Slide 1: Q3 2022 Earnings Conference Call
Q3 2022 EARNINGS CONFERENCE CALL Conference Call Dial-in numbers: NOVEMBER 3, 2022 (800) 245-3047 (domestic) (203) 518-9765 (international) Conference code: CWQ322 Q3 2022 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 Solid Third Quarter Results with Strong Order Growth
CURTISS-WRIGHT DELIVERED SOLID THIRD QUARTER RESULTS WITH STRONG ORDER GROWTH Third Quarter 2022 Highlights Updated Full-Year 2022 Guidance ▪ Sales up 3% overall to $631M ▪ Expect 2% - 4% Sales growth – Strong demand in Nuclear aftermarket, Process and General – Ongoing global supply chain challenge
Slide 4: Third Quarter 2022 Financial Review
THIRD QUARTER 2022 FINANCIAL REVIEW Q3’22 Q3’21 Chg vs. ($ in millions) Adjusted Adjusted Q3’21 Key Drivers ▪ Strong demand in Commercial Aerospace (narrow/widebody OEM) Aerospace & Industrial $213 $196 9% ▪ Double-digit growth in General Industrial (industrial vehicles and surface treatment service
Slide 5: 2022 End Market Sales Growth Guidance
2022 END MARKET SALES GROWTH GUIDANCE (As of November 2, 2022) Updated (in blue) 2022E Growth 2022E Growth vs 2021 vs 2021 2022E (Prior) (Current) % Sales ▪ Contribution from arresting systems acquisition; Timing of defense electronics Aerospace Defense 9% - 11% 3% - 5% 19% revenues Ground Defense (
Slide 6: 2022 Financial Guidance
2022 FINANCIAL GUIDANCE (As of November 2, 2022) Updated (in blue) 2022E Adjusted 2022E Adjusted % Change ($ in millions) (Prior) (Current) vs 2021 Aerospace & Industrial $820 - 840 $820 - 840 6% - 8% ▪ Strong growth in Commercial Aerospace and General Industrial markets ▪ A&D sales growth impacted
Slide 7: 2022 Financial Guidance
2022 FINANCIAL GUIDANCE (As of November 2, 2022) Updated (in blue) 2022E Adjusted 2022E Adjusted % Change ($ in millions, except EPS) (Prior) (Current) vs 2021 Total Sales $2,570 - 2,620 $2,525 - 2,575 2% - 4% Total Operating Income $439 - 452 $433 - 444 3% - 6% Growth in operating income exceeds sa
Slide 8: Curtiss-Wright's Long-Term Opportunity to Support Gen IV Advanced Nuclear Reactors
CURTISS-WRIGHT’S LONG-TERM OPPORTUNITY TO SUPPORT GEN IV ADVANCED NUCLEAR REACTORS X-ENERGY PREFERRED STRATEGIC SUPPLIER AGREEMENT NUCLEAR HAS STRONG U.S. GOVERNMENT SUPPORT ▪ Sept’22: Signed agreement to advance the deployment of ▪ Strong public and bi-partisan government support (e.g., ARDP, the X
Slide 9: Curtiss-Wright Remains Well Positioned for Long-Term Profitable Growth
CURTISS-WRIGHT REMAINS WELL POSITIONED FOR LONG-TERM PROFITABLE GROWTH ▪ Growing order book and strong backlog provide visibility and confidence in long-term outlook – FY23 U.S. and NATO defense budget outlooks provide optimism for multi-year growth in defense – Commercial markets continue to benefi
Slide 10: Appendix
Appendix Q3 2022 Earnings Presentation 10
Slide 11: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved tran
Slide 12: Third Quarter 2022: End Market Sales Growth
THIRD QUARTER 2022: END MARKET SALES GROWTH Q3’22 Q3’21 Chg vs. ($ in millions) Key Drivers Adjusted Adjusted Q3’21 Higher revenues of arresting systems equipment (acquisition); more than offset by lower Aerospace Defense $114 $117 (2%) embedded computing and flight test equipment revenues on variou
Slide 13: 2022E End Market Sales Waterfall
FY’22 Adjusted Guidance: 2022E END MARKET SALES WATERFALL (as of November 2, 2022) Overall UP 2 - 4% A&D Markets UP 1 - 3% Total 2022 CW End Markets Comm’l Markets UP 6 - 8% $2.525B - 2.575B Aerospace & Defense Markets Commercial Markets 66% $1.67B 34% $0.88B Naval Commercial Aerospace Power & Proce