Slide 1: Earnings Conference Call Third Quarter 2022
Earnings Conference Call Third Quarter 2022 October 20, 2022 – 8:00am CT Exhibit 99.2
Slide 2: Forward-Looking Statements and Non-GAAP Measures
2 Forward-Looking Statements and Non-GAAP Measures We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties and risks, including the impacts of coronavirus (COVID-19) on the global economy and on our customers, suppliers, employ
Slide 3: Q3 2022 Performance Highlights
3 Free Cash Flow(1) Sequentially +60 bps vs. Q2 ‘22 62% of adjusted net earnings(1) Revenue growth: 7% - 9% all-in; 8% - 10% organic(1) Adjusted diluted EPS(1): $8.40 - $8.50 Organic Revenue(1) Order rates normalizing; book-to-bill(2): 0.96Organic growth in four of five segments; one segment flat Ad
Slide 4: Summary Corporate Q3 Results
4 Summary Corporate Q3 Results Q3 2022 Highlights and Comments Revenue change (Y-o-Y) All-in Organic(1) 7% 9% Y-o-Y organic growth in four out of five segments Q3 FX impact: -5%; acquisitions (net of divestitures) +2.7% Bookings change (Y-o-Y) All-in(2) Organic(2) -10% -8% Q3 book-to-bill(2):
Slide 5: Segment Revenue and Earnings Margin Commentary
5 Segment Revenue ($M) / Y-o-Y Organic Change %(1) Segment Earnings Margin % ∆ Y-o-Y bps Performance Commentary DEP $517 18% 17.5% +250 bps Organic growth across all businesses; strong orders in waste handling and aerospace & defense Improved price-cost dynamics and volume more than offset ongoi
Slide 6: Revenue & Bookings
6 Revenue & Bookings (1) Non-GAAP measure (definition and/or reconciliation in appendix) (2) Acquisitions: $89M, dispositions: $34M Q3 2022 % of Revenue 8% 20% 3% 58% 11%ASIA REST OF WORLD EUROPE OTHER AMER. US -2% 13% 9% -6% 11% Q3 ’22 Organic Rev Growth(1) (3) Acquisitions: $83M, dispositions: $39
Slide 7: Year-to-Date Free Cash Flow
7 12.3% (1) Includes stock-based compensation, tax payment related to the sale of Unified Brands, non-cash foreign currency translation losses reclassified to earnings, and changes in other current and non-current assets and liabilities (2) Non-GAAP measures (definitions and/or reconciliations in ap
Slide 8: Backlogs Still Elevated Driven by Robust Demand and Supply Chain
8 DCST DOVER 1.1 0.7 0.2 0.4 0.7 (1) See performance measure definitions in appendix Note: Numbers may not add due to rounding 3.2 $B DEP Backlogs Still Elevated Driven by Robust Demand and Supply Chain DCEF DII DPPS Q3 ’22 Backlog(1) By Segment Backlog(1) % of LTM Revenue(1) Q3 ‘19 Q3 ‘22 Drivers o
Slide 9: FY 2022 Adj. EPS Guide up 11% Year-over-Year at Midpoint of Range
9 FY 2022 Adj. EPS Guide up 11% Year-over-Year at Midpoint of Range 0.13 0.85 – 0.95 Share Repurchases 2021 Adj. EPS Growth / Conversion (0.37) FX 0.09 7.63 ~0.23 DCEF Cost Actions(2) ~0.14 Corporate Expense, Interest, Taxes 2022E Adj. EPS 8.40 – 8.50 0.07 Adjusted EPS(1) ($/share) Expect EPS benefi
Slide 10: Appendix
10 Appendix
Slide 11: Q3 2022 Segment Earnings and Adjusted Net Earnings
11 +50 bps DPPSDEPSEGMENT EARNINGS DCEFNON-ACQ. D&A (1) DCSTADJ. EBITDA DII ADJ. EBITDA SEGMENT EARNINGS NON-ACQ. D&A (1) (1) Relates to PP&E and intangibles, and excludes amounts related to purchase accounting expenses and restructuring and other costs (2) Non-GAAP measures (definitions and/or reco
Slide 12: Organic Revenue and Bookings Bridges
12 Note: Numbers may not add due to rounding Organic Revenue and Bookings Bridges Segment Growth Factors Revenue Bookings Q3 2022 Q3 2022 Organic Engineered Products 17.6 % 0.8 % Clean Energy & Fueling (0.5) % (17.6) % Imaging & Identification 4.9 % 3.7 % Pumps & Process Solutions 1.9 % (12.2) % Cli
Slide 13: Q3 2021 to Q3 2022 Revenue and Bookings Bridges by Segment
13 Note: Numbers may not add due to rounding Q3 2021 to Q3 2022 Revenue and Bookings Bridges by Segment
Slide 14: Reconciliation of Net Earnings to Segment Earnings and Adjusted Segment EBITDA
14 Note: Numbers may not add due to rounding Reconciliation of Net Earnings to Segment Earnings and Adjusted Segment EBITDA (1) Other depreciation and amortization relates to property, plant, and equipment and intangibles, and excludes amounts related to purchase accounting expenses and restructurin
Slide 15: Reconciliation of Net Earnings to Adjusted Net Earnings and Diluted EPS
15 Note: Numbers may not add due to rounding Reconciliation of Net Earnings to Adjusted Net Earnings and Diluted EPS to Adjusted Diluted EPS
Slide 16: Backlog by Segment
16 Note: Numbers may not add due to rounding Backlog by Segment
Slide 17: Reconciliation of Free Cash Flow and EPS to Adjusted EPS
17 Note: Numbers may not add due to rounding Reconciliation of Free Cash Flow and EPS to Adjusted EPS
Slide 18: Non-GAAP Definitions
18 Non-GAAP Definitions Definitions of Non-GAAP Measures: Adjusted Net Earnings: is defined as net earnings adjusted for the effect of purchase accounting expenses, restructuring and other costs/benefits, Tax Cuts and Jobs Act, and gain/loss on dispositions. Adjusted Net Earnings Margin: is defined
Slide 19: Performance Measure Definitions
19 Performance Measure Definitions Definitions of Performance Measures: Bookings represent total orders received from customers in the current reporting period. This metric is an important measure of performance and an indicator of revenue order trends. Organic Bookings represent total orders receiv
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