Slide 1: Q2 2023 Earnings Conference Call
Q2 2023 EARNINGS CONFERENCE CALL Conference Call Dial-in numbers: August 3, 2023 (800) 274-8461 (domestic) (203) 518-9843 (international) Conference code: CWQ223 Q2 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 Second Quarter Performance Driving Confidence in FY2023 Outlook
STRONG SECOND QUARTER PERFORMANCE DRIVING CONFIDENCE IN FY2023 OUTLOOK Second Quarter 2023 Highlights ▪ Sales of $704M, up 16% overall (12% organic growth) – A&D markets up 23%, reflected continued easing in defense electronics supply chain and strong growth in Commercial Aerospace ▪ Operating Incom
Slide 4: Second Quarter 2023 Financial Review
SECOND QUARTER 2023 FINANCIAL REVIEW Q2’23 Q2’22 ($ in millions) Adjusted Adjusted Change Key Drivers ▪ Strong Commercial Aerospace OEM growth; Solid growth in General Industrial (industrial automation Aerospace & Industrial $226 $209 8% and services) and in defense markets (actuation equipment) ▪ S
Slide 5: 2023 End Market Sales Growth Guidance
Updated (in blue) 2023 END MARKET SALES GROWTH GUIDANCE (As of August 2, 2023) 2023E Growth 2023E Growth vs 2022 vs 2022 2023E (Prior) (Current) % Sales Key Drivers ▪ Solid growth in defense electronics revenues on various C5/ISR programs Aerospace Defense 9% - 11% 9% - 11% 20% ▪ Contribution from a
Slide 6: 2023 Financial Guidance by Segment
2023 FINANCIAL GUIDANCE (As of August 2, 2023) Updated (in blue) 2023E 2023E Change vs Adjusted Adjusted 2022 Key Drivers ($ in millions) (Prior) (Current) Adjusted ▪ Strong demand in Commercial Aerospace and solid growth in General Industrial, partially offset by Aerospace & Industrial $845 - 860 $
Slide 7: 2023 Financial Guidance
2023 FINANCIAL GUIDANCE (As of August 2, 2023) Updated (in blue) 2023E 2023E Adjusted Adjusted Change ($ in millions, except EPS) (Prior) (Current) vs 2022 Total Sales $2,655 - 2,710 $2,730 - 2,790 7% - 9% Operating Income Growth > Sales Growth (aligns w/ Investor Day) Total Operating Income $463 -
Slide 8: Curtiss-Wright Remains Well Positioned to Deliver Long-Term Profitable Growth
CURTISS-WRIGHT REMAINS WELL POSITIONED TO DELIVER LONG-TERM PROFITABLE GROWTH ▪ FY23 Sales growth of 7% - 9% reflects strength of combined and well-integrated portfolio – Growing backlog and improving supply chain provides visibility in achieving long-term outlook ▪ Maintaining outlook for solid Ope
Slide 9: Appendix
Appendix Q2 2023 Earnings Presentation 9
Slide 10: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved tran
Slide 11: Second Quarter 2023: End Market Sales Growth
SECOND QUARTER 2023: END MARKET SALES GROWTH Q2’23 Q2’22 ($ in millions) Key Drivers Adjusted Adjusted Change Higher revenues of arresting systems equipment (acquisition), as well as embedded Aerospace Defense $132 $95 40% computing and flight test instrumentation products Ground Defense $71 $44 60%
Slide 12: 2023E End Market Sales Waterfall
FY’23 Guidance: 2023E END MARKET SALES WATERFALL (as of August 2, 2023) Overall UP 7 - 9% A&D Markets UP 9 - 11% Total 2023 CW End Markets Comm’l Markets UP 3 - 5% $2.73B - 2.79B Aerospace & Defense Markets Commercial Markets 67% $1.84B 33% $0.92B Naval Commercial Aerospace Power & Process General I