4Q 2017 Supplemental Information for Earnings Conference Call
|
|
- Jeremy Parker
- 6 years ago
- Views:
Transcription
1 4Q 2017 Supplemental Information for February 16, 2018 Aggregates Essential Material Valuable Asset
2 I M P O R TA N T D I S C L O S U R E S F o r w a r d L o o k i n g S t a t e m e n t s This document contains forward-looking statements. Statements that are not historical fact, including statements about Vulcan's beliefs and expectations, are forward-looking statements. Generally, these statements relate to future financial performance, results of operations, business plans or strategies, projected or anticipated revenues, expenses, earnings (including EBITDA and other measures), dividend policy, shipment volumes, pricing, levels of capital expenditures, intended cost reductions and cost savings, anticipated profit improvements and/or planned divestitures and asset sales. These forwardlooking statements are sometimes identified by the use of terms and phrases such as "believe," "should," "would," "expect," "project," "estimate," "anticipate," "intend," "plan," "will," "can," "may" or similar expressions elsewhere in this document. These statements are subject to numerous risks, uncertainties, and assumptions, including but not limited to general business conditions, competitive factors, pricing, energy costs, and other risks and uncertainties discussed in the reports Vulcan periodically files with the SEC. Forward-looking statements are not guarantees of future performance and actual results, developments, and business decisions may vary significantly from those expressed in or implied by the forward-looking statements. The following risks related to Vulcan's business, among others, could cause actual results to differ materially from those described in the forwardlooking statements: those associated with general economic and business conditions; the timing and amount of federal, state and local funding for infrastructure; changes in Vulcan s effective tax rate; the increasing reliance on information technology infrastructure for Vulcan s ticketing, procurement, financial statements and other processes could adversely affect operations in the event that the infrastructure does not work as intended or experiences technical difficulties or is subjected to cyber attacks; the impact of the state of the global economy on Vulcan s businesses and financial condition and access to capital markets; changes in the level of spending for private residential and private nonresidential construction; the highly competitive nature of the construction materials industry; the impact of future regulatory or legislative actions, including those relating to climate change, wetlands, greenhouse gas emissions, the definition of minerals, tax policy or international trade; the outcome of pending legal proceedings; pricing of Vulcan's products; weather and other natural phenomena; energy costs; costs of hydrocarbon-based raw materials; healthcare costs; the amount of long-term debt and interest expense incurred by Vulcan; changes in interest rates; volatility in pension plan asset values and liabilities, which may require cash contributions to the pension plans; the impact of environmental clean-up costs and other liabilities relating to existing and/or divested businesses; Vulcan's ability to secure and permit aggregates reserves in strategically located areas; the effect of changes in tax laws, guidance and interpretations, including those related to the Tax Cuts and Jobs Act that was enacted on December 22, 2017; Vulcan's ability to manage and successfully integrate acquisitions; the potential of goodwill or long-lived asset impairment; changing technologies could disrupt the way we do business and how our products are distributed; and other assumptions, risks and uncertainties detailed from time to time in the reports filed by Vulcan with the SEC. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement. Vulcan disclaims and does not undertake any obligation to update or revise any forward-looking statement in this document except as required by law. 2
3 S A F E T Y: L E S S T H A N 1 I N J U R Y P E R 2 0 0, H O U R S W O R K E D R e c o r d r e s u l t r e f l e c t s s t r e n g t h o f c o r e o p e r a t i n g d i s c i p l i n e s Number of MSHA/OSHA Injuries per 200,000 Hours Worked
4 F O U R T H Q U A R T E R H I G H L I G H T S R e t u r n t o s o l i d s h i p m e n t g r o w t h ; m a r g i n h e a d w i n d s p e r s i s t e d Overall Results Earnings from Continuing Operations: Reported EPS of $2.43 per diluted share Adjusted EPS of $0.74 per diluted share, +7% versus 2016 Adjusted EBITDA: $233 million Transitory margin headwinds in aggregates segment not adjusted out Underlying Drivers and Comments Aggregates Segment Gross Profit: $208 million Shipments grew 7%, 5% same-store Freight-adjusted sales price grew 1%, 2% if adjusted for negative mix Negative pricing mix, higher diesel prices, higher distribution costs, and costs at acquired operations hurt gross profit by approximately $20 million Sales slightly exceeded production Total Non-Aggregates Gross Profit: $35 million Gross profit +15%, in line with volume growth Continued strong management of asphalt and concrete materials margins SAG: $86 million YOY increase due to severance, bad debt accruals, and tax planning actions Restructuring action in January Interest expense: $137 million as reported, $35 million as adjusted Retired $565 million of 2021 notes One-time charges to interest expense of $102 million See Appendix for reconciliation of non-gaap measures. Taxes: $314 million credit as reported, $17 million expense as adjusted $268 million net tax reform savings, including reval of deferred tax liabilities $28 million release of valuation allowance for state-level NOLs 4
5 D O U B L E D I G I T G R O W T H I N N O V E M B E R A N D D E C E M B E R F i r m i n g p u b l i c d e m a n d a n d c a t c h u p o n d e f e r r e d w o r k : w i t h g o o d w e a t h e r c a m e g o o d s h i p m e n t s % Change in Year-over-Year 4Q Aggregates Daily Total Shipments 13% 10% 4Q Average* +7% -1% October November December * Same-store volume growth was 5% in Q4. 5
6 D A I LY S H I P M E N T R AT E S R E T U R N E D T O G R O W T H I N 2 ND H A L F P u b l i c d e m a n d a n d p r o j e c t s t a r t s g r a d u a l l y i m p r o v i n g l a t e r i n t h e y e a r Year over Year Change in Daily Shipping Rates 16% 15% 7% 7% 6% 10% 12% 13% 9% 10% 8% 7% 2% 3% 3% -4% -4% -2% -2% -2% Coincides with decline in public construction start activity 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Total shipments as reported, not same-store. 6
7 H I G H W AY A W A R D S I N V M C S TAT E S R E T U R N E D T O G R O W T H D O T s a n d p r o j e c t s t a r t s g r a d u a l l y c a t c h i n g u p t o n e w f u n d i n g l e v e l s Trailing Twelve Month Highway Awards Dollars for Vulcan Served Markets 25% Supported improved shipping momentum in 2 nd half of 2017 and projected into % 15% Weakness in starts that held back shipments in 2 nd half of 2016 and % 5% 0% -5% -10% -15% -20% DEC '15 MAR '16 JUN '16 SEP '16 DEC '16 MAR '17 JUN '17 SEP '17 DEC '17 Source: Dodge Analytics 7
8 S TAT E I N I T I AT I V E S + F A S T A C T S U P P O R T S U S TA I N E D R E C O V E R Y C A, T N a n d S C j o i n e d o t h e r V u l c a n s t a t e s i n r a i s i n g l o n g - t e r m h i g h w a y f u n d i n g Estimated Increase in State Construction Funding Levels TX 130% CA 140% % of Vulcan Revenue VA GA 18% 79% ~75% FL TN NC 33% 37% 41% SC 75% MD 38% Source: State DOTs and Company estimates 8
9 Millions of employees C O N S T R U C T I O N E M P L O Y M E N T I N V M C S TAT E S C O N T I N U E S T O G R O W H i r i n g r e f l e c t s c u s t o m e r c o n f i d e n c e, p a r t i c u l a r l y i n s u s t a i n e d p r i v a t e r e c o v e r y 4.3 Vulcan States Construction Employment Growth Construction employment continued to expand in Vulcan states, despite volume headwinds 3.9 DEC '15 MAR '16 JUN '16 SEP '16 DEC '16 MAR '17 JUN '17 SEP '17 DEC '17 Source: Bureau of Labor and Statistics 9
10 4 6 % S A M E - S T O R E S H I P M E N T G R O W T H P R O J E C T E D F O R P r i v a t e r e c o v e r y c o n t i n u e s, p u b l i c d e m a n d r e t u r n s t o g r o w t h a n d r a m p s i n Vulcanserved markets +4-6% shipment growth Private Mid-single digit growth Public Low-single digit growth Continued residential recovery, supported by rising employment and household formation Nonresidential backlogs strong, third party leading indicators point to continued growth, particularly in Vulcan markets Growth widespread across portfolio, particular strength in TX, GA, VA, NC and FL Construction start activity returning to growth State DOTs adjusting to new and higher levels of funding, pushing to get work out Seeing increased spending on government buildings Recent federal budget and disaster relief actions further support recovery Source: Company estimates. 10
11 A G G R E G AT E S U S A A S S E T S C O M P L I M E N T V M C N E T W O R K T r a n s a c t i o n o f f e r s a t t r a c t i v e p r o d u c t i o n, l o g i s t i c s, a n d c o m m e r c i a l s y n e r g i e s Acquisition of Aggregates USA- Closed late December 2017: 3 quarries (CSX and NS served) 16 distribution yards Over 650 new customers 2018 Contribution ~7 million tons ~$50 million of EBITDA Rail Network Production Quarry Distribution Sites Barge Network Production Quarry Distribution Sites Ship Network Calica Quarry Delivery Ports Aggregates USA Acquisition Rail Quarries Distribution Sites Truck served Quarry 11
12 E A R N I N G S O U T L O O K A g g r e g a t e s m a r g i n s i m p r o v i n g Overall Guidance Earnings from Continuing Operations: $535-$635 million $4.00-$4.65 per diluted share % vs Adjusted EPS EBITDA: $1,150 - $1,250 million % vs Adjusted EBITDA Includes $50 million contribution from Aggregates USA Underlying Expectations and Assumptions Aggregates Segment (same-store): Shipments +4-6%: continued private recovery, public inflection Average freight-adjusted sales price +3-5%: positive climate, building through year Flow-through on incremental revenue >60%: cost improvement vs Gross profit %: improving unit margins in line with prior trend Asphalt, Concrete and Calcium Segments: Solid, stabilizing unit margins Gross profit up high single-digits, roughly in line with volume growth SAG: $335 million Includes amounts added from 2017 acquisitions Continuing to decline as a percent of revenues Interest Expense: ~$125 million, excluding refinancing charges Total debt of approximately $2.85 billion Weighted-average interest rate of approximately 4.2% Effective Tax Rate: 20% Approximately 800 basis point decline in book rate as result of tax reform Cash tax rate benefits further from immediate expensing of qualified capital investments See Appendix for reconciliation of non-gaap measures. 12
13 C A S H F L O W O U T L O O K S t r o n g f r e e c a s h f l o w g e n e r a t i o n, s t r o n g r e i n v e s t m e n t EBITDA (midpoint) $ 1,200 Working capital increase (50) Operating and maintenance capex (250) Slightly lower than recent trend FCF before interest, taxes, dividend $ 900 Interest expense (125) Cash taxes before credits, repayments (80) Approximately $100 million lower than pre-tax reform Dividends (150) Assumes $0.28/quarter per recent Board declaration FCF before growth, other $ 545 Internal growth capex (350) Includes new quarry development in CA and TX Tax credits, repayments 173 Refunds of over payments; use of AMT and foreign tax credits Pension contribution (100) Linked to overall tax planning; effectively a reduction of debt M&A, divestitures, share repurchase, incremental financing, other TBD Maintain commitment to investment grade credit; retain flexibility for long-term growth 13
14 R E C O N C I L I AT I O N O F N O N - G A A P M E A S U R E S EBITDA EBITDA is an acronym for Earnings Before Interest, Taxes, Depreciation and Amortization and excludes discontinued operations. GAAP does not define EBITDA and it should not be considered as an alternative to earnings measures defined by GAAP. We adjust EBITDA for certain items to provide a more consistent comparison of earnings performance from period to period. We use this metric to assess the operating performance of our business and for a basis of strategic planning and forecasting as we believe it closely correlates to long-term shareholder value. EBITDA and Adjusted EBITDA Q4 Q4 YTD YTD (in millions) Net earnings $327.5 $112.6 $601.2 $419.5 Income tax expense (benefit) (313.6) 33.3 (232.1) Interest expense, net (Earnings) Loss on discontinued operations, net of tax 0.4 (4.5) (7.8) 2.9 EBIT $150.9 $174.4 $652.4 $680.5 Depreciation, depletion, accretion and amortization EBITDA $228.8 $246.0 $958.4 $965.5 Property donation $4.3 $0.0 $4.3 $0.0 Gain on sale of real estate and businesses (10.5) (16.2) (10.5) (16.2) Business interruption claims recovery (11.0) Charges associated with divested operations Business development, net of termination fee One time employee bonus Asset impairment Restructuring charges Adjusted EBITDA $233.2 $230.2 $981.9 $966.0 Depreciation, depletion, accretion and amortization (78.0) (71.6) (306.0) (284.9) Adjusted EBIT $155.2 $158.6 $676.0 $681.1 Projected EBITDA The following reconciliation to the mid-point of the range of 2018 Projected EBITDA excludes adjustments for the future outcome of legal proceedings, charges associated with divested operations, asset impairments and other unusual gains and losses due to the uncertainty in predicting these items Projected EBITDA 2018 (in millions) Mid-point Net earnings $585 Income tax expense 150 Interest expense, net 125 Loss on discontinued operations, net of tax - Depreciation, depletion, accretion and amortization 340 EBITDA $1,200 Adjusted Diluted Earnings Per Share (Adjusted Diluted EPS) We present EPS adjusted for discrete items that occurred during the quarter to provide a more consistent comparison of performance from period to period. Q4 Q4 YTD YTD Adjusted Diluted EPS Diluted EPS from continuing operations $2.43 $0.80 $4.40 $3.11 Items included in Adjusted EBITDA above 0.02 (0.08) Interest Charges associated with debt purchase Tax refrom income tax savings (1.99) - (1.99) - Alabama NOL carryforward valuation allowance (0.21) - (0.21) - Foreign tax credit carryforward utilization - (0.03) - (0.08) Adjusted diluted EPS from continuing operations $0.74 $0.69 $3.04 $
1Q 2018 Supplemental Information for Earnings Conference Call
1Q 2018 Supplemental Information for May 3, 2018 Aggregates Essential Material Valuable Asset I M P O R TA N T D I S C L O S U R E S F o r w a r d L o o k i n g S t a t e m e n t s This document contains
More information3Q 2017 Supplemental Information for Earnings Conference Call
3Q 2017 Supplemental Information for Earnings Conference Call November 2, 2017 I M P O R T A N T D I S C L O S U R E S F O R WA R D LO O K I N G STAT E M E N T S This document contains forward-looking
More information2012 Earnings Highlights. Earnings Conference Call, February 14, 2013
2012 Earnings Highlights Earnings Conference Call, February 14, 2013 Important Disclosure Notes Forward Looking Statements This document contains forward-looking statements. Statements that are not historical
More informationWhy Vulcan. Investor Presentation March 10, 2015
Why Vulcan Investor Presentation What we aim to offer investors 1 2 3 4 A domestic pure play aggregates business with several years of doubledigit revenue growth potential Shipment growth with recovery
More informationVulcan Announces Fourth Quarter 2015 Results
NEWS RELEASE Vulcan Announces Fourth Quarter 2015 Results 2/4/2016 EPS from Continuing Operations Increases Sharply to $0.69 per Share Aggregates Volume Up 8% and Price Up 11% BIRMINGHAM, Ala., Feb. 4,
More informationFirst Quarter 2012 Earnings Results. April 26, 2012
First Quarter 2012 Earnings Results April 26, 2012 Important Disclosure Notes Forward Looking Statements Certain matters discussed in this presentation, including expectations regarding future performance,
More informationMANAGEMENT PRESENTATION SEPTEMBER 29, 2016
MANAGEMENT PRESENTATION SEPTEMBER 29, 2016 I M P O R T A N T D I S C L O S U R E S FORWARD LOOKING STATEMENTS This document contains forward-looking statements. Statements that are not historical fact,
More informationQ Earnings. April 25, 2018
Q2 2018 Earnings April 25, 2018 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S.
More informationQ Earnings. January 24, 2018
Q1 2018 Earnings January 24, 2018 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S.
More informationQ Earnings. July 25, 2018
Q3 2018 Earnings July 25, 2018 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S. Private
More information2018 SUPPLEMENTAL INFORMATION. February 12, 2019
2018 SUPPLEMENTAL INFORMATION February 12, 2019 DISCLAIMER Statement Regarding Safe Harbor for Forward-Looking Statements This presentation may contain forward-looking statements that is, information related
More informationXYLEM INC. Q EARNINGS RELEASE FEBRUARY 1, 2018
XYLEM INC. Q4 2017 EARNINGS RELEASE FEBRUARY 1, 2018 Q4 2017 EARNINGS RELEASE FORWARD-LOOKING STATEMENTS This presentation contains information that may constitute forward-looking statements. Forward-looking
More informationAlbemarle Corporation Second Quarter 2018 Earnings and Non-GAAP Reconciliations Conference Call/Webcast Wednesday, August 8 th, :00am ET
Albemarle Corporation Second Quarter 2018 Earnings and Non-GAAP Reconciliations Conference Call/Webcast Wednesday, August 8 th, 2018 9:00am ET Forward-Looking Statements Some of the information presented
More informationQ Earnings. January 23, 2019
Q1 2019 Earnings January 23, 2019 Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning
More informationQuarterly Update FY16 Fourth Quarter. November 8, 2016
Quarterly Update FY16 Fourth Quarter November 8, 2016 Johnson Controls International plc Cautionary Statement Regarding Forward-Looking Statements Johnson Controls International plc has made statements
More informationAlbemarle Corporation Fourth Quarter 2018 Earnings. Conference Call/Webcast Thursday, February 21 st, :00am ET
Albemarle Corporation Fourth Quarter 2018 Earnings Conference Call/Webcast Thursday, February 21 st, 2019 9:00am ET Forward-Looking Statements Some of the information presented in this presentation, the
More informationQ EARNINGS CALL FEBRUARY 20, 2018
Q4 2017 EARNINGS CALL FEBRUARY 20, 2018 1 IMPORTANT INFORMATION Forward Looking Statements These slides contain (and the accompanying oral discussion will contain) forward looking statements. All statements
More informationQ Earnings. April 20, 2016
Q2 2016 Earnings April 20, 2016 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S.
More informationQ Earnings. April 26, 2017
Q2 2017 Earnings April 26, 2017 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S.
More informationQ Earnings. July 26, 2017
Q3 2017 Earnings July 26, 2017 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S. Private
More informationXYLEM INC. Q EARNINGS RELEASE JULY 31, 2018
XYLEM INC. Q2 2018 EARNINGS RELEASE JULY 31, 2018 Q2 2018 EARNINGS RELEASE FORWARD-LOOKING STATEMENTS This presentation contains information that may constitute forward-looking statements. within the meaning
More informationXYLEM INC. Q EARNINGS RELEASE MAY 1, 2018
XYLEM INC. Q1 2018 EARNINGS RELEASE MAY 1, 2018 Q1 2018 EARNINGS RELEASE FORWARD-LOOKING STATEMENTS This presentation contains information that may constitute forward-looking statements. Forward-looking
More informationFourth Quarter and Full Year 2018 Financial Review and Analysis
Fourth Quarter and Full Year 2018 Financial Review and Analysis (preliminary, unaudited) Supplemental Presentation Materials Unless otherwise indicated, comparisons are to the same periods in the prior
More informationQ Earnings Call. April 24, 2013
Q2 2013 Earnings Call April 24, 2013 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements -- This presentation contains certain forward-looking statements within the meaning of the
More informationQ Earnings. July 20, 2016
Q3 2016 Earnings July 20, 2016 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S. Private
More informationQ Earnings. October 31, 2018
Q4 2018 Earnings October 31, 2018 Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning
More informationQ Earnings. November 1, 2017
Q4 2017 Earnings November 1, 2017 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S.
More informationAllegion Second-Quarter 2018 Results. July 26, 2018
Allegion Second-Quarter 2018 Results July 26, 2018 Safe Harbor This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including
More informationUSG Corporation 3 rd Quarter 2017 Earnings. Earnings Conference Call and Webcast October 26, 2017
USG Corporation 3 rd Quarter 2017 Earnings Earnings Conference Call and Webcast October 26, 2017 Cautionary Statements This presentation contains forward-looking statements within the meaning of the Private
More informationAlbemarle Corporation First Quarter 2018 Earnings and Non-GAAP Reconciliations Conference Call/Webcast Thursday, May 10 th, :00am ET
Albemarle Corporation First Quarter 208 Earnings and Non-GAAP Reconciliations Conference Call/Webcast Thursday, May 0 th, 208 9:00am ET Forward-Looking Statements Some of the information presented in this
More informationAppendix. Non-GAAP Adjustments
Appendix Non-GAAP Adjustments Reconciliation of Reported (GAAP) to Adjusted (non GAAP) Financial Measures (Dollar amounts in millions, except per share data) 00 006 007 008 009 3 00 0 4 0 03 6 04 7 0 8
More informationSUPPLEMENTAL SCHEDULES
SUPPLEMENTAL SCHEDULES 2018 NYSE: BMS SAFE HARBOR STATEMENT This presentation includes forward-looking statements within the meaning of the Safe Harbor provisions of the Securities Litigation Reform Act
More informationAlbemarle Corporation Second Quarter 2017 Earnings Appendix & Non-GAAP Reconciliations Conference Call/Webcast Tuesday, August 8 th, :00am ET
Albemarle Corporation Second Quarter 2017 Earnings Appendix & Non-GAAP Reconciliations Conference Call/Webcast Tuesday, August 8 th, 2017 9:00am ET Forward-Looking Statements Some of the information presented
More informationECOLAB FOURTH QUARTER REPORTED DILUTED EPS $1.35 ADJUSTED DILUTED EPS $1.54, +12% 2019 ADJUSTED DILUTED EPS FORECAST $5.80 TO $6.
News Release Ecolab Inc. 1 Ecolab Place, St. Paul, Minnesota 55102 FOR IMMEDIATE RELEASE Michael J. Monahan (651) 250-2809 Andrew C. Hedberg (651) 250-2185 ECOLAB FOURTH QUARTER REPORTED DILUTED EPS $1.35
More informationWaste Management Announces Fourth Quarter and Full-Year 2013 Earnings
Waste Management Announces Fourth Quarter and Full-Year 2013 Earnings February 18, 2014 Company sees strong cash generation in 2013 and expects continued strength in 2014 HOUSTON--(BUSINESS WIRE)--Feb.
More informationEarnings Presentation October 25, 2018
nvent Third Quarter 2018 Earnings Presentation October 25, 2018 Forward-Looking Statement CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This presentation contains statements that we believe to be "forward-looking
More informationForward-Looking Statements
First Quarter 2016 Conference Call April 27, 2016 Forward-Looking Statements Certain information contained in this presentation constitutes forward-looking statements for purposes of the safe harbor provisions
More informationTENNECO REPORTS FOURTH QUARTER AND FULL-YEAR 2017 RESULTS
news release TENNECO REPORTS FOURTH QUARTER AND FULL-YEAR 2017 RESULTS Record fourth quarter and full-year revenue; double-digit growth in commercial truck and off-highway Record fourth quarter EBIT and
More informationQ Earnings Call. November 5, 2012
Q4 2012 Earnings Call November 5, 2012 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements -- This presentation contains certain forward-looking statements within the meaning of
More information2017 THIRD QUARTER RESULTS. Ended September 30, 2017
2017 THIRD QUARTER RESULTS Ended September 30, 2017 Forward Looking Statements Disclaimer This presentation contains statements, including statements about future plans and expectations, which constitute
More informationQ Earnings. October 28, 2015
Q4 2015 Earnings October 28, 2015 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S.
More informationParker Hannifin Corporation. 4 th Quarter & Fiscal Year 2018 Earnings Release
Parker Hannifin Corporation 4 th Quarter & Fiscal Year 2018 Earnings Release August 2, 2018 Forward-Looking Statements and Non-GAAP Financial Measures Forward-looking statements contained in this and other
More informationFOURTH QUARTER 2018 INVESTOR CONFERENCE CALL. February 14, 2019
FOURTH QUARTER 2018 INVESTOR CONFERENCE CALL February 14, 2019 1 DISCLAIMER Forward-Looking Statements Certain statements in this presentation, other than purely historical information, are "forward-looking
More informationFINANCIAL REVIEW. R. Steve Kinsey. Chief Financial Officer and Chief Administrative Officer
FINANCIAL REVIEW R. Steve Kinsey Chief Financial Officer and Chief Administrative Officer Information Regarding Forward-Looking Statements Statements contained in this press release that are not historical
More informationFiscal 2018 Q3 Earnings Presentation July 11, 2018
Fiscal 2018 Q3 Earnings Presentation July 11, 2018 Risks and Non-GAAP Disclosures This presentation contains forward-looking statements within the meaning of U.S. securities laws, including guidance about
More informationALLEGION REPORTS FOURTH-QUARTER, FULL-YEAR 2016 FINANCIAL RESULTS, PROVIDES 2017 OUTLOOK
ALLEGION REPORTS FOURTH-QUARTER, FULL-YEAR 2016 FINANCIAL RESULTS, PROVIDES 2017 OUTLOOK Fourth-quarter 2016 earnings per share from continuing operations (EPS) of $0.77, compared with 2015 EPS of $0.74;
More informationFISCAL YEAR 2018 FIRST QUARTER EARNINGS PRESENTATION
FISCAL YEAR 2018 FIRST QUARTER EARNINGS PRESENTATION Jay Craig CEO & President Kevin Nowlan Senior Vice President & CFO January 31, 2018 Proprietary Meritor, Inc. 2017 Forward-Looking Statements This presentation
More informationFirst Quarter 2019 Earnings Presentation February 6, 2019
First Quarter 2019 Earnings Presentation February 6, 2019 Cautionary statements This presentation contains forward-looking statements that are subject to known and unknown risks and uncertainties, many
More informationECOLAB THIRD QUARTER 2018
3Q 2018 Overview Sales: ECOLAB THIRD QUARTER 2018 Reported sales +5%; fixed currency sales were +6%, with acquisition adjusted fixed currency sales +7%. New business growth, share gains, pricing and new
More informationJohnson Controls reports solid fiscal Q2 earnings with stronger orders and free cash flow
FOR IMMEDIATE RELEASE CONTACT: Investors: Antonella Franzen (609) 720-4665 Ryan Edelman (609) 720-4545 Media: Fraser Engerman (414) 524-2733 Johnson Controls reports solid fiscal Q2 earnings with stronger
More informationVeritiv Corporation Fourth Quarter and Fiscal Year 2017 Financial Results March 1, 2018
Veritiv Corporation Fourth Quarter and Fiscal Year 2017 Financial Results March 1, 2018 Tom Morabito Director of Investor Relations 2 Safe Harbor Provision Certain statements contained in this presentation
More informationNovember 1, Q Earnings Presentation
November 1, 2018 Q3 2018 Earnings Presentation Certain statements contained in this presentation that are not historical facts, including any statements as to future market conditions, results of operations,
More information4 th Quarter 2017 Earnings Supplement. February 6, 2018
4 th Quarter 2017 Earnings Supplement February 6, 2018 Disclaimer This presentation contains statements, estimates and projections which are forward-looking statements (as defined in Section 21E of the
More informationSecond Quarter 2018 Financial Review and Analysis (preliminary, unaudited)
Second Quarter 2018 Financial Review and Analysis (preliminary, unaudited) Supplemental Presentation Materials Unless otherwise indicated, comparisons are to the same period in the prior year. 1 Second
More informationFOR IMMEDIATE RELEASE Michael J. Monahan (651)
News Release Ecolab Inc. 370 Wabasha Street North St. Paul, Minnesota 55102 FOR IMMEDIATE RELEASE Michael J. Monahan (651) 250-2809 ECOLAB REPORTED AND ADJUSTED FIRST QUARTER DILUTED EPS $0.77; ADJUSTED
More informationECOLAB FIRST QUARTER 2018
1Q 2018 Overview Sales: ECOLAB FIRST QUARTER 2018 Reported sales +10% and fixed currency and acquisition adjusted fixed currency sales +6%. New business growth, share gains, pricing and new product introductions
More informationVeritiv Corporation Third Quarter 2017 Financial Results November 7, 2017
Veritiv Corporation Third Quarter 2017 Financial Results November 7, 2017 Tom Morabito Director of Investor Relations 2 Safe Harbor Provision Certain statements contained in this presentation regarding
More informationRESOLUTE FOREST PRODUCTS Q RESULTS RICHARD GARNEAU, PRESIDENT & CEO JO-ANN LONGWORTH, SVP & CFO
RESOLUTE FOREST PRODUCTS Q3 2017 RESULTS RICHARD GARNEAU, PRESIDENT & CEO JO-ANN LONGWORTH, SVP & CFO November 2, 2017 CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION Statements in this presentation
More informationSecond Quarter Review. 25 / April / 2014
Second Quarter Review 25 / April / 2014 Forward-Looking Statements / Safe Harbor This presentation contains a number of forward-looking statements. In many cases forward-looking statements are identified
More informationVeritiv Corporation First Quarter 2018 Financial Results May 8, 2018
Veritiv Corporation First Quarter 2018 Financial Results May 8, 2018 Tom Morabito Director of Investor Relations 2 Safe Harbor Provision Certain statements contained in this presentation regarding Veritiv
More informationFourth Quarter 2017 Earnings & 2018 Forecast Conference Call
Fourth Quarter 2017 Earnings & 2018 Forecast Conference Call February 16, 2018 2015 Ryder System, Inc. Safe Harbor and Non-GAAP Financial Measures Note Regarding Forward Looking Statements: Certain statements
More informationInvestors: Antonella Franzen (609) CONTACT: Ryan Edelman (609) Media: Fraser Engerman (414) FOR IMMEDIATE RELEASE
FOR IMMEDIATE RELEASE CONTACT: Investors: Antonella Franzen (609) 720-4665 Ryan Edelman (609) 720-4545 Media: Fraser Engerman (414) 524-2733 Johnson Controls reports fiscal and full year earnings with
More informationSecond Quarter 2018 Earnings Call
Second Quarter 2018 Earnings Call July 26, 2018 Nick Zarcone President & Chief Executive Officer Varun Laroyia Executive Vice President & Chief Financial Officer Joe Boutross Vice President, Investor Relations
More informationAllegion Second-Quarter 2016 Results. July 28, 2016
Allegion Second-Quarter 2016 Results July 28, 2016 Safe Harbor This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including
More informationFiscal 2018 Q2 Earnings Presentation April 10, 2018
Fiscal 2018 Q2 Earnings Presentation April 10, 2018 Risks and Non-GAAP Disclosures This presentation contains forward-looking statements within the meaning of U.S. securities laws, including guidance about
More information3Q Presentation. November 7, 2017
3Q Presentation November 7, 2017 SAFE HARBOR Statements contained in this presentation that are not historical and reflect our views about future periods and events, including our future performance, constitute
More informationVeritiv Corporation Second Quarter 2016 Financial Results August 9, 2016
Veritiv Corporation Second Quarter 2016 Financial Results August 9, 2016 Tom Morabito Director of Investor Relations 2 Safe Harbor Provision Certain statements contained in this presentation regarding
More informationCFO Commentary on Second-Quarter 2014 Results
CFO Commentary on Second-Quarter 2014 Results Summary The second quarter 2014 results compared to last year s second quarter were as follows: Revenue of $305.8 million up 4.2% from $293.4 million Gross
More informationWEYERHAEUSER EARNINGS RESULTS: 1st Quarter April 25, 2014
WEYERHAEUSER EARNINGS RESULTS: 1st Quarter 214 April 25, 214 1 4/25/214 FORWARD-LOOKING STATEMENT This presentation contains statements concerning the company s future results and performance that are
More information2018 SECOND QUARTER FINANCIAL RESULTS
2018 SECOND QUARTER FINANCIAL RESULTS July 30, 2018 0 SAFE HARBOR STATEMENT The 2018 second quarter news release, conference call webcast, and the following slides contain forward-looking statements. The
More informationRBC Midwest NDR NASDAQ: HEES. John Engquist CHIEF EXECUTIVE OFFICER Kevin Inda VICE PRESIDENT OF INVESTOR RELATIONS. Company Participants
Company Participants John Engquist CHIEF EXECUTIVE OFFICER Kevin Inda VICE PRESIDENT OF INVESTOR RELATIONS NASDAQ: HEES August 15-16, 2018 2 Legal Disclaimers Forward-Looking Information This presentation
More informationFourth Quarter Earnings Call January 25, 2018
Fourth Quarter Earnings Call January 25, 2018 Financial Data Charts This presentation consists of L3, Inc. general capabilities and administrative information that does not contain controlled technical
More informationXYLEM INC. Q EARNINGS RELEASE OCTOBER 30, 2018
XYLEM INC. Q3 2018 EARNINGS RELEASE OCTOBER 30, 2018 Q3 2018 EARNINGS RELEASE FORWARD-LOOKING STATEMENTS This presentation contains information that may constitute forward-looking statements. within the
More informationEarnings Call Presentation Q4 2017
Earnings Call Presentation Q4 2017 February 8, 2018 Safe Harbor Statement Statements contained in, or incorporated by reference into this presentation, future filings by us with the Securities and Exchange
More informationFourth Quarter and FY 2017 Earnings Presentation November 29, 2017
Fourth Quarter and FY 2017 Earnings Presentation November 29, 2017 Cautionary statements This presentation contains forward-looking statements that are subject to known and unknown risks and uncertainties,
More informationExecutive Vice President and Chief Financial Officer (919)
FOR IMMEDIATE RELEASE Contact: Anne H. Lloyd Executive Vice President and Chief Financial Officer (919) 783-4660 www.martinmarietta.com MARTIN MARIETTA REPORTS FOURTH-QUARTER AND FULL-YEAR RESULTS -----------------
More informationJuly 26, Second Quarter 2018 Earnings Presentation
July 26, 2018 Second Quarter 2018 Earnings Presentation Disclaimer Statement Regarding Safe Harbor For Forward-Looking Statements This presentation contains forward-looking statements, that is, information
More informationFINANCIAL RESULTS AND COMPANY OVERVIEW Second-Quarter Performance
FINANCIAL RESULTS AND COMPANY OVERVIEW 08 Second-Quarter Performance September 5 th, 08 Disclaimer Forward-Looking Statements and Preliminary Results This presentation includes forward-looking statements
More informationQ Earnings. November 2, 2016
Q4 2016 Earnings November 2, 2016 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S.
More informationFiscal 2019 Q1 Earnings Presentation January 9, 2019
Fiscal 2019 Q1 Earnings Presentation January 9, 2019 Risks and Non-GAAP Disclosures This presentation contains forward-looking statements within the meaning of U.S. securities laws, including guidance
More informationECOLAB THIRD QUARTER REPORTED DILUTED EPS $1.48 ADJUSTED DILUTED EPS $1.53, +11% 2018 ADJUSTED DILUTED EPS FORECAST REDUCED TO $5.
News Release Ecolab Inc. 1 Ecolab Place, St. Paul, Minnesota 55102 FOR IMMEDIATE RELEASE Michael J. Monahan (651) 250-2809 Andrew C. Hedberg (651) 250-2185 ECOLAB THIRD QUARTER REPORTED DILUTED EPS $1.48
More informationECOLAB SECOND QUARTER 2018
2Q 2018 Overview Sales: ECOLAB SECOND QUARTER 2018 Reported sales +7%; fixed currency sales were +4%, with acquisition adjusted fixed currency sales +5%. New business growth, share gains, pricing and new
More informationFourth Quarter and FY 2018 Earnings Presentation November 28, 2018
Fourth Quarter and FY 2018 Earnings Presentation November 28, 2018 Cautionary statements This presentation contains forward-looking statements that are subject to known and unknown risks and uncertainties,
More informationThird Quarter 2018 Earnings I October 25, 2018
Third Quarter 208 Earnings I October 25, 208 Forward-Looking Statements Certain statements in this presentation may be considered forward-looking statements. Words such as expects, anticipates, estimates,
More informationWaste Management Announces First Quarter Earnings
FOR IMMEDIATE RELEASE Waste Management Announces First Quarter Earnings Revenue Grows 8.3%, Producing Strong Net Income and Cash Flow Earnings Per Diluted Share Grows More Than 15% HOUSTON April 26, 2017
More informationFLEX RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
FLEX RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share amounts) Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY18 Q2 FY18 GAAP gross profit $ 405,995 6.9% $ 313,691 5.2% $ 416,455
More informationAlbemarle Corporation Fourth Quarter 2017 Earnings and Non-GAAP Reconciliations Conference Call/Webcast Wednesday, February 28 th, :00am ET
Albemarle Corporation Fourth Quarter 2017 Earnings and Non-GAAP Reconciliations Conference Call/Webcast Wednesday, February 28 th, 2018 9:00am ET Proprietary Information of Albemarle Corporation. Forward-Looking
More informationJohnson Controls reports fiscal Q3 earnings with strong organic growth and underlying margin expansion
FOR IMMEDIATE RELEASE CONTACT: Investors: Antonella Franzen (609) 720-4665 Ryan Edelman (609) 720-4545 Media: Fraser Engerman (414) 524-2733 Johnson Controls reports fiscal Q3 earnings with strong organic
More informationTHIRD QUARTER 2016 CONFERENCE CALL AND WEBCAST. November 1, 2016
THIRD QUARTER 2016 CONFERENCE CALL AND WEBCAST November 1, 2016 AGENDA Introduction Business Overview Financial Overview Roger Hendriksen Director, Investor Relations Jeff Edwards Chairman and Chief Executive
More informationUS Ecology, Inc. Q Earnings Conference Call
US Ecology, Inc. Q4 2017 Earnings Conference Call February 16, 2018 1 Today s Hosts Jeff Feeler Chairman & Chief Executive Officer Eric Gerratt Executive Vice President & Chief Financial Officer Steve
More informationSufism Reoriented Sanctuary, USA. Ignacio Madridejos President CEMEX USA
Sufism Reoriented Sanctuary, USA Ignacio Madridejos President CEMEX USA These presentations contain forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX, S.A.B. de C.V.
More informationRESOLUTE FOREST PRODUCTS Q RESULTS
RESOLUTE FOREST PRODUCTS Q2 2018 RESULTS AUGUST 2, 2018 CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION Statements in this presentation that are not reported financial results or other historical
More informationParker Hannifin Corporation. 1 st Quarter Fiscal Year 2019 Earnings Release
Parker Hannifin Corporation 1 st Quarter Fiscal Year 2019 Earnings Release November 1, 2018 Forward-Looking Statements and Non-GAAP Financial Measures Forward-looking statements contained in this and other
More informationWABASH NATIONAL CORPORATION Q4 Earnings Release
WABASH NATIONAL CORPORATION 2018 Q4 Earnings Release SAFE HARBOR STATEMENT AND NON-GAAP FINANCIAL MEASURES This presentation contains certain forward-looking statements as defined by the Private Securities
More informationECOLAB SECOND QUARTER REPORTED DILUTED EPS $1.20 ADJUSTED DILUTED EPS $1.27, +13% FULL YEAR 2018 ADJUSTED DILUTED EPS FORECAST $5.
News Release Ecolab Inc. 1 Ecolab Place, St. Paul, Minnesota 55102 FOR IMMEDIATE RELEASE Michael J. Monahan (651) 250-2809 Andrew C. Hedberg (651) 250-2185 ECOLAB SECOND QUARTER REPORTED DILUTED EPS $1.20
More informationWEYERHAEUSER EARNINGS RESULTS
WEYERHAEUSER EARNINGS RESULTS 4TH QUARTER 2017 February 2, 2018 FORWARD-LOOKING STATEMENT This presentation contains statements and depictions that constitute forward-looking statements within the meaning
More informationQ Earnings. January 25, 2017
Q1 2017 Earnings January 25, 2017 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S.
More informationTEREX ANNOUNCES THIRD QUARTER 2010 RESULTS
FOR IMMEDIATE RELEASE News Release Contact Information: Tom Gelston Mike Bazinet Vice President, Investor Relations Director, Corporate Communications Phone: 203-222-5943 Phone: 203-222-6113 Email: thomas.gelston@terex.com
More informationAlbemarle Corporation Second Quarter 2016 Earnings. Conference Call/Webcast Thursday, Aug 4, :00am ET
Albemarle Corporation Second Quarter 06 Earnings Conference Call/Webcast Thursday, Aug 4, 06 9:00am ET Forward-Looking Statements Some of the information presented in this presentation and the conference
More informationW. R. Grace & Co. Fourth Quarter 2014 Business Update. Investor Presentation February 5, 2015
W. R. Grace & Co. Fourth Quarter Business Update Investor Presentation February 5, 2015 Disclaimer Statement Regarding Safe Harbor For Forward-Looking Statements This presentation contains forward-looking
More information