Slide 1: Q3 2023 Earnings Conference Call
Q3 2023 EARNINGS CONFERENCE CALL Conference Call Dial-in numbers: November 2, 2023 (800) 274-8461 (domestic) (203) 518-9843 (international) Conference code: CWQ323 Q3 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: Curtiss-Wright Delivered Strong Q3 Results and Increased FY2023 Outlook
CURTISS-WRIGHT DELIVERED STRONG Q3 RESULTS AND INCREASED FY2023 OUTLOOK Third Quarter 2023 Highlights ▪ Sales of $724M, up 15% overall (14% organic growth) – A&D markets up 18%; Strong demand for defense electronics and arresting systems equipment; Mid-teens Comm’l Aerospace growth – Commercial mark
Slide 4: Third Quarter 2023 Financial Review
THIRD QUARTER 2023 FINANCIAL REVIEW Q3’23 Q3’22 ($ in millions) Adjusted Adjusted Change Key Drivers ▪ Strong Commercial Aerospace OEM growth; Solid growth in General Industrial (industrial automation Aerospace & Industrial $220 $213 3% and services); Lower YOY sales in defense markets ▪ Strong grow
Slide 5: 2023 End Market Sales Growth Guidance
Updated (in blue) 2023 END MARKET SALES GROWTH GUIDANCE (As of November 1, 2023) 2023E Growth 2023E Growth vs 2022 vs 2022 2023E (Prior) (Current) % Sales Key Drivers ▪ Strong contribution from prior year arresting systems acquisition (completed mid-2022) Aerospace Defense 9% - 11% 11% - 13% 19% ▪ S
Slide 6: 2023 Financial Guidance (segments)
2023 FINANCIAL GUIDANCE (As of November 1, 2023) Updated (in blue) 2023E 2023E Adjusted Adjusted Change vs Key Drivers ($ in millions) (Prior) (Current) 2022 Adjusted ▪ Strong demand in Commercial Aerospace and solid growth in General Industrial, partially offset by reduced Aerospace & Industrial $8
Slide 7: 2023 Financial Guidance
2023 FINANCIAL GUIDANCE (As of November 1, 2023) Updated (in blue) 2023E 2023E Change Adjusted Adjusted vs 2022 ($ in millions, except EPS) (Prior) (Current) Adjusted Total Sales $2,730 - 2,790 $2,765 - 2,815 8% - 10% Operating Income Growth > Sales Growth (aligns w/ Investor Day) Total Operating In
Slide 8: Curtiss-Wright Remains Well Positioned for Long-Term Profitable Growth
CURTISS-WRIGHT REMAINS WELL POSITIONED FOR LONG-TERM PROFITABLE GROWTH ▪ Remain on track to deliver strong FY23 performance – Sales growth of 8% - 10% (up 7% - 9% organic) with increases in all A&D and Commercial markets – Maintaining outlook for Operating Margin expansion (17.4% - 17.6%, up 10 - 30
Slide 9: Appendix
Appendix Q3 2023 Earnings Presentation 9
Slide 10: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved tran
Slide 11: Third Quarter 2023: End Market Sales Growth
THIRD QUARTER 2023: END MARKET SALES GROWTH Q3’23 Q3’22 ($ in millions) Key Drivers Adjusted Adjusted Change Higher revenues of embedded computing and flight test instrumentation products, and Aerospace Defense $148 $114 29% strong demand for arresting systems equipment Ground Defense $83 $55 51% Hi
Slide 12: 2023E End Market Sales Waterfall
FY’23 Guidance: 2023E END MARKET SALES WATERFALL (as of November 1, 2023) Overall UP 8 - 10% (7 - 9% Org) A&D Markets UP 10 - 12% Total 2023 CW End Markets Comm’l Markets UP 3 - 5% $2.765B - 2.815B Aerospace & Defense Markets Commercial Markets 67% $1.86B 33% $0.92B Naval Commercial Aerospace Power