Gabelli & Co. 22 nd Annual Pump, Valve & Motor Symposium
|
|
- Judith Thornton
- 6 years ago
- Views:
Transcription
1 N Y S E A MEX: G H M Gabelli & Co. 22 nd Annual Pump, Valve & Motor Symposium February 9, 2012 Jeffrey F. Glajch Chief Financial Officer N Y S E A M E X : G H M Executing our Strategy Driving Sustainable Growth Diversifying Improving Expanding
2 Safe Harbor Statement 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. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as expects, estimates, projects, anticipates, believes, could, and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, statements relating to anticipated revenue, the timing of conversion of backlog to sales, profit margins, foreign sales operations, its strategy to build its global sales representative channel, the effectiveness of automation in expanding its engineering capacity, its ability to improve cost competitiveness, customer preferences, changes in market conditions in the industries in which it operates, changes in general economic conditions and customer behavior and its acquisition strategy are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation's most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled Risk Factors. Should one or more of these risks or uncertainties materialize, or should any of Graham Corporation's underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation's forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this presentation. 2
3 Graham Corporation Founded: 1936; IPO: 1968 NYSE Amex: GHM Recent Price $21.93 Common shares outstanding 9.9 million Market capitalization $217.1 million 52-week price range $26.30 $14.36 Avg. daily trading volume (3 mos.) 66,648 Ownership: Institutional 67.9% Insider 4.0% ESOP 3.2% Employee Stock Purchase Plan (ESPP) 40% Participation Annual dividend $0.08 Note: Market data as of February 2, 2012; ownership as of most recent filing 3
4 Our Vision Our vision is to be the world leader in the design and manufacture of ENGINEERED-TO-ORDER (ETO) products for the ENERGY MARKETS Executing our Strategy Driving Sustainable Growth Diversifying Improving Expanding 4
5 ETO Products and Energy Markets Products Condensers 20% Heat Exchangers 7% Q3 FY2012 TTM Sales $108.9 million Ejectors 29% Nuclear 18% Pumps 13% Aftermarket 13% Markets Chemical Processing 13% Other 20% Refining 38% Power 29% 5
6 Diversification Drives Recovery Markets and Geography 12-Month Revenue ($ in millions) U.S. 52% Revenue by Geographic Market Asia 15% Middle East 18% $101.1 $106.5* Other 15% $ % FY 2006 FY % CAGR Driven by oil refining and petrochemical markets $ % $ % 46% $ % $ % FY 2010 FY 2012E 30.8% CAGR Oil refining, petrochemicals, Navy and power markets driving growth FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY 2012E Domestic Revenue International Revenue * Midpoint of guidance provided on January 27, 2012 ($105-$108 million)
7 Growth Drivers Oil Refining Industry Chemical and Hydrocarbon Processing Power Generation Power for Defense Industry Accelerating demand in emerging markets Aging infrastructure in developed markets Feedstock changes Expanding addressable opportunities Middle class expansion in emerging markets Growing world population Expanding addressable opportunities Edible oil/oleochemicals Industrial gases Aging nuclear power infrastructure New power plants International nuclear power expansion Alternative energy Biomass Geothermal Solar Naval nuclear propulsion program Submarine fleet Aircraft carriers 7
8 Differentiators Specialized manufacturing capability Stringent, highly-controlled quality processes Low-volume / high-mix business model Complex order execution Selling model Expanding opportunities for ETO products in critical applications Value-based purchasing decisions High cost of failure Limited competition Long-term growth trend 8
9 Major Project Cycle Year 1 Year 2 Year 3 Year 4 Year 5 Concept FEED* EPC Bid Purchase Construction * front end engineering design Graham Competitive Advantage: Early Involvement $150 million pipeline consistent with past few years Year 1 Year 2 Graham establishes competitive advantage during first 24 months Understanding pipeline, developing design options, identifying decision makers, understanding timing, creating strong relationships to Gain advantage, optimize margin and win business 9
10 Energy Steel Acquisition (Dec. 2010) Nuclear Power Focused Superior quality processes are barrier to entry Custom critical equipment fabricator Nuclear-quality raw material supplier N, NPT, NS, U, and R Stamps and Certificates of Authorizations Opportunities Increase market penetration with existing nuclear power plants Integrate engineering and design expertise with certified manufacturing process New power plant designs: 4-6 new plants expected by 2018* Significant addressable opportunities per plant * World Nuclear Association 2009 Report 10
11 Financial Performance D I V E R S I F Y I N G I M P R O V I N G E X P A N D I N G Executing our Strategy Driving Sustainable Growth 11
12 FY1993 FY1994 FY1995 FY1996 FY1998 FY1999 FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012E Raised the Floor on Margins ($ in millions) $101.1 $106.5** $86.4 $74.2 $51.8 $40.3 $41.0 $46.4 $46.8* $48.9 $34.9 $40.7 $41.1 $44.5 $37.5 $41.3 $55.2 $65.8 $ % 4.5% 7.7% 10.1% 11.1% 7.0% 3.3% 1.6% (1.3)% (0.7)% (3.3)% 1.4% 11.3% 10.5% 25.4% 27.0% 17.9% 15.0% EBITDA Margin * 1997 was a three-month transition year and is excluded from this comparison; 1996 reflects a 12-month period ** Midpoint of guidance provided on January 27, 2011 ($105-$108) *** $19.3 million attributable to Energy Steel Note: See supplemental slides for EBITDA reconciliation and other important disclaimers regarding EBITDA. 12
13 Profitable Through Downturn ($ in millions) Net Income $15.0 $17.5 $10.1 $5.8 $6.4 $6.4 FY07 FY08 FY09 FY10 FY11 YTD FY2012 $0.58** $1.49 $1.71 $0.64 $0.64* $1.01 Earnings per Share * Excludes $0.5 million, or $0.05 per diluted share, in acquisition costs ** Includes R&D tax credit of $0.16 Note: All earnings per share amounts adjusted for stock splits 13
14 Q3 FY2012: Solid Start Revenue ($ in millions) $33.6 $19.2 $25.9 $25.0 $24.3 EPS $0.55 Q3 FY11 Q4 FY11 Q1 FY12 Q2 FY12 Q3 FY12 EBITDA Margin* 26.3% $0.13 $0.27 $0.30 $ % 17.1% 12.1% 13.0% Q3 FY11* Q4 FY11 Q1 FY12 Q2 FY12 Q3 FY12 Q3 FY11** Q4 FY11 Q1 FY12 Q2 FY12 Q3 FY12 * See supplemental slides for EBITDA reconciliation and other important disclaimers regarding EBITDA. ** Q3 FY11 excludes acquisition costs 14
15 Strong Cash Position Cash, Cash Equivalents and Investments ($ in millions) No bank debt at 12/31/11 $36.8 $46.2 $58.6* $43.1 $44.5 Energy Steel: all cash $18 million acquisition 3/31/08 3/31/09 3/31/10 3/31/11 12/31/11 Cash available for acquisitions and organic growth * Excludes $16 million in unusually high upfront and near-term customer advances utilized to lock in raw material costs 15
16 Solid Core Backlog Strength ($ in millions) Orders Backlog $107.1 $108.3 $94.3 $91.1 $73.9 $63.2 $64.4 $75.7 $72.6 $50.0 $41.0 $24.1 $48.3 $44.3 $50.1 $ /31/08 3/31/09 3/31/10 3/31/11 12/31/11 03/31/08 3/31/09 3/31/10 3/31/11 12/31/11 Reflect major multi-year projects, including U.S. Navy and major Middle East refineries Executing our Strategy Driving Sustainable Growth Diversifying Improving Expanding 16
17 Strategy & Outlook D I V E R S I F Y I N G I M P R O V I N G E X P A N D I N G Executing our Strategy Driving Sustainable Growth 17
18 Strategic Priorities Advance market share in oil refining and petrochemical markets Gain share in Asia and South America Maintain strong position in Middle East Continue to dominate North American market Expand Energy Steel capabilities to increase sales and profit Exploit synergies of Graham engineering and fabrication capabilities Aggressively pursue sales to U.S. nuclear utilities Capitalize on opportunities in new construction Continue to develop Naval Nuclear Propulsion Program sales channel Continue to evaluate acquisitions Executing our Strategy Driving Sustainable Growth Diversifying Improving Expanding 18
19 Acquisition Strategy: Three Elements Geographic Expansion Asia, especially China Middle East South America Product Diversification Specialty heat exchangers Process vacuum equipment Packaged systems Process vessels Environmental Market Diversification Power Nuclear Alternative energy Government / DOD projects 19
20 Investment Highlights Expected long-term energy demand growth resulting in capacity expansion Record, high-quality backlog Worldwide brand recognition Sales model based on early engineering involvement Expanding addressable market opportunities Strong balance sheet Acquisition opportunities Results-oriented management team 20
21 FY 2012 EXPECTATIONS FY 2012 Expectations Revenue $105 to $108 million Organic growth 25% to 30% Gross margin 32% to 33% SG&A 15% of sales Effective Tax Rate 34% Varied order rates by quarter Guidance provided as of January 27,
22 Supplemental Information D I V E R S I F Y I N G I M P R O V I N G E X P A N D I N G Executing our Strategy Driving Sustainable Growth 22
23 EBITDA Reconciliation ($ in millions) Fiscal Years Ended March GAAP operating profit $ 8,775 $ 10,042 $ 26,328 $ 21,088 $ 6,013 $ 5,454 Acquisition costs $ 676 $ - $ - $ - $ - $ - Depreciation & amortization $ 1,648 $ 1,119 $ 1,005 $ 885 $ 887 $ 793 EBITDA** $ 11,099 $ 11,161 $ 27,333 $ 21,973 $ 6,900 $ 6, * 2004* 2003* 2002* 2001* 2000* GAAP operating profit $ (206) $ (1,969) $ (1,028) $ (1,296) $ (124) $ 332 Acquisition costs $ - $ - $ - $ - $ - $ - Depreciation & amortization $ 780 $ 745 $ 704 $ 774 $ 776 $ 827 EBITDA** $ 574 $ (1,224) $ (324) $ (522) $ 652 $ 1, * 1998* 1996* 1995* 1994* 1993* GAAP operating profit $ 2,591 $ 4,932 $ 3,995 $ 2,818 $ 1,075 $ 662 Acquisition costs $ - $ - $ - $ - $ - $ - Depreciation & amortization $ 820 $ 804 $ 706 $ 732 $ 771 $ 807 EBITDA** $ 3,411 $ 5,736 $ 4,701 $ 3,550 $ 1,846 $ 1,469 * Data from FY1993 though FY2005 excludes discontinued operations and is unaudited; 1997 was a three-month transition year and is excluded from this comparison; 1996 reflects a 12-month period. ** Graham believes that when used in conjunction with GAAP measures, EBITDA, which is a non-gaap measure, assists in the understanding of Graham s operating performance. 23
24 EBITDA Quarterly Reconciliation ($ in millions) Quarter Ended: 12/31/2011 9/30/2011 6/30/2011 3/31/ /31/2010 9/30/2010 Net Income $1.64 $5.47 $3.02 $2.68 $0.76 $ Acquisition transaction costs $0.00 $0.00 $0.00 $0.00 $0.67 $ Interest Expense $0.06 $0.18 $0.02 $0.06 $0.01 $ Interest Income $(0.01) $(0.01) $(0.02) $(0.03) $(0.01) $(0.02) + Income Tax Provision $0.96 $2.77 $1.48 $1.30 $0.40 $ Depreciation & Amortization $0.52 $0.42 $0.51 $0.64 $0.43 $0.29 EBITDA $3.17 $8.83 $5.01 $4.65 $2.26 $2.62 Graham believes that when used in conjunction with GAAP measures, EBITDA, which is a non-gaap measure, assists in the understanding of Graham s operating performance. 24
25 Strength Through Diversification Revenue by Geographic Market: 3Q FY2012 TTM U.S. 52% Asia 15% Middle East 18% Asia (China) Refining, petrochemical, coal-to-liquid, fertilizer Other 15% Selling into the opportunities Middle East Refining, petrochemical South America Refining, petrochemical Revenue by Industry: 3Q FY2012 TTM Chemical / Petrochemical Processing 13% Oil Refining 38% Power 29% Other 20% United States Nuclear power, renewable energy and refining Defense (Navy) Past: Primarily Oil Refining & Petrochem Now: Four Distinct Markets 25
26 ACQUISITION CRITERIA Acquisition Criteria Engineered-toorder products for Energy Industry Up to $60 million in revenue Geographic Expansion and/or Diversify Products/Markets Strong management team / quality culture Return exceeds cost of capital 26
27 Energy Steel Acquisition (Dec. 2010) Acquisition Terms $18 million, all cash, no debt $2 million performance contingency for CY2011 & 2012 Acquisition costs expensed: $0.05/share impact to Q Energy Steel Financials Revenue of ~$18-$20 million Margins similar to Graham: GM: 30%-35+% OM: 13%-18+% Backlog of $12.8 million at 12/31/11 27
28 Operating Performance Principles Use disciplined product pricing and order selection process Apply continuous improvement and targeted capex to gain capacity and reduce lead time Employ flexible cost model to accommodate cyclical demand Align manager and employee compensation with profit and cash management objectives Focus on cash management and operating working capital Strong, debt free balance sheet Dramatic improvement in financial results, both at top and bottom of cycle A business poised for organic and inorganic long term growth 28
29 STRATEGIC ACTIONS TO DRIVE GROWTH Strategic Actions to Drive Growth Expand market opportunities: Create larger addressable market Win in rapid growth economies Advance Naval Nuclear Propulsion Program (NNPP) opportunities Expand nuclear power involvement Capitalize on renewable energy projects Expand variable cost model Broaden subcontractor network: Increase flexibility with shorter supply chain Qualify additional North American and international subcontractors Strengthen core business for margin retention Shortened lead times Reduced errors IT improvements in production and office Continuous improvement process (CIP) Investments in personnel to expand capability and capacity 29
30 Diverse Markets & Expanded Customers OIL REFINING OTHER APPLICATIONS CHEMICAL PROCESSING POWER GENERATION Conventional crude oil Oil sands Extra-heavy crude oil Sour crude Lube oil Edible oil / Oleochemicals Biofuels: Ethanol Biodiesel HVAC Industrial gases Cryogenic Ethylene Ammonia Nitrogen Methanol Styrene Polystyrene Ethylene glycol Detergent alcohols Plastics, resins, fibers Coal-to-liquids (CTL) Gas-to-liquids (GTL) Urea / fertilizer Cogeneration Waste-to-energy Heat, power and light Geothermal Nuclear In situ EXPANDED CUSTOMER BASE End Users (Exxon Mobil, Chevron etc.) - Original Equipment Manufacturers (Dresser Rand, GE etc.) - EPC Contractors (Jacobs, Fluor etc.) - With Energy Steel Acquisition: 104 Nuclear Power Plants in U.S. 30
31 North American Competition Market Refining vacuum distillation Chemicals/Petrochemicals Turbomachinery OEM refining, petrochemical Turbomachinery OEM power and power producer HVAC Naval Nuclear Propulsion Program Nuclear Gardner Denver Competitors Croll Reynolds; Schutte Koerting; Gardner Denver Ambassador; SPX (Yuba); Krueger Holtec; Babcock Thermal Engineering; SPX (Yuba); Krueger Alfa Laval; APV; ITT; Ambassador Joseph Oats; DCFAB Dubose; Consolidated; Tioga; Nova; Maxim 31
32 International Competition Market Refining vacuum distillation Chemicals/Petrochemicals Turbomachinery OEM refining, petrochemical Turbomachinery OEM power and power producer Competitors Gardner Denver; GEA Jet Pump; Korting Hannover; Edwards Croll Reynolds; Schutte Koerting; Gardner Denver; GEA Jet Pump; Korting Hannover; Edwards Donghwa-Entec; Bumwoo; Oiltechnik; Krueger; various local fabricators Holtec; Babcock Thermal Engineering; SPX (Yuba); Krueger 32
33 Catalysts Changing Financial Performance A Company-wide Approach to a Better Graham Today and in the Future Selling Process Re-branding Adding value VacAdemics VacWorks Technical support Redefining profit metrics Decision rights & disciplined approach Gain market share Not every order is a good order People Process Accountability Policy deployment Performance management Change agents: Alignment IT, HR, OPS & executive Engagement Improved Operating Performance Throughout Cycle Operational Excellence Capital plan Graham production system Focus on lead time reduction First time, every time Training Safety culture Continuous improvement Creating scale IT Outsourcing Variable costs Sustainability Leadership commitment Long-term vision Balance financial results with investing in the future Graham management system Succession planning 33
34 PRODUCTS: DIRECT CONTACT CONDENSER Products: Direct Contact Condenser An 11 MW turbine-generator set at a geothermal power producing plant in Papua New Guinea. 34
35 Products: Surface Condenser Supports a steam turbine and enables the conversion of maximum energy in high pressure steam into power. 35
36 VITAL PROCESSING COMPONENTS Vital Processing Components CONDENSERS AND EJECTORS A condenser supports a steam turbine and enables the conversion of maximum energy in high pressure steam into power. An ejector system lowers the pressure in the distillation column to allow crude oil to boil at a lower temperature. This allows for more efficient and cost-effective separation of crude oil into valuable products, such as diesel, gas oils, kerosene, and other fuels. REFINERY EJECTOR SYSTEM CNOOC HUIZHOU REFINERY CHINA 240,000 BBL/DAY REFINERY 36
37 Nuclear Sector Growth Opportunities Products 1. Heat exchangers 2. Vessels 3. Piping 4. Systems 5. Raw materials 6. Vacuum products Growth Options 1. Increase ability to serve existing U.S. nuclear power plants 2. Capitalize on planned U.S. new nuclear power plant construction 3. Expand company to access and service international nuclear power plants 37
38 NUCLEAR RENAISSANCE Nuclear Renaissance Country Operating Under Construction Planned Proposed USA France Japan Other China Russia South Korea Germany UK Ukraine Canada Sweden India South Africa Total Future Expansion: This data represents a more than 50% increase in planned and proposed reactors since the 2007 WNA report Operating = Connected to grid Under Construction = First concrete for reactor poured, or major refurbishment under way Planned = Approvals, funding or major commitment in place, mostly expected in operation within 8-10 years Proposed = Specific program or site proposals, expected operation mostly within 15 years Source: World Nuclear Association, as of January 1,
39 N Y S E A MEX: G H M Gabelli & Co. 22 nd Annual Pump, Valve & Motor Symposium February 9, 2012 Jeffrey F. Glajch Chief Financial Officer N Y S E A M E X : G H M Executing our Strategy Driving Sustainable Growth Diversifying Improving Expanding
Roth 24 th Annual Growth Stock Conference
N Y S E A MEX: G H M Roth 24 th Annual Growth Stock Conference March 12, 2012 James R. Lines President and Chief Executive Officer Jeffrey F. Glajch Chief Financial Officer N Y S E A M E X : G H M Executing
More informationGabelli Pump, Valve & Motor Symposium. Jim Lines, President & CEO Jeff Glajch, Vice President & CFO
Gabelli Pump, Valve & Motor Symposium Jim Lines, President & CEO Jeff Glajch, Vice President & CFO February 25, 2010 Safe Harbor Statement Regarding Forward Looking Statements This presentation contains
More informationBaird 2009 Industrial Conference Jeffrey Glajch, Vice President & CFO. November 10, 2009
Baird 2009 Industrial Conference Jeffrey Glajch, Vice President & CFO November 10, 2009 Safe Harbor Statement Regarding Forward Looking Statements This presentation contains forward-looking statements
More information2010 Sidoti Micro Cap Conference. James Lines, President & CEO Jeffrey Glajch, Vice President & CFO
2010 Sidoti Micro Cap Conference James Lines, President & CEO Jeffrey Glajch, Vice President & CFO January 11, 2010 Safe Harbor Statement Regarding Forward Looking Statements This presentation contains
More informationInvestor Presentation
NYSE:GHM November 2014 Investor Presentation James R. Lines President & Chief Executive Officer Jeffrey F. Glajch Vice President & Chief Financial Officer Safe Harbor Statement This presentation contains
More informationSidoti Emerging Growth Research Institutional Investor Forum
NYSE:GHM March 16, 2015 Sidoti Emerging Growth Research Institutional Investor Forum James R. Lines President & Chief Executive Officer Safe Harbor Statement This presentation contains forward-looking
More informationWestern New York Investors Conference
NYSE:GHM September 26, 2014 Western New York Investors Conference James R. Lines President & Chief Executive Officer Jeffery F. Glajch Vice President & Chief Financial Officer Safe Harbor Statement This
More informationSidoti & Company Fall 2017 Convention
NYSE: GHM September 28, 2017 Sidoti & Company Fall 2017 Convention James R. Lines President & Chief Executive Officer Jeffrey F. Glajch Vice President & Chief Financial Officer 2017 Graham Corp. 1 Safe
More informationInvestor Presentation
NYSE: GHM November 13, 2018 Investor Presentation Jeffrey F. Glajch Vice President & Chief Financial Officer 2018 Graham Corp. 1 Safe Harbor Statement This presentation contains forward-looking statements
More informationNEWS RELEASE. Graham Corporation Reports Third Quarter Fiscal 2013 Sales Increase 5%
NEWS RELEASE Graham Corporation 20 Florence Avenue Batavia, NY 14020 IMMEDIATE RELEASE Graham Corporation Reports Third Quarter Fiscal 2013 Sales Increase 5% Third quarter sales were $25.6 million; Net
More informationThird Quarter Fiscal 2019 Earnings Call
NYSE: GHM January 30, 2019 Third Quarter Fiscal 2019 Earnings Call James R. Lines President & Chief Executive Officer Jeffrey F. Glajch Vice President & Chief Financial Officer 2019 Graham Corp. 1 Safe
More informationFirst Quarter Fiscal 2017 Earnings Call
NYSE:GHM July 29, 2016 First Quarter Fiscal 2017 Earnings Call James R. Lines President & Chief Executive Officer Jeffrey F. Glajch Vice President & Chief Financial Officer 2016 Graham Corp. 1 Safe Harbor
More informationGraham Corporation Reports Fiscal 2016 Third Quarter Results
News Release IMMEDIATE RELEASE Graham Corporation Reports Fiscal 2016 Third Quarter Results Third quarter sales of $17.3 million were lower than expected, primarily due to short-term delays caused by customers
More informationGraham Corporation Reports Fiscal 2018 Third Quarter and Year-to-Date Results
News Release IMMEDIATE RELEASE Reports Fiscal 2018 Third Quarter and Year-to-Date Results Third quarter orders of $40 million, backlog increased to $96 million Diluted loss per share of $1.19, included
More informationFourth Quarter Fiscal 2014 Earnings Call May 30, 2014 Jeffrey F. Glajch
James R. Lines President & Chief Executive Officer Fourth Quarter Fiscal 2014 Earnings Call May 30, 2014 Jeffrey F. Glajch Vice President & Chief Financial Officer NYSE: GHM www.graham-mfg.com Safe Harbor
More informationGabelli & Company s 28 th Annual Pump, Valve & Water Systems Symposium
NYSE: GHM February 22, 2018 Gabelli & Company s 28 th Annual Pump, Valve & Water Systems Symposium James R. Lines President & Chief Executive Officer Jeffrey F. Glajch Vice President & Chief Financial
More informationFISCAL YEAR 2018 ANNUAL REPORT
E N G I N E E R I N G A N S W E R S FISCAL YEAR 2018 ANNUAL REPORT COMPANY PROFILE Graham Corporation is a global business that designs, manufactures and sells critical equipment for the energy, defense
More informationInvestor Overview NYSE: CW
Investor Overview NYSE: CW 1 2019 Curtiss-Wright Safe Harbor Statement Please note that the information provided in this presentation is accurate as of the date of the original presentation. The presentation
More information4Q and FY 2018 Earnings Conference Call
4Q and FY 2018 Earnings Conference Call February 27, 2019 NYSE: CW 1 February 27, 2019 2019 Curtiss-Wright Safe Harbor Statement Please note that the information provided in this presentation is accurate
More informationBabcock & Wilcox Enterprises, Inc. Company Overview March 2018
Babcock & Wilcox Enterprises, Inc. Company Overview March 2018 Safe Harbor Statement B&W cautions that this presentation contains forward-looking statements, including, without limitation, statements relating
More informationGabelli Pump, Valve and Water Systems Symposium
Advanced Flow Solutions Energy Pumping Technologies Gabelli Pump, Valve and Water Systems Symposium Scott Buckhout President & CEO 1 February 22, 2018 1 Safe Harbor This presentation contains forward-looking
More informationCredit Suisse Electrical Equipment and Multi-Industry Conference
Credit Suisse Electrical Equipment and Multi-Industry Conference Dr. Nance Dicciani President and CEO, Specialty Materials August 9, 2007 Forward Looking Statements This report contains forward-looking
More informationInvestor Presentation
Investor Presentation Summer / Fall 2014 Disclaimer Certain statements in this presentation and responses to various questions may constitute forward-looking statements within the meaning of the U.S. federal
More informationOur Transformation Continues. March 21, 2018
Our Transformation Continues March 21, 2018 Disclosure Regarding Forward-Looking Statements Forward-Looking Statements and Factors That May Affect Future Results: Throughout this presentation, we make
More information4Q and FY 2017 Earnings Conference Call
4Q and FY 2017 Earnings Conference Call February 22, 2018 NYSE: CW 1 February 22, 2018 2018 Curtiss-Wright Safe Harbor Statement Please note that the information provided in this presentation is accurate
More informationDiversified global provider of leading engineered technologies to the energy, environmental, and industrial markets
Diversified global provider of leading engineered technologies to the energy, environmental, and industrial markets Notes to Investors Forward-Looking Statements and Non-GAAP Information Any statements
More informationOur Transformation Continues Sidoti NDR May 29-30, 2018
Our Transformation Continues Sidoti NDR May 29-30, 2018 Disclosure Regarding Forward-Looking Statements Forward-Looking Statements and Factors That May Affect Future Results: Throughout this presentation,
More informationJPMorgan Basics and Industrials Conference
JPMorgan Basics and Industrials Conference Dave Anderson Senior Vice President and CFO June 4, 2008 Forward Looking Statements This report contains forward-looking statements within the meaning of Section
More informationJefferies 10 th Annual Global Industrials Conference
Jefferies 10 th Annual Global Industrials Conference August 2014 www.jacobs.com worldwide Forward-Looking Statement Disclaimer Statements included in this presentation that are not based on historical
More informationCredit Suisse 6 th Annual Industrials Conference November 2018
Credit Suisse 6 th Annual Industrials Conference November 2018 Safe Harbor This presentation includes forward-looking statements which are statements that are not historical facts, including statements
More informationInvestor Deck December 2018
Investor Deck December 2018 Safe Harbor This presentation includes forward-looking statements which are statements that are not historical facts, including statements that relate to the mix of and demand
More informationBank of America Merrill Lynch Global Industrials Conference 2018 March 2018
Bank of America Merrill Lynch Global Industrials Conference 2018 March 2018 Safe Harbor This presentation includes forward-looking statements which are statements that are not historical facts, including
More informationGabelli Asset Management Aircraft Supplier Conference
Gabelli Asset Management Aircraft Supplier Conference Dave Anderson, Senior V.P. and CFO New York, NY September 7, 2006 Forward Looking Statements This report contains forward-looking statements within
More informationInvestor Overview NYSE: CW
Investor Overview NYSE: CW 1 2018 Curtiss-Wright Safe Harbor Statement Please note that the information provided in this presentation is accurate as of the date of the original presentation. The presentation
More informationInvestor Presentation
Feb Investor Presentation 2018 Lee D. Rudow President and CEO Michael J. Tschiderer Chief Financial Officer NASDAQ: TRNS 1 Safe Harbor Statement This presentation contains forward looking statements within
More informationIDEAS East Coast Conference
May 18, 2017 IDEAS East Coast Conference Lee D. Rudow President and CEO Michael J. Tschiderer Chief Financial Officer 1 Safe Harbor Statement This presentation contains forward-looking statements within
More informationForward-Looking Statements
William Blair & Company 27 th Annual Growth Stock Conference June 20, 2007 0 Forward-Looking Statements This presentation contains forward-looking statements that are subject to a number of risks and uncertainties,
More information2018 RBC Capital Markets Global Industrials Conference September 8, 2018
2018 RBC Capital Markets Global Industrials Conference September 8, 2018 Safe Harbor and Non-GAAP Financial Metrics Certain statements in this presentation may be deemed to be forward-looking. These statements
More informationFiscal Year th Quarter Earnings Conference Call
Fiscal Year 2017 4 th Quarter Earnings Conference Call November 21, 2017 www.jacobs.com worldwide Forward-Looking Statement Disclaimer Certain statements contained in this presentation constitute forward-looking
More informationWABASH NATIONAL CORPORATION. Investor Update October 2018
WABASH NATIONAL CORPORATION Investor Update October 2018 SAFE HARBOR STATEMENT This presentation contains certain forward-looking statements, as defined by the Private Securities Litigation Reform Act
More informationFull-Year / Fourth Quarter 2010 Results
Full-Year / Fourth Quarter 2010 Results 16 February 2011 Disclaimer This presentation contains certain statements that are neither reported financial results nor other historical information. This presentation
More informationITT Inc. Investor Presentation
ITT Inc. Investor Presentation Safe Harbor This presentation contains forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation
More information2007 Revenue and Results. 2007: strong increase in results Strengthened growth momentum. February 15 th, 2008
2007 Revenue and Results 2007: strong increase in results Strengthened growth momentum February 15 th, 2008 2007 revenue and results Agenda A successful 2007 Be the recognized industry leader John Glen
More informationInvestor Presentation Q1 2018
Investor Presentation Q1 2018 1 Forward-looking statements Safe Harbor Statement This presentation contains forward-looking statements, which may concern our plans, objectives, outlook, goals, strategies,
More informationTENNANT COMPANY INVESTOR PRESENTATION REINVENTING HOW THE WORLD CLEANS
INVESTOR PRESENTATION REINVENTING HOW THE WORLD CLEANS 2 Safe Harbor Statement This presentation contains certain statements that are considered forward-looking statements within the meaning of the Private
More informationSingular Best of the Uncovered 12 th Annual Conference 2017
Dec 4, 2017 Singular Best of the Uncovered 12 th Annual Conference 2017 Michael J. Tschiderer Chief Financial Officer NASDAQ: TRNS 1 Safe Harbor Statement This presentation contains forward-looking statements
More informationInvestor Overview NYSE: CW
Investor Overview NYSE: CW 1 2018 Curtiss Wright Safe Harbor Statement Please note that the information provided in this presentation is accurate as of the date of the original presentation. The presentation
More informationFiscal Year rd Quarter Earnings Conference Call
Fiscal Year 2017 3 rd Quarter Earnings Conference Call August 8, 2017 www.jacobs.com worldwide Forward-Looking Statement Disclaimer Certain statements contained in this presentation constitute forward-looking
More informationSidoti Emerging Growth Conference
Nov 1 2016 Sidoti Emerging Growth Conference Lee D. Rudow President and CEO Michael J. Tschiderer Chief Financial Officer 1 Safe Harbor Statement This presentation contains forward-looking statements within
More informationGabelli 22 nd Annual Aircraft & Connectivity Conference
Gabelli 22 nd Annual Aircraft & Connectivity Conference Jim Ryan, Sr. Director, Investor Relations NYSE: CW 1 September 8, 2016 2016 Curtiss-Wright Safe Harbor Statement Please note that the information
More informationBank of America Global Agriculture and Chemicals Conference
Bank of America Global Agriculture and Chemicals Conference Sergey Vasnetsov SVP, Strategic Planning & Transactions March 2, 2016 Cautionary Statement The statements in this presentation relating to matters
More informationBaird 2018 Global Industrial Conference
Energy Aerospace & Defense Industrial Baird 2018 Global Industrial Conference Scott Buckhout President & CEO November 7, 2018 Safe Harbor This presentation contains forward-looking statements within the
More information2017 Annual financial statements and management discussion and analysis
2017 Annual financial statements and management discussion and analysis Financial section Table of contents Page Financial information (U.S. GAAP)... 2 Frequently used terms... 3 Management s discussion
More informationSouthwest IDEAS Investor Conference
Nov 16 2016 Southwest IDEAS Investor Conference Lee D. Rudow President and CEO Michael J. Tschiderer Chief Financial Officer 1 Safe Harbor Statement This presentation contains forward-looking statements
More informationWaters Corporation Management Presentation
Waters Corporation Management Presentation Chris O Connell Chairman & Chief Executive Officer January 2019 Cautionary Statements This presentation may contain forward-looking statements regarding future
More informationGabelli Research 29 th Annual Pump, Valve & Water Systems Symposium
Energy Aerospace & Defense Industrial Gabelli Research 29 th Annual Pump, Valve & Water Systems Symposium Scott Buckhout CEO 28 February 2019 Safe Harbor This presentation contains forward-looking statements
More informationInvestor Presentation March 2015
Investor Presentation March 2015 Richard L. Simons Chairman, President and Chief Executive Officer Douglas J. Malone Vice President and Chief Financial Officer NASDAQ: HDNG Safe Harbor Statement This presentation
More informationInvestor Overview. Third Quarter 2016 NYSE: CW Curtiss-Wright
Investor Overview Third Quarter 2016 NYSE: CW 1 2016 Curtiss-Wright Safe Harbor Statement Please note that the information provided in this presentation is accurate as of the date of the original presentation.
More informationDriven to Create Value
Driven to Create Value Bank of America Refining Conference March 2016 2015 Corporation. All Rights Reserved. Forward Looking Statements This Presentation includes forward-looking statements within the
More informationITT Inc. Investor Presentation
ITT Inc. Investor Presentation Safe Harbor This presentation contains forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation
More informationThermon Group Holdings, Inc. November 2017
Thermon Group Holdings, Inc. November 2017 1 Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation and related investor conference call and press release contain forward-looking
More informationFiscal Year st Quarter Earnings Conference Call
Fiscal Year 2018 1 st Quarter Earnings Conference Call February 7, 2018 www.jacobs.com worldwide Forward-Looking Statement Disclaimer Certain statements contained in this presentation constitute forward-looking
More informationCarbon Solutions Acquisition and Refined Coal Update
Advanced Emissions Solutions, Inc. Nasdaq: ADES Advancing Cleaner Energy Carbon Solutions Acquisition and Refined Coal Update November 16, 2018 2018 Advanced Emissions Solutions, Inc. All rights reserved.
More informationAcquisition of Stronghold
Acquisition of Stronghold Investor Conference Call Presentation July 21, 2017 Forward Looking Statement Disclaimer This presentation (and oral statements regarding the subject matter of this presentation)
More informationWESCO International John Engel Chairman, President and CEO. William Blair & Company 36 th Annual Growth Stock Conference June 14, 2016
WESCO International John Engel Chairman, President and CEO William Blair & Company 36 th Annual Growth Stock Conference June 14, 2016 Safe Harbor Statement Note: All statements made herein that are not
More informationSECOND QUARTER 2017 HO
SECOND QUARTER 2017 HO20170059 This presentation contains forward-looking statements concerning the expected financial performance of Fluor Corporation and its subsidiaries ( we, our or the Company ) and
More informationWaters Corporation Management Presentation. July 2018
Waters Corporation Management Presentation July 2018 Cautionary Statements This presentation may contain forward-looking statements regarding future results and events. For this purpose, any statements
More informationA global industrial technology company focused on environmental, energy, fluid handling industries. Integrated Clean Air Solutions for Industry
A global industrial technology company focused on environmental, energy, fluid handling industries 1 NOTES TO INVESTORS Forward-Looking Statements and Non-GAAP Information Any statements contained in this
More informationCB&I Reports Fourth Quarter and Full Year 2017 Financial Results
NEWS RELEASE For Immediate Release: February 20, 2018 Investors: Scott Lamb, +1 832 513 1068, Scott.Lamb@CBI.com Media: Gentry Brann, +1 832 513 1031, Gentry.Brann@CBI.com CB&I Reports Fourth Quarter and
More informationQ Earnings. Webcast Presentation April 26, 2018
Q1 2018 Earnings Webcast Presentation April 26, 2018 2 Q1 2018 Earnings Webcast 4/26/18 Safe Harbor Statement All statements made herein that are not historical facts should be considered as forward-looking
More informationInvestor Presentation
Investor Presentation November 2018 SAFE HARBOR STATEMENT & NON-GAAP MEASURES Statements in this presentation include forward-looking statements within the meaning of the Private Securities Litigation
More informationHill-Rom Fourth Quarter 2016 Financial Results. November 3, 2016
Hill-Rom Fourth Quarter 2016 Financial Results November 3, 2016 Forward Looking Statements Certain statements in this presentation contain forward-looking statements, within the meaning of the Private
More informationPursuing Growth Building Value
a global diversified industrial company Pursuing Growth Building Value Sidoti Roadshow December 17-18 Disclosure regarding forward-looking statements Forward-Looking Statements and Factors That May Affect
More informationSecond Quarter Investor Review
Second Quarter 2018 Investor Review Presented July 27, 2018 1 Safe Harbor This presentation contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933, as amended,
More informationZep Inc. Company Overview. October 2013
Zep Inc. Company Overview October 2013 Safe Harbor This release contains, and other written or oral statements made by or on behalf of Zep may include, forward-looking statements, within the meaning of
More informationPraxair, Inc. Matthew J. White Senior Vice President and Chief Financial Officer
Praxair, Inc. Matthew J. White Senior Vice President and Chief Financial Officer December 11, 2014 Forward Looking Statement This document contains forward-looking statements within the meaning of the
More informationInvestor Overview T H I R D Q U A R T E R
Fluor Corporation Investor Overview T H I R D Q U A R T E R 2 0 1 8 Safe Harbor Statement This presentation contains forward-looking statements concerning the expected financial performance of Fluor Corporation
More informationWESCO International John Engel Chairman, President and CEO. EPG Conference May 16, 2016
WESCO International John Engel Chairman, President and CEO Safe Harbor Statement Note: All statements made herein that are not historical facts should be considered as forwardlooking statements within
More informationInvestor Presentation. August 2014
Investor Presentation August 2014 1 Important Disclosures NOTE ON FORWARD-LOOKING STATEMENTS: This presentation and related discussions may contain forward-looking statements about such matters as: our
More informationThe ANDRITZ GROUP Capital Market Days 2009, Spain
The ANDRITZ GROUP Capital Market Days 2009, Spain ANDRITZ Capital Market Days 2009 Contents Current developments of the ANDRITZ GROUP Acquisitions ANDRITZ s markets Capital Market Days goals Summary 2
More informationFLOWSERVE CORPORATION (NYSE: FLS) SIHI Group Acquisition
FLOWSERVE CORPORATION (NYSE: FLS) SIHI Group Acquisition November 14, 2014 Safe Harbor Statement Safe Harbor Statement: This presentation includes forward-looking statements within the meaning of Section
More informationPraxair, Inc. Stephen F. Angel Chairman, President & Chief Executive Officer
Praxair, Inc. Stephen F. Angel Chairman, President & Chief Executive Officer May 28, 2015 Forward Looking Statement This document contains forward-looking statements within the meaning of the Private Securities
More informationEP MINERALS ACQUISITION
EP MINERALS ACQUISITION A rare combination of advantages and strengths March 23, 2018 Disclaimer This presentation contains forward-looking statements that reflect, when made, our current views with respect
More information/// INVESTOR PRESENTATION. July 2018
/// INVESTOR PRESENTATION July 2018 /// FORWARD-LOOKING STATEMENTS Statements contained in this presentation, which are not historical facts, are forward-looking statements as that item is defined in the
More informationInvestor Presentation. March 2013
Investor Presentation March 2013 1 Important Disclosures NOTE ON FORWARD-LOOKING STATEMENTS: This presentation and related discussions contain forward-looking statements about such matters as: our outlook
More informationSept Treasurer. Vice President Finance & Chief Financial Officer
Sept 28 2017 Investor Sidoti & Company Presentation Fall Convention Gregory Mark D. Morelli P. Rustowicz Vice President President and Chief Finance Executive & Chief Officer Financial Officer Jon Gregory
More informationSafe Harbor Disclosure
1 Safe Harbor Disclosure Statements in this presentation or made orally in connection with it, other than historical facts, are considered forward-looking and made in reliance upon the safe harbor of the
More informationFluor Corporation. Investor Overview FIRST QUARTER 2018
Fluor Corporation Investor Overview FIRST QUARTER 2018 Safe Harbor Statement This presentation contains forward-looking statements concerning the expected financial performance of Fluor Corporation and
More informationHuttig Building Products Nasdaq: HBP. Investor Presentation Fall 2016
Huttig Building Products Nasdaq: HBP Investor Presentation Safe Harbor / Non-GAAP Financial Measures SAFE HARBOR / FORWARD LOOKING STATEMENT These presentation materials may contain forward-looking statements
More informationAnnual Meeting. May 28, 2008
Annual Meeting May 28, 28 Cautionary Statement Forward-Looking Statements. Outlooks, projections, estimates, targets, and business plans in this presentation or the subsequent discussion period are forward-looking
More informationBaird 2018 Global Industrial Conference. November 8, 2018
Baird 2018 Global Industrial Conference November 8, 2018 DISCLAIMER Forward-looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities
More informationJefferies 10 th Annual Industrials Conference August 13, 2014
Jefferies 10 th Annual Industrials Conference August 13, 2014 Luis Manuel Ramirez President and CEO Randy K. Guba Senior Vice President and CFO NASDAQ: GLPW www.globalpower.com Forward-Looking Statements
More informationJefferies Global Industrial and A&D Conference. Jay Craig, Senior VP & CFO Mary Lehmann, Senior VP, Treasury & Tax. August 9, 2011
Jefferies Global Industrial and A&D Conference Jay Craig, Senior VP & CFO Mary Lehmann, Senior VP, Treasury & Tax August 9, 2011 1 Forward-Looking Statements This release contains statements relating to
More informationPentair KeyBanc Capital Markets Industrial, Automotive & Transportation Conference
Pentair KeyBanc Capital Markets Industrial, Automotive & Transportation Conference John L. Stauch Chief Financial Officer May30, 2013 PENTAIR FORWARD-LOOKING STATEMENTS CAUTION CONCERNING FORWARD-LOOKING
More informationTHIRD QUARTER 2017 HO
THIRD QUARTER 2017 HO20170059 This presentation contains forward-looking statements concerning the expected financial performance of Fluor Corporation and its subsidiaries ( we, our or the Company ) and
More informationSecond Quarter 2018 Earnings Teleconference. July 31, 2018
Second Quarter 2018 Earnings Teleconference July 31, 2018 CONTENTS Q2 2018 Summary 2018 Guidance Q2 2018 Supplemental Information Appendix 2 Disclosure Regarding Forward-Looking Statements Information
More informationCreating Shareholder Value
Creating Shareholder Value 2011 Disclosure regarding forward-looking statements Throughout this presentation, we make a number of forward-looking statements within the meaning of the Private Securities
More information37 th Annual Raymond James Institutional Investors Conference March 7, 2016
37 th Annual Raymond James Institutional Investors Conference March 7, 2016 Forward Looking Statements and GAAP Disclaimer These slides contain (and the accompanying oral discussion will contain) forward-looking
More informationSeptember 2018 MINERALS TECHNOLOGIES INC. MTI OVERVIEW INNOVATION LEADERSHIP EXCELLENCE
MINERALS TECHNOLOGIES INC. September 2018 MTI OVERVIEW INNOVATION LEADERSHIP EXCELLENCE SAFE HARBOR STATEMENT This presentation may contain forward-looking statements within the meaning of the Private
More informationBank of America Investment Conference
Bank of America Investment Conference Dave Anderson, Senior V.P. and CFO San Francisco, CA September 18, 2006 Forward Looking Statements This report contains forward-looking statements within the meaning
More information