Cpi Aerostructures, Inc. · AMEX:CVU
Cpi Aerostructures — Q3 2019 Earnings Presentation
17 slides from Cpi Aerostructures's earnings presentation, Nov 6, 2019
Slide 1: 2019 Q3 Results Presentation
1 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Expertise in Aerospace Technologies Wednesday, November 6, 2019 2019 Q3 Results Presentation Speakers: Douglas McCrosson, President & Chief Executive Officer Vincent Palazzolo, Chief Financial Officer
Slide 2: Disclosure Statements: Forward-Looking Statements
2 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Disclosure Statements Forward - Looking Statements This presentation contains forward - looking statements that involve risks and uncertainties . All statements, other than statements of historical fact,
Slide 3: Recent Highlights
3 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Recent Highlights Douglas McCrosso n President & Chief Executive Officer
Slide 4: Recent Highlights
4 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Recent Highlights 1. Solid Third Quarter Results • Revenue up ~35% • Gross profit up ~28% • Net income up ~183% • EPS up 100% on higher share count 2. Strong Bookings and Product Sales Backlog • Consolid
Slide 5: Backlog 3Q 2017 – 3Q 2019
5 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Backlog 3Q 2017 – 3Q 2019 Funded 20% / Unfunded 80% $0 $100 $200 $300 $400 $500 $600 Q3'17 Q1'18 Q3'18 Q1'19 Q3'19 Backlog (Defense/Commercial) Commercial Defense Total Backlog $533.9M $484.3M $49.6M Con
Slide 6: Driven by Renewed Strength in Defense Budget
6 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations 6 Driven by Renewed Strength in Defense Budget Presence on prominent defense programs with strong funding Defense market focus yielding large, diversified, and growing backlog Bell / Textron AH - 1Z Vipe
Slide 7: 3Q 2019 Financial Highlights
7 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Vincent Palazzolo Chief Financial Officer 3Q 2019 Financial Highlights
Slide 8: Recent Financial Highlights
8 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Recent Financial Highlights *On a higher number of shares 11,857,534 at September 30, 2019 versus 8,977,075 at September 30, 2018. For the Three Months Ended September 30, For the Nine Months Ended Septe
Slide 9: Balance Sheet Highlights
9 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations ($ in Millions, except per share value) Balance Sheet Highlights As of September 30, 2019 Cash and Restricted Cash $2.5 Contract Assets 121.5 Total Debt 31.6 Shareholders’ Equity 100.2 Book Value, per sh
Slide 10: Updated 2019 Financial Guidance
10 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Updated 2019 Financial Guidance • Approx. $103.0M Revenue • Approx. $9.0M Pre - tax Income • Approx. $(1.5)M Cash Flow from Operations
Slide 11: Looking Ahead
11 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Looking Ahead Douglas McCrosso n President & Chief Executive Officer
Slide 12: Bid Pipeline (at 30 September 2019)
12 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations 17% 54% 16% 13% Bid Pipeline (at 30 September 2019) Continued Diversification Across Product Categories Virtually all proposals (96%) are at the Tier 1 level 99% 1% Defense - weighted with commercial bi
Slide 13: Near-Term Program Opportunities
13 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Near - Term Program Opportunities • Intelligence, Surveillance & Reconnaissance (ISR) Pods • Electronic Racks & Step Assemblies • Electronic Warfare (EW) Pods • Missile Wings • Repair of various helicop
Slide 14: Growth Drivers and Estimated 3-Year Growth Outlook
14 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations % of Backlog at 9/30/19 Key Platforms Estimated 3 - Year Growth Outlook 25% A - 10, F - 16, UH - 60, HondaJet 12% - 18% 44% NGJ - MB, F - 35, DB - 110 UH - 60, CH - 53K, SEASPARROW 16 % - 20% 31% E - 2D
Slide 15: Large and Diversified Backlog Drives Strong Visibility
15 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations F - 35 Drive Shaft F - 35 Locks Large and Diversified Backlog Drives Strong Visibility Next Generation Jammer Increment 1 Pod T - 38C Talon Trainer E - 2D Advanced Hawkeye (Multi - Year 2) Sikorsky/Unna
Slide 16: Q&A Session
16 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations Q&A Session Douglas McCrosso n President & Chief Executive Officer Vincent Palazzolo Chief Financial Officer
Slide 17: CPI Aerostructures Contact Information
17 Information contained herein is proprietary to CPI Aero and may be subject to ITAR regulations CPI Aerostructures Vincent Palazzolo, Chief Financial Officer (631) 586 - 5200 www.cpiaero.com Investor Relations Counsel Sanjay M. Hurry, LHA Investor Relations (212) 838 - 3777 cpiaero@lhai.com