Woodward, Inc. · NASDAQ:WWD
Woodward — Q1 FY2013 Earnings Presentation
17 slides from Woodward's earnings presentation, Jan 23, 2013
Slide 1: FY 2013 First Quarter Results
January 22, 2013 FY 2013 First Quarter Results
Slide 2: Today's Agenda
Today's Agenda Highlights & Market Review Tom GendronFinancial Results & Outlook Bob WeberQ&A 2
Slide 3: Cautionary Statement
Cautionary Statement 3 Information in this conference call and slide presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including, but not limited to, statements regarding future sales, ear
Slide 4: Fiscal Highlights
Q1 FY 2013 Fiscal Highlights 4 Net Sales of $408 millionComparable to prior year quarterEarnings of $0.39 per diluted shareCompared to $0.40 last yearEBIT of $45 millionCompared to $46 million last yearFree cash flow of $10 millionUp $25 million YOY
Slide 5: Business Highlights - Aerospace
Business Highlights - Aerospace Acquisition of thrust reverser actuation systems businessSee following slidesAftermarketCommercial aftermarket down ~5% in Q1 FY13 versus prior year Q1Traffic growth remains solidFavorable fleet dynamicsOEMRamping GenX deliveriesRotorcraft market reboundingMilitaryStr
Slide 6: Integrated Propulsion Systems
6 Integrated Propulsion Systems Future Aerospace trendGreater engine/nacelle/airframe integrationBenefits lmproved fuel burnLower weight and costReduced dragReduced noise and maintenance Variable exhaust nozzle actuation Thrust reverser actuation Cowl door actuation Streamlined nacelle profile Engin
Slide 7: Integrated Propulsion Systems Channel Strategy
7 Integrated Propulsion Systems 777-8X Key Channel StrategyLeveraging Woodward's Tier One positions and partnering opportunitiesMore integrated solutionsOptimize Propulsion and Motion Control strengthsApply technology and R&D approach Turbine OEMs Positioning for IPS
Slide 8: Duarte Acquisition
Duarte Acquisition Thrust Reverser Actuation Systems market leaderBoeing, Safran and GEKey current programs737, 777, 747, G650, E170/190 & othersNew wins737 MAX, A320neo (LEAP)Future Integrated Propulsion Systems growth
Slide 9: Business Highlights - Energy
Business Highlights - Energy Natural GasContinued growth due to availability and pricingUnstable Economic EnvironmentCompanies and governments hesitant to make investments due to riskImpacts large fuel systems where significant investment is requiredRenewable EnergyNorth American wind sales down sig
Slide 10: Consolidated Results
Q1 FY 2013 Consolidated Results 10
Slide 11: Aerospace Results
Aerospace Q1 FY 2013 Results 11 RevenuesCommercial OEM and strong military aftermarketEarningsHigher volume Lower variable compensationPartially offset by expenses associated with improved manufacturing capacity and capability
Slide 12: Energy Results
Energy Q1 FY 2013 Results 12 RevenuesStrong sales of compressed natural gas systemsOffset by declines in North American wind, and Softness in other reciprocating engines and industrial turbine systemsEarningsVolume decreasesPartially offset by reduced variable compensation, and Improved product pric
Slide 13: Selected Financial Items
Selected Financial Items - Q1 FY 2013 13 * Gross margin defined as (Net Sales less Cost of Goods Sold) / (Net Sales);** EBT defined as Net Earnings Before Taxes *** EBITDA reconciliation to Net Earnings and Free Cash Flow calculation are shown in the appendix
Slide 14: Outlook Fiscal 2013
Outlook 14 Fiscal 2013RevenueBetween $1.9 and $2.0 billionIncludes recent acquisitionEarnings per Diluted ShareBetween $2.22 and $2.42 per shareApproximately $0.07 per share effect of the fiscal year 2012 retroactive impact of the U.S. R&E credit for fiscal 2013 included
Slide 15: Appendix
woo ARD aerospace Appendix ilo ent 1 whieh te adessed and may contain information hatiste Confidential andor Proprietary Inormatin of ation of ap " th recipient or an employee or agent elverytatne thatany dissemination citbut ving oftismessageiestty prohibited andyouarerequesteatonotly us “Always on
Slide 16: EBITDA, Free Cash Flow & Leverage Ratio
Q1 FY 2013 EBITDA, Free Cash Flow & Leverage Ratio * Non-US GAAP Measures: EBIT (Earnings Before Interest and Taxes), EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) and free cash flow are non-US GAAP financial measures. The use of these measures is not intended to be conside
Slide 17: pPerformance
pPerformance — ova glndependent eas 2 jecthicalstrong fesitenzie Partner ears = R@Nable! Growing feat = Focused!!! Sega Ss Customer Tradition!