CIRCOR International — Q4 2015 Earnings Presentation
9 slides from CIRCOR International's earnings presentation, Feb 19, 2016
Slide 1: Fourth Quarter 2015 Investor Review
Energy | Aerospace & Defense Fourth Quarter 2015 Investor Review Presented February 19, 2016
Slide 2: Safe Harbor
Q4 2015 Investor Review ZN CIRCOR vw 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 sta
Slide 3: Fourth-Quarter Highlights
Fourth-Quarter Highlights = Top and bottom-line performance consistent with expectations = Benefit from cost control and restructuring actions achieved $12 million in anticipated savings in 2015 = Consolidated adjusted operating margin of 10.2%, up 50 bps YOY = Energy adjusted operating margin of 13
Slide 4: Energy Segment Highlights
Energy Segment Highlights ($ millions) | a42015 | @42014 | YOY Change Revenues 124.4 164.0 (24%) Adjusted operating margin 13.4% 14.6% (120 bps) = Revenues decreased 24% organically — Lower short-cycle distributed valve sales — Higher control valves & large international projects revenue — Negative
Slide 5: Aerospace & Defense Segment Highlights
Aerospace & Defense Segment Highlights ($ millions) | 42015 | @42014 | YOY Change Revenues 39.8 44.0 (9%) Adjusted operating margin 10.4% 4.8% 560 bps = Revenues decreased 6% organically — Completion of UK Navy programs in 2014 — Negative FX impact of ~$1.7 million = Adjusted operating margin increa
Slide 6: Q4 P&L Highlights
Q4 P&L Highlights (in millions, except per share data) Q4 2015 Q4 2014 Divestitures, Restructuring Restructuring & Special & Special Reported Charges Adjusted Reported Charges Adjusted Sales 1642 es 1642 2186 106 208.0 Operating Income 123 (45) 167 82 (12.1) 202 Net Interest (expense) (06) zs (06) 0
Slide 7: Cash Flow and Debt Highlights
Cash Flow and Debt Highlights ($ millions) | 4.2015 FY 2015 | Cash Flow from Operations 30.5 QA Capital Expenditures, net (2.1) (10.5) Free Cash Flow 28.4 16.6 Total Debt 90.5 Cash and Cash Equivalents 54.5 Net Debt (Cash) 36.0 Total Debt to Equity 23% @4 2015 Investor Review ZX CIRCOR Ww
Slide 8: Q1 2016 Guidance as of February 19, 2016
Q1 2016 Guidance as of February 19, 2016 ($ millions, except per share data) Low High Revenue $135 $145 Expected Adjusted Earnings Per Common Share 0.38 0.48 (Diluted) Less: Restructuring related charges, net of tax ‘ P— 0.15 0.10 Special charges, net of tax __] Expected Earnings Per Common Share (D
Slide 9: 2015 Summary by Quarter
Q4 2015 Investor Review ZX CIRCOR Ww 2015 Summary by Quarter (in millions, except per share data) Qi Q2 Q3 Q4 EY: Revenue 165.9 166.9 159.3 164.2 656.3 Adjusted Operating Income 14.6 15.0 16.2 16.7 62.5 Adjusted Operating Margin 88% 9.0% 10.1% 10.2% 9.5% Adjusted EPS 0.60 0.55 0.64 0.63 2.43