CIRCOR International — Q2 2015 Earnings Presentation
9 slides from CIRCOR International's earnings presentation, Jul 28, 2015
Slide 1: Second Quarter 2015 Investor Review
“N C | R Cc oO R Energy | Aerospace & Defense LY Second Quarter 2015 Investor Review Presented July 28, 2015
Slide 2: Safe Harbor
Q22015 Investor Review a) CIRCOR we 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 stat
Slide 3: Q2 2015 Financial Highlights
Q2 2015 Financial Highlights Orders of $141.7 million — Down 25% vs. 2014 Pro Forma’) — Down 20% Organically?) Revenues of $167 million — Down 14% vs. 2014 Pro Forma’) — Down 10% Organically?) Adjusted Operating Margin®) of 9.0% — Contraction of 200 bps Adjusted EPS®) of $0.55 — Down $0.33 from Q2 2
Slide 4: Energy Segment Highlights
Energy Segment Highlights ($millions) P| 2.2015 Q22014PF | YOY Change Revenues 127.2 150.5 (15%) Adjusted operating margin 13.4% 15.3% -190 bps + Revenues decreased 15% (down 12% organically) — Lower short-cycle distributed valve sales — Higher large international project revenue — Control valves up
Slide 5: Aerospace & Defense Segment Highlights
Aerospace & Defense Segment Highlights ($millions) Q22015 | Q22014PF Revenues 39.7 43.8 (9%) Adjusted operating margin 8.8% 6.6% 220 bps + Revenues decreased 9% (down 3% organically) — Lower structural landing gear product line sales — Negative FX impact of ~$3 million (6.4 points) + Adjusted operat
Slide 6: Q2 P&L Highlights
Q2 P&L Highlights (Smillions, except per share data) Q2 2015 Q2 2014 Segments’ adjusted operating income() 20.5 26.8 Special charges, net (7) 54 4:3 Restructuring-related inventory charges, net 2.0 5.1 Corporate expenses(") 5.5) 46 Operating Income 76 15.8 Net interest (expense) (0.8) (0.9) Other in
Slide 7: Cash Flow and Debt Highlights
Cash Flow and Debt Highlights ($millions) Q2 2015 Q2 2014 Cash Flow from Operations 8.1 10.3 Capital Expenditures (3.6) (2.9) Free Cash Flow 45 TA Jul.5,2015 Jun. 29,2014 Total Debt 114.1 43.4 Cash and Cash Equivalents 55.0 116.4 Net Debt (Cash) 59.1 (73.0) Total Debt to Equity 27% 9% Repurchased 95
Slide 8: Q3 2015 Guidance as of July 28, 2015
Q3 2015 Guidance as of July 28, 2015 (Smillions except per share data) Q3 2015 Low High Revenue $155 $165 Expected Adjusted Earnings Per Common Share (Diluted) 0.55 0.65 Less: Restructuring related charges, net of tax ~~ Special charges, net of tax _y 0.13 a2 Expected Earnings Per Common Share (Dilu
Slide 9: Restructuring Actions Summary
Restructuring Actions Summary ($millions) 2015 Annualized Savings Savings Status Actions Announced in 2013 2.0 9.0 Complete Actions Announced in 2014 - 7.0 Complete Actions Announced in H1 2015 10.0 15.0 Complete Actions Announced in Q3 2015 : 3.0 Ongoing Total 12.0 34.0 Reinvestment for Growth - (7