Slide 1: Safe Harbor and Basis of Presentation
Safe Harbor and Basis of Presentation Forward-Looking Statement Safe Harbor - This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All of these forward-looking statements are based on estimates and assumptions made by our
Slide 2: Fiscal Q1 2019 Highlights
Fiscal Q1 Highlights 3 We achieved record first quarter results Net sales increased 21.2% to a record $778.1 million Net sales base business growth of 6.1% Wallboard sales increased 11.6% (2.5% base) Ceiling sales increased 16.2% (8.1% base) Steel framing sales increased 23.4% (16.1% base) Other pro
Slide 3: Fiscal Q1 2019 Performance
Fiscal Q1 2019 Performance Adj. Gross Profit ($ mm) Fiscal Q1 2019 Adjusted Gross Profit & Margin (1) Adj. EBITDA ($ mm) Fiscal Q1 2019 Adjusted EBITDA (1) For a reconciliation of Adj. Gross Profit to Gross Profit, Adj. SG&A to SG&A and Adj. EBITDA to Net Income, the most directly comparable GAAP me
Slide 4: Attractive Capital Structure
Attractive Capital Structure Post Titan transaction capital structure as of 7/31/18: Pro Forma leverage of 4.1x Net Debt / LTM Pro Forma Adj. EBITDA (1) Compares favorably to 6.0x Net Debt / LTM Pro Forma Adj. EBITDA (1) as of 4/30/14 and 4.3x pre-IPO Moody’s and Standard & Poor’s maintained current
Slide 5: Leading Specialty Distributor Poised for Continued Growth
Leading Specialty Distributor Poised for Continued Growth 6 Market Leader with Significant Scale Advantages – #1 North American Distributor of Wallboard and Ceilings Differentiated Service Model Drives Market Leadership Multiple Levers to Drive Market Leading Growth – Market Share, Greenfields, M&A,
Slide 6: Leading Specialty Distributor Poised for Continued Growth
Leading Specialty Distributor Poised for Continued Growt National Scale CombinedWith Local Expertise Market Leader with Scale Advantages Y Market Leader with Significant Scale Advantages — #1 North American Distributor of Wallboard and Ceilings Differentiated Service Model Drives Market Leadership M
Slide 7: Summary Quarterly Financials
Summary Quarterly Financials 8 FY19 Business Days 1Q19 64 days 2Q19 65 days 3Q19 62 days 4Q19 63 days FY19 254 days Note: Fiscal year end April 30. Includes greenfields, which we consider extensions of “base business.” FY18 acquired branches have been updated to reflect the number of acquired branch
Slide 8: Quarterly Cash Flows
Quarterly Cash Flows 9 ($ in millions) (Unaudited) 1Q18 2Q18 3Q18 4Q18 FY18 1Q19 Net income $ 15.3 $ 18.0 $ 19.7 $ 9.9 $ 63.0 $ 8.7 Non-cash changes & other changes (2.8) 13.3 14.9 35.3 60.8 7.1 Changes in primary working capital components: Trade accounts and notes receivable (12.9) (8.9) 36.4 (26.
Slide 9: Quarterly Net Sales
Quarterly Net Sales Note: Fiscal year end April 30. When calculating our “base business” results, we exclude any branches that were acquired in the current fiscal year, prior fiscal year and three months prior to the start of the prior fiscal year. FY18 quarterly sales from acquisitions have been up
Slide 10: Quarterly Net Income to Adjusted EBITDA
Quarterly Net Income to Adjusted EBITDA Adjusted EBITDA Reconciliation Commentary Represents non-cash compensation expenses related to stock appreciation rights agreements Represents non-cash compensation expense related to changes in the fair values of noncontrolling interests Represents non-cash e
Slide 11: LTM Net Income to Pro Forma Adjusted EBITDA
LTM Net Income to Pro Forma Adjusted EBITDA Pro Forma Adjusted EBITDA Reconciliation Commentary 12 Represents non-cash compensation expenses related to stock appreciation rights agreements Represents non-cash compensation expense related to changes in the fair values of noncontrolling interests Repr
Slide 12: Reconciliation of Gross Profit to Adjusted Gross Profit
Reconciliation of Gross Profit to Adjusted Gross Profit GAAP Gross Profit Reconciliation Commentary Non-cash cost of sales impact of purchase accounting adjustments to increase inventory to its estimated fair value 13 (Unaudited) 1Q18 2Q18 3Q18 4Q18 FY2018 1Q19 ($ in millions) Gross Profit - Reporte
Slide 13: Reconciliation of SG&A to Adjusted SG&A & Organic Adjusted SG&A
Reconciliation of SG&A to Adjusted SG&A & Organic Adjusted SG&A GAAP SG&A Reconciliation Commentary Represents non-cash compensation expenses related to stock appreciation rights agreements Represents non-cash compensation expense related to changes in the fair values of noncontrolling interests Rep
Slide 14: Reconciliation of SG&A to Adjusted SG&A & Organic Adjusted SG&A
Reconciliation of SG&A to Adjusted SG&A & Organic Adjusted SG&A GAAP SG&AReconciliation aad sous 208 _saus_ _aaie_ [Frais] 1019 Represents non-cash compensation expensesrelated Swaine to stock appreciation gts agreements 568A. Repored s1se1 susss sases sists [sons] suse 5 Represents non-cash compens
Slide 15: Q&A