Slide 1: Third Quarter 2024 Earnings Presentation
Third Quarter 2024 Earnings Presentation Enabling Technology. Growing Sustainably.
Slide 2: Legal Notices
Legal Notices SAFE HARBOR Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statement
Slide 3: Third Quarter 2024 Financial Results
Third Quarter 2024 Financial Results Q3 Highlights • Record Electronics segment revenue • Announced sale of Graphics Solutions for $325 million Constant Currency* Organic* ($ in millions) Q3 2024 Q3 2023 YoY YoY YoY Net Sales $645 $599 8% 9% 6% Electronics 419 367 14% 15% 9% Industrial & Specialty 2
Slide 4: Third Quarter 2024 Segment Details
Third Quarter 2024 Segment Details Electronics Net Sales Organic Key Drivers ($ in millions) Growth* Assembly $216 4% Improved consumer electronics demand in Asia, continued weakness in western automotive markets Circuitry $120 9% Strong demand in high-performance computing, China EV and data storag
Slide 5: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management ▪ Q3 2024 free cash flow* of $86 million ▪ Net debt to adj. EBITDA ratio* of 3.0x on an LTM basis as of September 30, 2024 o Includes semi-annual bond payment ▪ As of Oct 15, capital structure is more than 85% fi
Slide 6: Full Year 2024 Financial Guidance
Full Year 2024 Financial Guidance Updated as of October 2024 FY Adj. EBITDA* $535 million to $540 million FY Adjusted EPS* $1.42 to $1.44 FY Free Cash Flow* $280 million to $300 million ▪ Expect year-over-year FX headwind for FY24 greater than $10 million at mid-October rates and modest tailwind to
Slide 7: Appendix
Appendix Enabling Technology. Growing Sustainably.
Slide 8: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) Q3 2024 Q3 2023 Basic common shares outstanding 242 242 Number of shares issuable upon vesting of granted Equity Awards 1 2 2 Adjusted common shares outstanding 245 244 Note: Totals may not sum due to rounding 1. Equity awards with target
Slide 9: Net Income (Loss) Reconciliation to Adjusted EBITDA
Net Income (Loss) Reconciliation to Adjusted EBITDA ($ millions) Q3 2024 Q3 2023 Net income (loss) $40 $(32) Add (subtract): Income tax expense 37 15 Interest expense, net 14 13 Depreciation expense 10 12 Amortization expense 29 33 EBITDA 131 41 Adjustments to reconcile to Adjusted EBITDA: Restructu
Slide 10: Net Income (Loss) Reconciliation to Adjusted EPS
Net Income (Loss) Reconciliation to Adjusted EPS ($ millions, except per share amounts) Q3 2024 Q3 2023 Net income (loss) $40 $(32) Net income attributable to non-controlling interests (0) (0) Reversal of amortization expense 29 33 Adjustment to reverse incremental depreciation expense from acquisit
Slide 11: Net Debt to Adjusted EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis
Net Debt to Adjusted EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis ($ millions) LTM Q3 YTD 2024 Q4 2023 2024 Net income $190 $77 $267 Add (subtract): (Income) loss from discontinued operations, net of tax (2) 1 (1) Income tax expense (benefit) 33 (40) (8) Interest expense, net 42 12 5
Slide 12: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended September 30, 2024 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Acquisitions Sales Growth Currency Growth Pricing Electronics 14% 0% 15% (5)% —% 9% Industrial & Specialty (3)% 2% 0% —% —% 0% Total
Slide 13: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation ($ millions) Q3 2024 Q3 2023 2024 Outlook Cash flows from operating activities $99 $87 ~$340-$360 Capital expenditures (13) (13) ~(60) Proceeds from disposal of property, plant and equipment — 1 — Free cash flow $86 $75 ~$280-$300 Note: Totals may not sum due to roundin
Slide 14: Non-GAAP Definitions
Non-GAAP Definitions Adjusted Earnings Per Share (EPS): Adjusted EPS is a key metric used by management to measure operating performance and trends as management believes the exclusion of certain expenses in calculating adjusted EPS facilitates operating performance comparisons on a period-to-period