Slide 1: Q2 2024 Earnings Conference Call
Q2 2024 EARNINGS CONFERENCE CALL Conference Call Dial-in numbers: August 8, 2024 (800) 225-9448 (domestic) (203) 518-9708 (international) Conference code: CWQ224 Q2 2024 Earnings Presentation
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT Please note that the information provided in this presentation is accurate as of the date of the original presentation. The presentation will remain posted on this website from one to twelve months following the initial presentation, but content will not be updated to reflect n
Slide 3: Strong Second Quarter Performance Drives Improved Full-Year 2024 Outlook
STRONG SECOND QUARTER PERFORMANCE DRIVES IMPROVED FULL-YEAR 2024 OUTLOOK Second Quarter 2024 Highlights ▪ Hosted Investor Day in May; Provided new long-term financial outlook through 2026 ▪ Sales of $785M, up 11% overall; Aerospace & Defense (A&D) markets increased 16% ▪ Operating Income of $133M, u
Slide 4: Second Quarter 2024 Financial Review
SECOND QUARTER 2024 FINANCIAL REVIEW Q2’24 Q2’23 ($ in millions) Adjusted Adjusted Change Key Drivers ▪ Strong demand in Commercial Aerospace (narrowbody and widebody OEM platforms) partially offset by Aerospace & Industrial $233 $226 3% modest decline in General Industrial ▪ Strong growth (U.S. DoD
Slide 5: 2024 End Market Sales Growth Guidance
2024 END MARKET SALES GROWTH GUIDANCE (As of August 7, 2024) Updated (in blue) 2024E Growth 2024E Growth ($ in Millions) vs 2023 vs 2023 2024E (Prior) (Current) % Sales Key Drivers ▪ Strong defense electronics revenue growth on various C5/ISR programs (helicopters and Aerospace Defense 6% - 8% 7% -
Slide 6: 2024 Financial Guidance
2024 FINANCIAL GUIDANCE (As of August 7, 2024) Updated (in blue) 2024E 2024E Change vs Key Drivers ($ in millions) (Prior) (Current) 2023 Adjusted Aerospace & Industrial $915 - 930 $925 - 940 4% - 6% ▪ Strong low-teens growth in Commercial Aerospace; Higher sales in Aerospace Defense market ▪ Defens
Slide 7: 2024 Financial Guidance
2024 FINANCIAL GUIDANCE (As of August 7, 2024) Updated (in blue) Change 2024E 2024E vs 2023 Key Drivers ($ in millions, except EPS) (Prior) (Current) Adjusted Total Sales $2,985 - 3,035 $3,010 - 3,060 6% - 8% Continued focus on generating profitable growth Total Operating Income $518 - 533 $525 - 53
Slide 8: Acquisition of Ultra Energy Expands Global Commercial Nuclear Portfolio
ACQUISITION OF ULTRA ENERGY EXPANDS GLOBAL COMMERCIAL NUCLEAR PORTFOLIO ▪ June 2024: Announced Acquisition of Ultra Nuclear Limited and Weed Purchase Price $200M (cash) Instrument Co., Inc. (“Ultra Energy”) P / EBITDA Multiple <12x NTM – Leading designer and manufacturer of neutron and radiation mon
Slide 9: Building Momentum Through Successful Execution of Pivot to Growth Strategy
BUILDING MOMENTUM THROUGH SUCCESSFUL EXECUTION OF PIVOT TO GROWTH STRATEGY ▪ Well-positioned to deliver strong 2024 performance – Sales growth of 6% - 8% reflects strong growth in A&D and Commercial Nuclear markets – Maintaining outlook for Operating Margin of 17.4% - 17.6%, flat to up 20 bps • Incr
Slide 10: Appendix
Appendix Q2 2024 Earnings Presentation 10
Slide 11: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION The Corporation supplements its financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial information. Curtiss-Wright believes that these Adjusted (non-GAAP) measures provide investors with improved tran
Slide 12: Second Quarter 2024: End Market Sales Growth
SECOND QUARTER 2024: END MARKET SALES GROWTH ($ in millions) Key Drivers Q2’24 Q2’23 Change Strong demand for embedded computing equipment on various domestic and international Aerospace Defense $154 $132 17% programs and higher sales of arresting systems equipment Ground Defense $85 $71 20% Higher
Slide 13: 2024E End Market Sales Waterfall
FY’24 Guidance: 2024E END MARKET SALES WATERFALL (as of August 7, 2024) Overall UP 6 - 8% A&D Markets UP 8 - 10% Comm’l Markets UP 1 - 3% Total 2024 CW End Markets $3.01B - 3.06B Aerospace & Defense Markets Commercial Markets 68% $2.07B 32% $0.96B Naval Commercial Aerospace Power & Process General I