Woodward, Inc. · NASDAQ:WWD
Woodward — Q4 FY2011 Earnings Presentation
18 slides from Woodward's earnings presentation, Nov 18, 2011
Slide 1: FY 2011 Fourth Quarter Results
November 14, 2011 FY 2011 Fourth Quarter Results
Slide 2: Today's Agenda
Today's Agenda Highlights & Market Review Tom Gendron Financial Results & Outlook Bob Weber Q&A 2
Slide 3: Cautionary Statement
Cautionary Statement 3 Information in this conference call and slide presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including, but not limited to, statements regarding future sales, ear
Slide 4: Q4 FY 2011 Fiscal Highlights
Q4 FY 2011 Fiscal Highlights Net Sales of $489 million Up 19% YOY Earnings of $0.60 per diluted share, up from $0.47 last year 28% increase YOY Significant increases in Variable compensation R&D EBIT of $65 million Up 15% YOY Free cash flow of $52 million 4
Slide 5: Business Highlights - Aerospace
Business Highlights - Aerospace Aftermarket WWD commercial aftermarket +36% in Q4 Traffic remained solid Good exposure on A320, 777 fleets OEM Strong 2011 industry orders, production rates Ramping 787 and 747-8 deliveries WWD share gain with GEnx engine Regional & business jet - recovery 737 MAX & A
Slide 6: Business Highlights - Energy
Business Highlights - Energy Industrial Turbines & Compressors Improving OEM build rates Significant exposure to natural gas Gas-fueled electricity generation Gas production, compression, transportation Reciprocating Engines Power gen, natural resources, shipping Significant natural gas exposure, op
Slide 7: Woodward Business Summary
Woodward Business Summary Rising OEM production rates, equipment usage In Aerospace and Energy Woodward long-term investments Technology and capabilities Delivering share gains on next generation of OEM platforms 2012 outlook favorable Moderate growth rates in our markets Share gains support growth
Slide 8: Q4 Consolidated Results
Q4 Consolidated Results 8 * Earnings attributable to Woodward
Slide 9: Aerospace Q4 Results
Aerospace Q4 Results Revenues Improvement in Aerospace revenues Commercial Aftermarket Sales OEM Sales for Commercial and Business Jets Earnings Increased volumes & price increases, partially offset by Increased variable compensation Increased R&D for new platforms 9
Slide 10: Aerospace Segment - 2011 Sales
10 Aerospace Segment - 2011 Sales Civil 61% Military 39% Aftermarket 38% Original Equipment 62% Propulsion Control 56% Motion Control 44%
Slide 11: Energy Q4 Results
Energy Q4 Results Revenues Broad strength in control systems and components Industrial turbines, wind turbines, and reciprocating engines Earnings Volume increases and currency exchange benefit offset by Increased variable compensation Acquisition integration costs Increased R&D expenditures 11
Slide 12: Energy Segment - 2011 Sales
(CHART) 12 Energy Segment - 2011 Sales Reciprocating Engines 43% Wind 15%
Slide 13: Selected Financial Items - Q4
Selected Financial Items - Q4 13 * Gross margin defined as (Net Sales less Cost of Goods Sold) / (Net Sales); ** EBT defined as Net Earnings Before Taxes *** EBITDA reconciliation to Net Earnings and Free Cash Flow calculation are shown in the appendix
Slide 14: Outlook Fiscal 2012
Outlook Fiscal 2012 Revenue Between $1.85 and $1.95 billion Earnings per Diluted Share Between $2.20 and $2.35 per share 14
Slide 15: Appendix
M..woopwarbD Appendix
Slide 16: Q4 EBITDA, Free Cash Flow & Leverage Ratio
Q4 EBITDA, Free Cash Flow & Leverage Ratio * Non-US GAAP Measures: EBIT (Earnings Before Interest and Taxes), EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) and free cash flow are non-US GAAP financial measures. The use of these measures is not intended to be considered in i
Slide 17: Long Term Targeted Segment Operating Margins
Long Term Targeted Segment Operating Margins Aerospace Segment ~20% Energy Segment ~16% 17
Slide 18: W..woopwarD
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