7.5 million yr/yr, Adj. EBITDA1 margin of 4.8% Adj. diluted1 EPS of $0.89 or 2.1% as a
Slide 8: Solid Backlog and Book-to-Bill
Solid Backlog and Book-to-Bill Backlog1 ($B) Trailing 12-Month Book-to-Bill Ratio $4.1 $3.9 1.8 x $3.8 $3.7 $ 0.2 1.5 x 1.5 x $3.0 1.4 x $2.7 $ 3.0 $ 2.9 $ 2.7 $ 2.7 1.0 x $ 2.2 0.8 x $ 2.0 $ 1.0 $ 1.0 $ 1.0 $ 0.8 $ 0.7 $ 0.9 3Q'19 4Q'19 1Q'20 Q2'20 Q3'20 Q3'20 3Q'19 4Q'19 1Q'20 Q2'20 Q3'20 Q3'20 Pr
Slide 9: Cash Flow and Liquidity
Cash Flow and Liquidity Nine months ended Q3 $M 2019 2020 $ yr/yr change % yr/yr change YTD Net Cash Provided by (Used in) Operating Activities $28.4 $37.7 $9.3 33% Cash $41.1 $63.7 $22.6 55% Receivables $254.8 $268.1 $13.3 5% Debt $73.0 $66.0 ($7.0) (10%) 1 Net Debt $31.9 $2.3 ($29.6) (93%) Leverag
Slide 10: Reiterating Full-Year 2020 Guidance
Reiterating Full-Year 2020 Guidance $M 2020 Guidance Revenue $1,385 — $1,405 Adjusted EBITDA Margin (%) 4.0 % — 4.1 % Adjusted Diluted Earnings Per Share $2.68 — $2.82 Net Cash Provided by Operating Activities $45.0 — $55.0 2020 guidance assumptions include: Capital expenditures ~ $5.0 million D
Slide 11: Appendix
f APPENDIX VECTRUS TRUE TO YOUR MISSION
Slide 12: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures The primary financial performance measures we use to manage our business and monitor results of operations are revenue trends and operating income trends. In addition, we consider adjusted operating income, adjusted operating margin, adjusted net income, adjusted
Slide 13: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures Page 13
Slide 14: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures Page 14