CIRCOR International — Q1 2018 Earnings Presentation
14 slides from CIRCOR International's earnings presentation, May 1, 2018
Slide 1: First Quarter 2018 Investor Review
Energy Aerospace & Defense Industrial First Quarter 2018 Investor Review Presented May 2, 2018
Slide 2: Safe Harbor Disclosure
ZY Safe Harbor dis This presentation contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. Reliance should not be placed on forward- looking statements because they involv
Slide 3: Q1 2018 Results
Q1 2018 Results par (S$ millions, except EPS) Orders Net Revenue EPS GAAP Adjusted* $0.40 528 $276 Q1 2017 Q12018 Q12017 Q1 2018 Q12017 Q12017 Q1 2018 Organic Growth 1% (Organic Growth ¥% lAcquisition 74% lAcquisition 81% Bal FX Translation 4% FX Translation 4% [Total Orders Change 77% [Total Net Re
Slide 4: Q1 2018 Orders
Q1 2018 Orders (8 millions) Year-over-Year Comparison la CIRCOR tw Aerospace & Defense Pro Forma Pro Forma Pro Forma Repotted Combined” Reported Combined “? Reported Combined ‘” $ % $ % $ % $ % $ % $ % 2017 207 1056 100.0 1237 56.4 647 Organic (0.4) 1% 204 19% 88 % 20 2% (11.0) 20% (72) 41% Acquisit
Slide 5: Industrial Segment Highlights
ZN Industrial Segment Highlights ia ($ millions) Q1 2018 Prior Year YOY Change Net Revenues Bridge Net Revenues 17.1 274 328% Pro Forma Reported Combined (1) $ % $ % ‘Segment Operating Income 129 44 195% Qi 2017 Da 1127 Organic (1.5) ©)% (5.2) (5)% ‘Segment Operating Margin 111% 16.0% -490 bps Acqui
Slide 6: Energy Segment Highlights
ZN Energy Segment Highlights eo ($ millions) Q1 2018 ~=Prior Year Change Net Revenues Bridge Net Revenues 100.0 76.2 31% Pro Forma Reported Combined “) $ % $ % ‘Segment Operating Income 57 64 11% 12017 762 O18 Organic 68 9% 61 7% ‘Segment Operating Margin 51% 8.4% -270 bps ‘Acquisitions 147 19% a 0%
Slide 7: Aerospace & Defense Segment Highlights
ZN . . CIRCOR Aerospace & Defense Segment Highlights ie (8 millions) Q12018 Prior Year YOY Change Net Revenues Bridge Net Revenues 58.5 416 A1% Pro Forma Reported Combined () $ % $ % ‘Segment Operating Income 89 38 136% Qt 2017 416 52.3 Organic 11 3% 40 8% ‘Segment Operating Margin 15.3% 9.1% 620 bp
Slide 8: Q1 P&L Highlights
Q1 P&L Highlights (S millions, except EPS) Special & Special & Reported Restructuring Reported Restructuring GAAP Charges GAAP Charges Net Revenue 275.6 - 145.2 - Operating (Loss) Income (13.4) 332 74 17 Net Interest (Expense) (11.8) - a7 - Other Income (Expense) 19 - (0.2) - Pre-Tax (Loss) Income (
Slide 9: Cash Flow and Debt Position
Cash Flow and Debt Position ww (S millions) Q1 2018 Q1 2017 Cash Flow from Operations - 16 Capital Expenditures, net (8) (3) Free Cash Flow (8) 13 Total Debt 824 243 Cash and Cash Equivalents 123 66 Net Debt 701 177 Net Debt to Equity 119% 43% Note: Cash and cash equivalents at April 1, 2018 include
Slide 10: Q2 Guidance as of May 2, 2018
a IR R Q2 Guidance as of May 2, 2018 v = ($ millions, except EPS) Q2 2018 Low High Net Revenue $ 275 $ 285 Expected Adjusted Earnings Per Share $ 0.44 $ 0.54 Expected Special / Restructuring Charges per share: - Special Charges - M&A amortization related $ (0.53) $ (0.51) - Restructuring Charges & S
Slide 11: End Market Overview
End Market Overview Segment Trends Industrial Continued strong demand for machinery and rotating equipment Chemical processing strength in N. America and Asia Global increase in wastewater construction and processing Energy efficiency initiatives growth Commercial Marine Shipbuilding demand showing
Slide 12: Use of Non-GAAP Financial Measures
ZN Use of Non-GAAP Financial Measures is aia Within this presentation the Company uses non-GAAP financial measures, including Adjusted operating income, Adjusted operating margin, Adjusted net income, Adjusted earnings per share (diluted), EBITDA, Adjusted EBITDA, net debt, free cash flow, organic g
Slide 13: Appendix
COR G p) APPENDIX
Slide 14: Group Structure
Group Structure (8 millions) Product Lines ENERGY Other Midst Distributed Valves Refinery Valves Instrum entation & Sampling Engineered Valves Reliability Services CIRCOR by End Market INDUSTRIAL Industrial EMEA (Pumps & Valves) Industrial Americas (Pumps & Valves) Commercial Marine (Pumps) A&D Comm