CIRCOR International — Q4 2014 Earnings Presentation
12 slides from CIRCOR International's earnings presentation, Feb 18, 2015
Slide 1: Fourth Quarter 2014 Investor Review
Cc I R Cc (e) R Energy | Aerospace & Defense wY Fourth Quarter 2014 Investor Review Presented February 18, 2015
Slide 2: Safe Harbor
04 2014 Investor Review al CIRCOR wv 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: Q4 and Full Year 2014 Financial Highlights
Q4 and Full Year 2014 Financial Highlights YOY Change Fourth-Quarter 2014 + Revenues of $218.6 million +6% organically + Adjusted Operating Margin of 9.6% -200 bps + Adjusted EPS of $1.08 +13 cents Full-Year 2014 + Revenues of $841.4 million -1% organically + Adjusted Operating Margin of 10.2% +30 b
Slide 4: 2014 Pro forma Revenue Distribution
2014 Pro forma Revenue Distribution Control Instrumentation valves & Sampling Aerospace & Defense 22% Engineered Valves Upstream Oil & Gas 37% Distributed Valves Q4 2014 Investor Review DY CIRCOR Ww Note: Excludes divestiture of two business units.
Slide 5: Energy Segment Highlights
Energy Segment Highlights (SUS, in millions) P2014 a42013 | YOY Change Revenues 172.4 162.6 6% Adjusted operating margin 14.3% 17.1% -280 bps + Revenues increased 6% (+10% organically) - NAshort-cycle —- Large international projects — Instrumentation and Sampling + Adjusted operating margin decrease
Slide 6: Aerospace & Defense Segment Highlights
Aerospace & Defense Segment Highlights (SUS, in millions) P| 2014 a42013 | YOYChange Revenues 46.1 51.4 (10%) Adjusted operating margin 5.3% 8.4% -310 bps + Revenues decreased 10% (-7% organically) — Lowerlanding gear and industrial sales —- Higher UK navy shipments + Adjusted operating margin decre
Slide 7: Q4 P&L Highlights
Q4 P&L Highlights (SUS, in millions except per share data) Segments’ adjusted operating income! Special charges, net Impairment charges, net Restructuring inventory charges, net Corporate expenses’ Operating Income Net interest (expense) Other income (expense) Benefit (provision) for income taxes Ne
Slide 8: Cash Flow and Debt Highlights
42014 Investor Review al CIRCOR wu Cash Flow and Debt Highlights (SUS, in millions except per share data) FY 2014 Cash Flow from Operations 70.8 Capital Expenditures (12.8) Free Cash Flow 58.0 Dec. 31,2014 Total Debt 1337 Cash, Cash Equivalents & ST Investments 121.4 Net Debt (Cash) (107.7) Debt to
Slide 9: Pro forma Q1 2014
Pro forma Q1 2014 (SUS, in millions except per share data) Revenue Adjusted EPS Q1 2014 Actuals $211.2 $0.78 FX - Estimate (12.0) (0.10) Divestitures (13.0) - Q1 2014 Pro forma $186.2 $0.68 Notes: 1) FX assumes Q1 2014 foreign subsidiary amounts are converted to $US at the following rates; Euro = $1
Slide 10: Q1 2015 Guidance as of February 18, 2015
Q1 2015 Guidance as of February 18, 2015 (SUS, in millions except per share data) Q1 2015 Low High Revenue $155 $170 Expected Adjusted Earnings Per Common Share (Diluted) 0.60 0.70 Less: Restructuring related charges, net of tax ~~ Special charges, net of tax _T O14 0.12 Expected Earnings Per Common
Slide 11: Appendix
Appendix a
Slide 12: Order Trends
42014 Investor Review al CIRCOR we Order Trends (SUS, in millions) Energy 42013 Q12014 Q22014 Q32014 Q42014 Aerospace & Defense HERE 42013 Q12014 Q22014 Q32014 Q42014 2