Slide 1: Earnings Conference Call Fourth Quarter 2024
January 30, 2025 – 8:00am CT Earnings Conference Call Fourth Quarter 2024
Slide 2: Forward-Looking Statements and Non-GAAP Measures
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 general economic conditions and conditions in the particular markets in which we operate, changes in
Slide 3: Q4 and FY 2024 Performance Highlights
Q4 and FY 2024 Performance Highlights Q4 ‘24 FY ‘24 Commentary Revenue All in: +1% to $1.9B +1% to $7.7B ▪ Encouraging trends into 2025 with Organic growth(1) : +0.3% Flat broad-based top-line strength Commentary across the portfolio Bookings(2) Organic growth(2) : +7% +7% ▪ Continued positive order
Slide 4: Summary Corporate Q4 and Full Year Results
Summary Corporate Q4 and Full Year Results Q4 2024 FY 2024 Highlights Revenue change All-in +1% +1% ▪ Q4 FX impact: -0.3%. Acquisitions (Y-o-Y) Organic(1) +0.3% 0% (net of divestitures): +1% Bookings change All-in(2) +8% +7% ▪ Fifth consecutive quarter of Y-o-Y (Y-o-Y) Organic(2) +7% +7% organic boo
Slide 5: Segment Results
Segment Results Q4 2024 FY 2024 Revenue ($M) / Segment Revenue ($M) / Segment Segment Y-o-Y Earnings % / Y-o-Y Earnings % / Q4 Performance Commentary Organic(1) ∆ % bps ∆ Y-o-Y Organic(1)∆ % bps ∆ Y-o-Y ▪ Growth in vehicle aftermarket and fluid dispensing. Lower volumes in aerospace & $288 21% $1,20
Slide 6: Full Year 2024 Free Cash Flow and Adjusted Free Cash Flow
Full Year 2024 Free Cash Flow and Adjusted Free Cash Flow $M FY 2024 FY 2023 ∆ Net earnings 2,697 1,057 1,640 Earnings from discontinued operations, net (1,297) (113) (1,184) Gain on dispositions (598) — (598) D&A 338 305 33 Change in working capital (25) 131 (156) Change in other(1) (27) (160) 133
Slide 7: Broad-Based Bookings Momentum Into 2025
Broad-Based Bookings Momentum Into 2025 Consolidated Y-o-Y Organic Bookings (1) Growth Q4 ’24 Bookings(1) Detail $M ▪ Five consecutive quarters of Y-o-Y bookings(1) growth Organic Growth(1) Commentary ▪ Q4 ’24 book-to-bill(1) >1 DEP 276 +3% Double-digit growth in 60% aerospace & defense Double-digit
Slide 8: ~20% of Portfolio Expected to Grow Double Digits In Aggregate in '25
~20% of Portfolio Expected to Grow Double Digits In Aggregate in ‘25 Clean Energy Components Precision Components Single-Use Biopharma Liquid Cooling CO2 Systems ▪ Tailwinds across broader gas ▪ Resurgent US energy ▪ Robust outlook in new ▪ Strong demand for liquid ▪ Broad-based national retailer co
Slide 9: 2025 Segment Outlook
2025 Segment Outlook Demand Organic Segment Segment Trends Growth(1) Margin ∆ Commentary ▪ Growth in aerospace & defense. Stable volumes in automotive aftermarket. Performance DEP LSD levered to H2 on timing of aerospace & defense shipments ▪ Margin improvement on positive price-cost and operational
Slide 10: FY 2025 Guidance in-line with Preliminary Outlook from Last Quarter
FY 2025 Guidance in-line with Preliminary Outlook from Last Quarter Prelim. ’25 Outlook from Q3 ’24 Earnings 2025 Guidance Year-End 2024 Dry Powder $ in billions Organic Revenue 3% - 5% 3% - 5% ✓ Growth(1) 2-4% all-in growth Optional temporary investment grade leverage(2) for right opportunity Adjus
Slide 11: Appendix
Appendix 11
Slide 12: Q4 2024 Segment Earnings and Adj. Earnings from Cont. Ops.
Q4 2024 Segment Earnings and Adj. Earnings from Cont. Ops. Change in Total Segment Earnings(2) +$17M 24.2% 23.5% +60 bps 21.7% 22.2% ($M) 412 36 448 -8 25 6 21 -26 466 -37 429 TOTAL SEG. NON-ACQ. ADJ. DEP DCEF DII DPPS DCST ADJ. NON-ACQ. TOTAL SEG. EARNINGS D&A (1) EBITDA (2) EBITDA (2) D&A (1) EARN
Slide 13: Organic Revenue Bridges
Organic Revenue Bridges Segment Growth Factors Q4 2024 FY 2024 Organic Engineered Products 1.6 % 8.2% Clean Energy & Fueling 7.9 % 2.6 % Imaging & Identification 1.3 % 24% Pumps & Process Solutions 2.9 % 14% Climate & Sustainability Technologies (12.8) % (11.2)% Total organic 0.3 % —% Acquisitions 3
Slide 14: Organic Bookings Bridges
Organic Bookings Bridges Organic Acquisitions Dispositions Currency translation Total Qi 2024 Q2 2024 Q3 2024 a4 2024 FY 2024 Qi Q2 2023 2023 Q3 2023 Q4 2023 ai 2022 Q2 Q3 a4 2022. 2022-2022 Qi 2021 Q2 2021 Q3 2021 a4 2021 3.2 % 2.1% —% (0.2)% 11.5 % 2.4 % (3.0)% (0.7)% 51% 3.5% (2.9)% (0.1)% 65% 47
Slide 15: Q4 2023 to Q4 2024 Revenue and Bookings Bridges
Q4 2023 to Q4 2024 Revenue and Bookings Bridges Note: Numbers may not add due to rounding 15
Slide 16: Reconciliation of Earnings from Continuing Operations to Total Segment Earnings
Reconciliation of Earnings from Continuing Operations to Total Segment Earnings and Total Adjusted Segment EBITDA Note: Numbers may not add due to rounding 16
Slide 17: Reconciliation to Adjusted Earnings and Adjusted EPS from Continuing Operations
Reconciliation of Earnings from Continuing Operations to Adjusted Earnings from Continuing Operations and Adjusted EPS from Continuing Operations Note: Numbers may not add due to rounding 17
Slide 18: Reconciliation of Adjusted Free Cash Flow and EPS from Continuing Operations
Reconciliation of Adjusted Free Cash Flow and EPS from Continuing Operations to Adjusted EPS from Continuing Operations Note: Numbers may not add due to rounding (1) Cash taxes paid for gain on dispositions of De-Sta-Co in Q1 2024 and a minority owned equity method investment in Q3 2024 18
Slide 19: Non-GAAP Definitions
Non-GAAP Definitions Definitions of Non-GAAP Measures: The items described in our definitions herein, unless otherwise noted, relate solely to our continuing operations. Adjusted Earnings From Continuing Operations: is defined as earnings from continuing operations adjusted for the effect of purchas
Slide 20: Performance Measure Definitions
Performance Measure Definitions Definitions of Performance Measures: The items described in our definitions herein, unless otherwise noted, relate solely to our continuing operations. Bookings represent total orders received from customers in the current reporting period and exclude de-bookings rela
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