Teledyne Technologies Incorporated · NYSE:TDY
Teledyne Technologies — Investor Presentation (February 2024)
26 slides from Teledyne Technologies's investor presentation, February 2024
Slide 1: Teledyne Technologies: Making a Measurable Impact
Teledyne Technologies Making a Measurable Impact INVESTOR PRESENTATION | February 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, directly or indirectly relating to stock option compensation expense, and about the continuing expected
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 2023 revenue (b) Approximate sales percentage by end Markets(b) Sales by Geography(b) market and geography for the 12 months ended December 31, 2023 (c) Includes Teledyne Marine Other Marine(c) Instrumentation for hydrographi
Slide 6: Teledyne's Transformation
Teledyne’s Transformation (a) (a) 2000 2010 2023 $657 Million $1.64 Billion $5.64 Billion 37% 7% 32% 23% 6% 56 % Ae ro sp ac e 4% 7% 8% Cast in g s Ae ro sp ac e 34 % 33% En gin e s 17% 1% 13% 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 Digi
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 $10 Million $100 Million $1.0 Billion 68 Acquisitions; $11.7 Billion in Cumulative Consideration 7
Slide 8: Full Spectrum of Imaging Technology
Full Spectrum of Imaging Technology All Wavelengths, All Applications: From Deep Sea to Deep Space GAMMA X-RAY ULTRAVIOLET VISIBLE INFRARED MICROWAVE RADIO 8
Slide 9: Full Spectrum of Imaging Products
Full Spectrum of Imaging Products From Components to Integrated Systems 9
Slide 10: Full Spectrum of Unmanned Systems
Full Spectrum of Unmanned Systems From Sea to Land to Sky Autonomous and unmanned systems and a wide range of payloads 10
Slide 11: Continuous Improvement
Continuous Improvement(a) Gross Margin(b) EBITDA Marg in (c) (a) 2009 – 2012 represent data from 48% 28 % continuing operations 44% 24 % (b) Represents gross margin as filed in historical SEC filings, which do not 40% 20 % reflect ASU No. 2017-07: Improving 36 % the Presentation of Net Periodic 16 %
Slide 12: Revenue History
Revenue History (a) ($ in millions) $ 6,000 $5,636 (a) Excludes the former Aerospace Engines Digital Imaging $5,459 & Components segment, which was sold on April 19, 2011, in all years 5,500 Instrumentation 5,000 Aerospace & Defense Electronics $4,614 Engineered Systems 4,500 4,000 3,500 $3,164 $3,0
Slide 13: Continuous EPS Growth
Continuous EPS Growth (a) ($ per share) (f) (a) Represents total GAAP EPS for 2002 $19.69 through 2008 and 2013 through 2022, $ 20.00 (e) and GAAP EPS from continuing 19.00 $18.19 operations for 2001 and 2009 through (d) 2012 18.00 $16.86 $18.49 $16.53 (b) Non-GAAP EPS excludes pretax 17.00 charges
Slide 14: Consistent Cash Flow
Consistent Cash Flow ($ 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 $795 pursuant to a
Slide 15: Total Shareholder Return
15 300 1,900 5,500 1,500 2,700 5,100 3,900 1,100 2,300 3,500 4,700 700 3,100 4,300 5,900 (100) No v- 9 9 J an - 0 1 Mar- 0 2 May- 0 3 J u l- 0 4 Se p - 0 5 No v- 0 6 J an - 0 8 Mar- 0 9 May- 10 J u l- 11 Se p - 12 No v- 13 Total Shareholder Return J an - 15 Shareholder Return Since Publicly Listed M
Slide 16: Balance Sheet and Available Liquidity
Balance Sheet and Available Liquidity ($ in m illio n s) Q4 2023 Credit Ratings Moody’s Baa3 Cash $ 6 4 8 .3 S&P BBB Fitch BBB De b t 3,24 4 .9 Sto ckh o ld e rs’ Eq u ity 9,221.2 To tal Cap italizatio n $ 12,4 6 6 .1 Availab le Liq u id ity(a) $ 1,777.4 (a) Represents cash of $648.3 million plus $1
Slide 17: Teledyne: Technologies that Enable Carbon Monitoring, Environmental Science and Climatology
Teledyne: Technologies that Enable Carbon Monitoring, Environmental Science and Climatology 17
Slide 18: Teledyne: Space-based Sensing for Earth Science and Carbon Monitoring
Teledyne: Space-based Sensing for Earth Science and Carbon Monitoring Sensors for all of the following • NOAA Geostationary Operational Environmental Satellite (GOES) – Weather Monitoring • NASA Orbiting Carbon Observatories – Atmospheric Carbon Dioxide (CO2) • NASA GeoCarb – CO2 and Methane (CH4) •
Slide 19: Teledyne: Instrumentation for Air-Quality Monitoring
Teledyne: Instrumentation for Air-Quality Monitoring Leader in Ambient Air Quality Other Related Product Lines • Extensive line of pollution monitoring • Hazardous gas and flame detection for worker instruments (NOx, SO2, O3, CO, CO2, CH4, H2S) safety • Particulate instrumentation (PM10, PM2.5) • Se
Slide 20: Teledyne: Instrumentation for Ocean Science and Climatology
Teledyne: Instrumentation for Ocean Science and Climatology Monitoring the World’s Oceans Other Related Product Lines • Complete line of instrumentation and • Bathymetric lidar and imaging sonar autonomous vehicles for ocean sensing • Software for marine mapping and charting • Analysis of ocean temp
Slide 21: Teledyne: Additional Products for Sustainability, Energy Efficiency and Human Health
Teledyne: Additional Products for Sustainability, Energy Efficiency and Human Health • Thermal cameras for firefighting, heat loss and • High-sensitivity, lower-dose X-ray detectors elevated skin temperature screening • Instruments for pharmaceutical development • Industrial vision systems for food
Slide 22: Teledyne: Goal to Reduce Scope 1 and Scope 2 Combined Emissions
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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