CIRCOR International — Q1 2017 Earnings Presentation
10 slides from CIRCOR International's earnings presentation, Apr 28, 2017
Slide 1: First Quarter 2017 Investor Review
First Quarter 2017 Investor Review Presented April 28th, 2017 Energy Advanced Flow Solutions Exhibit 99.2
Slide 2: Safe Harbor
2 Q1 2017 Investor Review Safe Harbor This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Reliance should not be placed on forward-looking statements bec
Slide 3: Q1 2017 Results
3 Q1 2017 Investor Review $0.52 $0.32 Q1 2016 Q1 2017 $0.23 $0.29 Q1 2016 Q1 2017 $151 $145 Q1 2016 Q1 2017 $4 $13 Q1 2016 Q1 2017 Q1 2017 Results ($ millions, except EPS) Down 4% Adjusted* GAAP Up 260% EPS: Diluted Earnings Per Share * Reflects a non-GAAP measure, see CIRCOR’s Q1 2017 earnings pres
Slide 4: Energy Segment Highlights
4 Q1 2017 Investor Review Energy Segment Highlights • Q1 2017 revenues – Large international projects volume down approximately 60% – CFS acquisition contributes $23 million – Unfavorable FX impact • Q1 2017 segment operating margin – Impact of decline in large international project business – Highe
Slide 5: Advanced Flow Solutions Segment Highlights
5 Q1 2017 Investor Review Advanced Flow Solutions Segment Highlights • Q1 2017 revenues – 1% decline excluding unfavorable FX – Higher fluid control and UK defense sales – Lower shipments due to exit of low margin commercial actuation program – Timing of U.S defense program shipments • Q1 2017 segme
Slide 6: Q1 P&L Highlights
6 Q1 2017 Investor Review Q1 P&L Highlights (in millions, except per share data) Reported GAAP Special & Restructuring Charges Adjusted Reported GAAP Special & Restructuring Charges Adjusted Net Revenue 145.2 - 145.2 150.8 - 150.8 Operating Income 7.4 1.7 9.1 5.5 5.8 11.3 Net Interest Expense (1.7)
Slide 7: Cash Flow and Debt Highlights
7 Q1 2017 Investor Review Cash Flow and Debt Highlights ($ millions) Q1 2017 FY 2016 Cash Flow from Operations 16 59 Capital Expenditures, net (3) (13) Free Cash Flow 13 46 2-Apr-17 31-Dec-16 Total Debt 243 251 Cash and Cash Equivalents 66 58 Net Debt 177 193 Net Debt to Equity 43% 48%
Slide 8: Q2 2017 Guidance as of April 28, 2017
8 Q1 2017 Investor Review Q2 2017 Guidance as of April 28, 2017 ($ millions, except per share data) Earnings per share based on expected diluted common share count Assumes current exchange rates and adjusted tax rate of 27% Expected Special Charges – M&A related includes amortization of intangibles
Slide 9: Restructuring Actions Summary
9 Q1 2017 Investor Review Restructuring Actions Summary ($ millions) Note: Restructuring actions include both structural and volume-related reductions in force Annualized Savings 2017 Savings Status Actions Announced in 2016 12 8 Complete Actions Announced in 2015 21 - Complete A&D California Machin
Slide 10: Use of Non-GAAP Financial Measures
10 Q1 2017 Investor Review Use of Non-GAAP Financial Measures Within this presentation the Company uses non-GAAP financial measures, including adjusted net income, adjusted earnings per diluted share, adjusted operating income, net debt and free cash flow. These non-GAAP financial measures are used