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1Q 2014 Earnings Conference Call – Curtiss-Wright Corp.

Curtiss-Wright Corp. · May 1, 2014 · 13 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 1
    1Q 2014 Earnings Conference Call May 1, 2014 1 May 1, 2014 2014 Curtiss-Wright
  2. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 2
    One Curtiss-Wright Driven by a new integrated, market-facing structure Focused on: Operating margin expansion Improved working capital management to deliver higher free cash flow A balanced capital allocation strategy…
  3. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 3
    Overview of First Quarter 2014 Results Sales increased 8%, led by a double-digit gain in the Commercial / Industrial segment Commercial markets up 11%; Defense markets up 3% Operating income increased 55%, mostly organic Operating…
  4. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 4
    First Quarter 2014 Operating Income Drivers ( in millions) 1Q14 1Q13 % Change Reported Reported vs. 1Q13 Commercial/Industrial 33.0 20.7 60% Defense 21.2 16.9 25% Energy 12.6 10.8 16% Total Segments 66.7 48.3 38% Corp & Other…
  5. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 5
    1Q 2014 End Markets Summary: Commercial YTD 2014 Sales: 72% Commercial 28% Defense Key Positives Oil & Gas Aero Defense Ongoing ramp up in commercial aircraft 11% 20% Ground production rates (notably 787) Defense 3% Solid…
  6. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 6
    1Q 2014 End Markets Summary: Defense YTD 2014 Sales: 72% Commercial 28% Defense Key Positives Aero Defense 11% Ground Higher sales on military helicopter Oil & Gas Defense 20% 3% programs (Chinook, Black Hawk) Strong naval…
  7. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 7
    2014E Financial Outlook (Guidance as of April 30, 2014) FY2014E FY2014E FY2013A (Prior) (Current) Total Sales 2,511M 2,650 - 2,700M No change Commercial / Industrial 960M 1,040 - 1,060M - Defense 891M 890 - 910M - Energy 660M 720 -…
  8. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 8
    2014E Financial Outlook (Guidance as of April 30, 2014) FY2014E FY2014E FY2013A (Prior) (Current) Pension/Post-Retirement Expense 33M 36 - 37M 30M Interest Expense 37M 39 - 40M - Diluted EPS 2.88 3.30 - 3.40 3.35 - 3.45 Diluted…
  9. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 9
    Strategic Margin Drivers 14.0% Volume Strategic Initiatives Segment Focus / Improvements Portfolio Review Shared Services 9.3% Competitiveness Programs 2013 2018 Achieving 14% Over the Planning Period 10 May 1,…
  10. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 10
    Outlook for 2014 and Closing Comments Expect solid sales with strong, double-digit growth in operating income and diluted EPS Growth anticipated in all commercial markets outweighs mixed performance in defense On track for…
  11. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 11
    Appendix 12 May 1, 2014 2014 Curtiss-Wright
  12. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 12
    Non-GAAP Reconciliation CURTISS-WRIGHT CORPORATION and SUBSIDIARIES NON-GAAP FINANCIAL DATA (UNAUDITED) ( in millions) Three Months Ended March 31, Commercial/Industrial Defense Energy Corporate & Other Total Curtiss - Wright 2014…
  13. 1Q 2014 Earnings Conference Call – Curtiss-Wright Corp. – slide 13
    2014E Market Outlook (Guidance as of April 30, 2014) FY2014E FY2014E % of Total (Prior) (Current) Sales Aero Defense 8 - 12% - 11% Ground Defense (7 - 11%) - 3% Naval Defense (2) - 2% - 14% Total Defense 1 - 5% No change 29%…

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