Slide 1: Q1 2024 Earnings Conference Call
Q1 2024 EARNINGS CONFERENCE CALL Conference Call Dial-in numbers: May 2, 2024 (800) 225-9448 (domestic) (203) 518-9708 (international) Conference code: CWQ124 Q1 2024 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 Start to 2024; Raised Full-Year 2024 Outlook
STRONG START TO 2024; RAISED FULL-YEAR 2024 OUTLOOK First Quarter 2024 Highlights ▪ Sales of $713M, up 13% overall – Aerospace & Defense (A&D) markets up 20%; Strong growth in defense electronics (embedded computing and tactical communications), arresting systems and Commercial Aerospace – Commercia
Slide 4: First Quarter 2024 Financial Review
FIRST QUARTER 2024 FINANCIAL REVIEW Q1’24 Q1’23 ($ in millions) Adjusted Adjusted Change Key Drivers ▪ Strong Commercial Aerospace OEM growth and increased development of actuation equipment in Aerospace & Industrial $219 $202 8% Aerospace Defense; Partially offset by modest decline in General Indus
Slide 5: 2024 End Market Sales Growth Guidance
2024 END MARKET SALES GROWTH GUIDANCE (As of May 1, 2024) Updated (in blue) 2024E Growth 2024E Growth ($ in Millions) vs 2023 vs 2023 2024E (Prior) (Current) % Sales Key Drivers ▪ Strong defense electronics revenue growth on various C5/ISR programs (fighter jets and Aerospace Defense 5% - 7% 6% - 8%
Slide 6: 2024 Financial Guidance
2024 FINANCIAL GUIDANCE (As of May 1, 2024) Updated (in blue) 2024E 2024E Change vs Key Drivers ($ in millions) (Prior) (Current) 2023 Adjusted Aerospace & Industrial $915 - 930 $915 - 930 3% - 5% ▪ Strong LDD growth in Commercial Aerospace and LSD growth in Industrial markets ▪ Defense market growt
Slide 7: 2024 Financial Guidance
2024 FINANCIAL GUIDANCE (As of May 1, 2024) Updated (in blue) Change 2024E 2024E vs 2023 Key Drivers ($ in millions, except EPS) (Prior) (Current) Adjusted Total Sales $2,960 - 3,010 $2,985 - 3,035 5% - 7% Continued focus on generating profitable growth Total Operating Income $514 - 528 $518 - 533 5
Slide 8: Acquisition of WSC Expands Global Commercial Nuclear Portfolio
ACQUISITION OF WSC EXPANDS GLOBAL COMMERCIAL NUCLEAR PORTFOLIO Purchase Price $34M (cash) ▪ April 2024: Completed Acquisition of WSC, Inc. P / EBITDA Multiple ~9.5x NTM – A leading supplier of state-of-the-art power plant control room simulation technology 2023 Sales ~$15M – Strong global installed
Slide 9: Curtiss-Wright Is Building Momentum
CURTISS-WRIGHT IS BUILDING MOMENTUM ▪ Successful execution of Pivot to Growth strategy driving strong FY24 outlook – Sales growth of 5% - 7% driven by increases in all A&D and Commercial markets – Operating Margin of 17.4% - 17.6%, flat to up 20 bps, while supporting incremental R&D investments – Ta
Slide 10: Appendix
Appendix Q1 2024 Earnings Presentation 10
Slide 11: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved tran
Slide 12: First Quarter 2024: End Market Sales Growth
FIRST QUARTER 2024: END MARKET SALES GROWTH ($ in millions) Key Drivers Q1’24 Q1’23 Change Strong demand for embedded computing equipment and higher revenues of arresting Aerospace Defense $132 $100 32% systems equipment Ground Defense $91 $66 37% Higher tactical communications equipment revenues Hi
Slide 13: 2024E End Market Sales Waterfall
FY’24 Guidance: 2024E END MARKET SALES WATERFALL (as of May 1, 2024) Overall UP 5 - 7% A&D Markets UP 6 - 8% Total 2024 CW End Markets Comm’l Markets UP 2 - 4% $2.985B - 3.035B Aerospace & Defense Markets Commercial Markets 68% $2.04B 32% $0.97B Naval Commercial Aerospace Power & Process General Ind