CIRCOR International — Q3 2019 Earnings Presentation
12 slides from CIRCOR International's earnings presentation, Nov 6, 2019
Slide 1: Third Quarter 2019 Investor Review
Energy CIRCOR Aerospace & Defense Industrial Third Quarter 2019 Investor Review Presented November 6, 2019
Slide 2: Safe Harbor
van) Safe Harbor CIRCOR This presentation contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 24 E of the Secunties Exchange Act of 1934, as amended. Reliance should not be placed on forward-looking statements because they inv
Slide 3: Q3 Results
Q3 Results GIRSOR adjusted + Distributed GAAP __Adjusted* _AdjExDiv* _Valvest GAAP Adjusted" Ad Exoive orders w srry 28 cr Fo wt 27 sa ar a cary 2 a Pr Pay Gross Margin a 2 ~ 7 » 26 8 scan # 3 3 ra e a 7 pedal & restructuring charges (recovered) net ” z z E 3 z - Operating Income 2 26 26 2 ° 2 a Int
Slide 4: Q3 2019 Highlights
Q3 2019 Highlights (8 millions) 32018 Reported 03 2019 Reported 27 237 32018 Reported 03 2019 Reported 2s 26 0.1% 10.8% 5 2018Reported 03 2019 Reported * Divestitures include businesses sold prior tothe end of G2 2018 which are Reliability Services, Delden and Spence! Nicholson, Orders 5 | = | * 932
Slide 5: Industrial Segment Highlights
“NX Industrial Segment Highlights aces ($ millions) Orders Comments on YOY Results Q3 2019 Orders re [ee + Down primarily due to softness in large projects =) + OEM weakness in Europe offset by modest growth in N. America and Asia eporee—tepret cmos Octo + Strong global growth in aftermarket aiid Q3
Slide 6: Aerospace & Defense Segment Highlights
7X Aerospace & Defense Segment Highlights EURGOR ae] Orders Comments on YOY Results a a Q3 2019 Orders + Down due to timing of large orders in 2018 + YTD orders up 22% with book to bill ratio of over 1.25 eenoienepored =x organic 32019 neportad Revenue Q3 2019 Revenues 2 =a + Growth across all Comme
Slide 7: Energy Segment Highlights
7X Energy Segment Highlights Cheer (spinors) Orders Comments on YOY Results — ml Q3 2019 Orders 87 - = Down mainly due to a difficult com rae pare in Refinery a ‘Valves vs. prior year Gas aan a = ee Lame + Order pipeline of Refinery Valves remains strong albeit une So ico comer: lumpy Revenue ‘i Q3
Slide 8: Q3 P&L Selected Items
ZN Q3 P&L Selected Items Cpees ($ millions, except EPS) sin ome Sec aa cose _seed__Aded sales a a 7 Pr ‘operating income a 2 2s ° 6 5 Interest xpense 2 2 au “ ther income) expense a o a : a Pretax ry = 5 @ 16 2 “ox (provison benefit s 6 a io el 2 Net (Loss income from continuing operations ea = B 0
Slide 9: Cash Flow and Debt Position
“Nn Cash Flow and Debt Position WREee (S millions) Q3 2019 Q3 2018 Cash Flow from Operations 8 24 Capital Expenditures, net 1 (6) Free Cash Flow 9 19 31-Dec-18 Total Debt 659 807 Cash and Cash Equivalents 69 69 Net Debt 590 739
Slide 10: End Market Overview
End Market Overview eZ Segment Trends Outlook Industrial Muted growth in global capital projects driving lower demand for machinery ‘Strength in Asia, modest growth in N. America, weakness in Europe Energy efficiency initiatives driving equipment growth Strength in aftermarket globally ‘Shipbuilding
Slide 11: Q4 2019 Guidance as of November 6, 2019
Q4 2019 Guidance as of November 6, 2019 e (millions, except per share amounts) Net Revenue Expected Adjusted Earnings Per Share Expected Special / Restructuring Charges per share: - Special & Restructuring Charges - Special Charges - M&A amortization related
Slide 12: Use of Non-GAAP Financial Measures
i) Use of Non-GAAP Financial Measures Cazes ‘Wain this presentation the Company uses non-GAAP financial measures, including Adjusted operating income, Adjusted operating margin, Adjusted net income, Adjusted earings per share (diluted), EBITDA, Adjusted EBITDA, net deb, ree cash fow and organic grow