Teledyne Technologies Incorporated · NYSE:TDY
Teledyne Technologies — Investor Presentation (May 2024)
26 slides from Teledyne Technologies's investor presentation, May 2024
Slide 1: Teledyne Technologies Investor Presentation May 2024
Teledyne Technologies INVESTOR PRESENTATION | MAY 2024 1
Slide 2: Cautionary Statement Regarding Forward Looking Statements
Cautionary Statement Regarding Forward Looking Statements Teledyne’s investor presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, with respect to management’s beliefs about the financial condition, results of operations and businesses
Slide 3: Teledyne: Enabling Technologies to Sense, Analyze and Distribute Information
Teledyne: Enabling Technologies to Sense, Analyze and Distribute Information 3
Slide 4: Teledyne
Teledyne • Global sensing and decision-support technology company • Broad, balanced portfolio of highly engineered products • Proven track record; hands-on management; consistent, predictable performance • Further opportunities for margin improvement • Compound growth in earnings and cash flow • Est
Slide 5: Teledyne Markets; Global Presence
Teledyne Markets; Global Presence Sales of $5.64 Billion(a) (a) Represents approximate 2024 revenue as discussed by management on the company’s earnings release conference Markets(b) Sales by Geography(b) call on April 24, 2024 (b) Approximate sales percentage by end market and geography for the fir
Slide 6: Teledyne's Transformation
Teledyne’s Transformation (a) (a) 2000 2010 2024 $657 Million $1.64 Billion $5.64 Billion 37% 7% 32% 24 % 6% 55% Ae ro sp ac e 4% 7% 7% Cast in g s Ae ro sp ac e 34 % 33% En gin e s 17% 1% 14 % Prin t e d 19% Ae ro sp ac e Circ u it s En gin e s 3% Prin t e d Circ u it s In st ru m e n t at io n Dig
Slide 7: History of Focused, Successful Acquisitions
History of Focused, Successful Acquisitions Electronic Instrumentation Digital Imaging Aerospace & Defense Electronics Engineered Systems 20 0 1 20 0 5 20 0 9 20 13 20 17 20 21 20 23 20 24 $10 Million $100 Million $1.0 Billion 70 Acquisitions; $11.9 Billion in Pending Cumulative Consideration 7
Slide 8: Continuous Improvement
Continuous Improvement(a) Gross Margin(b) EBITDA Marg in (c) (a) 2009 – 2012 represent data from 48% 28 % continuing operations 44% 24 % (b) Represents gross margin as filed in 40% historical SEC filings, which do not 20 % reflect ASU No. 2017-07: Improving 36 % the Presentation of Net Periodic 16 %
Slide 9: Revenue History
Revenue History (a) ($ in millions) $ 6,000 (b) $5,636 ~$5,640 5,500 Digital Imaging $5,459 Instrumentation (a) Excludes the former Aerospace Engines & Components segment, which was sold 5,000 Aerospace & Defense Electronics on April 19, 2011, in all years $4,614 (b) Represents approximate revenue a
Slide 10: Continuous EPS Growth
Continuous EPS Growth (a) ($ per share) (a) Represents total GAAP EPS for 2002 through 2008 and 2013 through 2022, (f) and GAAP EPS from continuing $ 20.00 $19.69 (g) operations for 2001 and 2009 through $19.35 2012 (e) 19.00 $18.19 (b) Non-GAAP EPS excludes pretax charges 18.00 $16.86 (d) $18.49 re
Slide 11: Consistent Cash Flow
Consistent Cash Flow ($ in millions) (a) Adjusted Free Cash Flow (a non-GAAP $ 1,0 0 0 (d) measure) represents Cash from $943 Operating Activities less purchases of property, plant and equipment, 90 0 $868 (c) and excludes voluntary pension (b) contributions but includes proceeds $795 pursuant to a
Slide 12: Balance Sheet and Available Liquidity
Balance Sheet and Available Liquidity ($ in m illio n s) Q1 2024 Credit Ratings Moody’s Baa3 Cash $ 9 12.4 S&P BBB Fitch BBB De b t 3,24 6 .3 Sto ckh o ld e rs’ Eq u ity 9,328 .0 To tal Cap italizatio n $ 12,574 .3 Availab le Liq u id ity(a) $ 2,0 4 0 .6 (a) Represents cash of $912.4 million plus $1
Slide 13: End-Use Markets and Main Applications
End-Use Markets and Main Applications HEALTHCARE ENERGY & INSPECTION INFRASTRUCTURE Semiconductor and Bio-MEMS Offshore Energy Electronics Endoscopy Sensors Subsea Infrastructure Battery Inspection Ophthalmology SPACE Construction & Mining SAFETY & Factory Condition Radiotherapy Utilities SECURITY M
Slide 14: Healthcare
Healthcare HEALTHCARE DEFENSE SPACE INFRASTRUCTURE TEST & MEASUREMENT SAFETY & SECURITY INSPECTION MARITIME Bio-MEMS, Endoscopy Sensors, Ophthalmology, Radiotherapy, X-Ray Detection 14
Slide 15: Defense & Aerospace
Defense & Aerospace HEALTHCARE DEFENSE SPACE INFRASTRUCTURE TEST & MEASUREMENT SAFETY & SECURITY INSPECTION MARITIME Defense Electronics, Surveillance Systems, Unmanned Air and Land Vehicles, Commercial Aircraft Avionics 15
Slide 16: Space
Space HEALTHCARE DEFENSE SPACE INFRASTRUCTURE TEST & MEASUREMENT SAFETY & SECURITY INSPECTION MARITIME Space-based Imaging, Radiation-hardened Electronics, Satellite Communication Subsystems 16
Slide 17: Energy & Infrastructure
Energy & Infrastructure HEALTHCARE DEFENSE SPACE INFRASTRUCTURE TEST & MEASUREMENT SAFETY & SECURITY INSPECTION MARITIME Offshore Energy, Subsea Infrastructure, Construction & Mining, Utilities 17
Slide 18: Test & Measurement
Test & Measurement HEALTHCARE DEFENSE SPACE INFRASTRUCTURE TEST & MEASUREMENT SAFETY & SECURITY INSPECTION MARITIME Semiconductor Development, Environmental Testing, Network Analyzers, Laboratory Instruments 18
Slide 19: Safety & Security
Safety & Security HEALTHCARE DEFENSE SPACE INFRASTRUCTURE TEST & MEASUREMENT SAFETY & SECURITY INSPECTION MARITIME Air Quality and Safety, Process Gas Sensing, Perimeter Security Traffic Control, Automotive Safety 19
Slide 20: Inspection
Inspection HEALTHCARE DEFENSE SPACE INFRASTRUCTURE TEST & MEASUREMENT SAFETY & SECURITY INSPECTION MARITIME Semiconductor and Electronics, Battery Inspection, Factory Condition Monitoring, Food Inspection 20
Slide 21: Maritime
Maritime HEALTHCARE DEFENSE SPACE INFRASTRUCTURE TEST & MEASUREMENT SAFETY & SECURITY INSPECTION MARITIME Ocean Science, Unmanned Underwater Vehicles, Underwater Imaging, Navigation Systems 21
Slide 22: Goal to Reduce Scope 1 and Scope 2 Combined Emissions, Divided by Sales
Teledyne: Goal to Reduce Scope 1 and Scope 2 Combined Emissions, Divided by Sales, 40% from 2020 to 2040 22
Slide 23: Explanation of Non-GAAP Financial Measures
Teledyne Technologies Incorporated Explanation of Non-GAAP Financial Measures We report our financial results in accordance with GAAP. However, management believes that, in order to more fully understand our short-term and long-term financial and operational trends, and to aid in comparability with
Slide 24: Reconciliation of Non-GAAP Financial Measures (cont…)
Teledyne Technologies Incorporated Reconciliation of Non-GAAP Financial Measures (cont…) Management excludes the effect of each of the acquisition related items identified below to arrive at the applicable non-GAAP financial measure referenced in the previous tables for the reasons set forth below w
Slide 25: Reconciliation of Non-GAAP Financial Measures
Teledyne Technologies Incorporated Reconciliation of Non-GAAP Financial Measures The following tables set forth a reconciliation of net income and operating margin provided in acordance with GAAP to comparable results that are non-GAAP. Reconciliation of GAAP to Non-GAAP financial measures (in milli
Slide 26: Reconciliation of Non-GAAP Financial Measures (cont…)
Teledyne Technologies Incorporated Reconciliation of Non-GAAP Financial Measures (cont…) Reconciliation of GAAP to Non-GAAP financial measures (in millions): Fiscal Year (Incl. Discont Ops) Fiscal Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Net cash provided by operating activities,
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