Slide 1: Earnings Call Presentation 1st Quarter 2017
Earnings Call Presentation 1st Quarter 2017 May 1, 2017 Exhibit 99.2
Slide 2: Safe Harbor Statement
Our disclosures in this presentation, including without limitation, those relating to future financial results market conditions and guidance, and in our other public documents and comments contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Those s
Slide 3: Basis of Presentation
All figures throughout the presentation are in $ millions unless otherwise noted. Figures may not add due to rounding. When reporting our financial results within this presentation, we make several adjustments. Management uses the non-GAAP measures below in managing the business and believes the adj
Slide 4: Consolidated Company Key Metrics - First Quarter 2017
Consolidated Company Key Metrics - First Quarter 2017 As reported Net Sales: $315 million in 2017 and $287 million in 2016 As reported Operating Income: $63 million in 2017 and $22 million in 2016 As reported EPS: $0.56 in 2017 and ($0.13) in 2016 Includes $2 million of unallocated Corporate expense
Slide 5: EBITDA Bridge – First Quarter 2017 vs. PY
EBITDA Bridge – First Quarter 2017 vs. PY $12 $5 ($4) ($5) ($4)
Slide 6: Free Cash Flow Bridge – First Quarter 2017 vs. PY
Free Cash Flow Bridge – First Quarter 2017 vs. PY(1) $14 Excludes payments related to the separation from AFI in the first quarter of 2016 and payments made for the acquisition of Tectum in the first quarter of 2017.
Slide 7: Americas First Quarter Results
Excluding the favorable impact of foreign exchange of $1 million, net sales increased 9.4% due to strength in the U.S. Commercial channel and Big Box inventory builds. Volumes grew high mid-single digits over a strong prior year base period. Average unit value (“AUV”) achievement improved from both
Slide 8: EMEA First Quarter Results
Excluding the unfavorable impact of foreign exchange of $3 million, net sales increased 16.2%, driven mainly by broad based sales growth, particularly in Russia and the UK, along with AUV improvement. EMEA First Quarter Results Adjusted EBITDA margins improved 200 bps driven by higher volumes and im
Slide 9: Pacific Rim First Quarter Results
Net sales increased 4.8% driven by India and Australia, which more than offset softness in China. Pacific Rim First Quarter Results Strength in India and Australia drove nearly 5% sales growth Key Highlights Dollar amounts on the page are shown in millions 2016 Q1 Adjusted EBITDA $0.8239999999999999
Slide 10: 2017 Guidance
2017 Guidance $2.60 – $2.70 12% – 16% YoY Growth $2.32 Adjusted EBITDA(2) Adjusted EPS(3) Free Cash Flow(4) Revenue(1) $1,230 $317 $1,290 – $1,320 5% – 7% YoY Growth $350 – $360 10% – 14% YoY Growth $130 – $145 11% – 24% YoY Growth $117 Note: Dollars in millions except per share values As-reported r
Slide 11: Appendix
Appendix @mstrong WORLD INDUSTRIES
Slide 12: Q1 2017 vs. PY - Reported Net Income to Adjusted EBITDA
Q1 2017 vs. PY - Reported Net Income to Adjusted EBITDA CONSOLIDATED AMERICAS EMEA PACIFIC RIM CORPORATE rounding factor 2017 2016 V 2017 2016 V 2017 2016 V 2017 2016 V 2017 2016 V Net Income - As Reported $30.799999999999983 $-7.1000000000000183 $37.9 0 0 0 0 0 0 0 0 0 0 0 0 Tax expense $-24 $-12 $
Slide 13: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Free cash flow is defined as cash from operations and dividends received from the WAVE joint venture, less expenditures for property and equipment, and is adjusted to remove the impact of cash used or proceeds received for acquisitions and divestitures. The Company beli
Slide 14: Consolidated Results
Consolidated Results See earnings press release and 10-Q for additional detail on comparability adjustments. See slide 12 for more details. Eliminates impact of foreign exchange movements First quarter 2016 adjusted EPS calculation excludes the one time impact of $10.7M for charges to settle interes