Slide 1: Q1 2022 Earnings Conference Call
Q1 2022 EARNINGS CONFERENCE CALL Listen-Only dial-in numbers: Conference Call Replay: MAY 5, 2022 (844) 220-4970 (domestic) (855) 859-2056 (domestic) (262) 558-6349 (international) (404) 537-3406 (international) Conference ID: 6928819 Conference ID: 6928819 Q1 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: Solid First Quarter Performance Supports Full-Year 2022 Outlook
SOLID FIRST QUARTER PERFORMANCE SUPPORTS FULL-YEAR 2022 OUTLOOK First Quarter 2022 Highlights Full-Year 2022 Guidance ▪ Sales of $559M impacted by timing of Defense revenues ▪ Maintaining FY’22 Adjusted guidance, including: – Overall results reflect strong demand in Commercial Aerospace, – 3% - 5% S
Slide 4: First Quarter 2022 Financial Review
FIRST QUARTER 2022 FINANCIAL REVIEW Q1’22 Q1’21 Chg vs. ($ in millions) Adjusted Adjusted Q1’21 Key Drivers Aerospace & Industrial $191 $178 8% ▪ Solid growth in commercial aerospace (narrowbody OEM) and industrial (off-highway vehicles) ▪ Timing of defense sales due to ongoing supply chain headwind
Slide 5: 2022 End Market Sales Growth Guidance
2022 END MARKET SALES GROWTH GUIDANCE (As of May 4, 2022) 2022E Growth 2022E Expecting Solid Organic Growth in All A&D and vs 2021 % Sales Commercial Markets Aerospace Defense 0% - 2% 18% ▪ Favorable growth on C5ISR programs (expecting strong 2nd half) Ground Defense 2% - 4% 9% ▪ Higher tactical com
Slide 6: 2022 Financial Guidance
2022 FINANCIAL GUIDANCE (As of May 4, 2022) % Change ($ in millions) 2022E Adjusted vs 2021 Aerospace & Industrial $805 - 825 4% - 6% ▪ Strong growth in Comm’l Aero and General Industrial markets; partially offset by lower F-35 ▪ A&D sales growth weighted to H2; Caution remains on supply chain Defen
Slide 7: 2022 Financial Guidance (Updated)
2022 FINANCIAL GUIDANCE (As of May 4, 2022) Updated (in blue) % Change ($ in millions, except EPS) 2022E Adjusted vs 2021 Total Sales $2,530 - 2,580 3% - 5% Total Operating Income $432 - 446 3% - 6% Other Income $17 - 18 ▪ Higher Discount Rates Interest Expense ($40 - 41) Diluted EPS $8.05 - 8.25 10
Slide 8: Curtiss-Wright Remains Well Positioned to Deliver Profitable Growth in 2022
CURTISS-WRIGHT REMAINS WELL POSITIONED TO DELIVER PROFITABLE GROWTH IN 2022 1 ▪ Sales growth of 3% - 5%, driven by increases in all A&D and Commercial markets – Remain cautious on supply chain impact on timing of Defense revenues ▪ Continued Operating Margin expansion, Expect 10 - 30 bps increase to
Slide 9: Appendix
Appendix Q1 2022 Earnings Presentation 9
Slide 10: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved tran
Slide 11: First Quarter 2022: End Market Sales Growth
FIRST QUARTER 2022: END MARKET SALES GROWTH Q1’22 Q1’21 Chg vs. ($ in Millions) Key Drivers Adjusted Adjusted Q1’22 Timing of sales on various programs, as certain revenues shifted out of Q1’22 due to Aerospace Defense $98 $111 (12%) supply chain headwinds Timing of sales on tactical communications
Slide 12: 2022E End Market Sales Waterfall
FY’22 Adjusted Guidance: 2022E END MARKET SALES WATERFALL (as of May 4, 2022) Overall UP 3 - 5% A&D Markets UP 2 - 4% Total 2022 CW End Markets Comm’l Markets UP 4 - 6% $2.53B - 2.58B Aerospace & Defense Markets Commercial Markets 66% $1.69B 34% $0.86B Naval Commercial Aerospace Power & Process Gene