Investor Presentaiton
Reconciliation of Adjusted Segment EBITDA
($'s in Millions)
(unaudited)
Three Months Ended
September 30,
2019
2018
Nine Months Ended
September 30,
2019
2018
27
Construction Products
Revenues
Last Twelve Months Year Ended
September 30,
December 31,
2019
2018
$ 115.9
$ 72.6
$ 337.5
$ 226.7
$ 403.1
$ 292.3
Operating Profit
16.5
15.3
45.3
45.3
50.4
50.4
Add: Depreciation, depletion, and amortization
expense
9.7
5.2
27.5
15.4
34.0
21.9
Segment EBITDA
26.2
20.5
72.8
60.7
84.4
72.3
Add: Impact of the fair value mark up of acquired
inventory
1.4
2.2
0.8
Adjusted Segment EBITDA
Adjusted Segment EBITDA Margin
Energy Equipment
Revenues
$ 26.2
22.6%
$
20.5
28.2%
74.2
$
22.0%
60.7
26.8%
$
86.6
21.5%
$ 73.1
25.0%
$ 210.2
$ 198.4
$ 623.6
$ 573.1
$ 830.6
$ 780.1
Operating Profit
Add: Depreciation and amortization
expense
Segment EBITDA
Add: Impairment Charge
26.6
(13.2)
79.8
12.5
95.9
28.6
6.9
7.4
21.2
22.6
28.3
29.7
33.5
(5.8)
101.0
35.1
124.2
58.3
23.2
23.2
23.2
Adjusted Segment EBITDA
$ 33.5
$
Adjusted Segment EBITDA Margin
15.9%
17.4
8.8%
$ 101.0
16.2%
$ 58.3
10.2%
$ 124.2
$
81.5
15.0%
10.4%
Transportation Products
Revenues
$ 120.6
$ 108.5
$ 333.4
$ 289.3
$ 435.5
$ 391.4
Operating Profit
11.2
13.5
32.1
35.2
45.3
48.4
Add: Depreciation and amortization
4.3
4.2
12.0
11.7
15.8
15.5
expense
Segment EBITDA
15.5
17.7
44.1
46.9
61.1
63.9
Add: Impact of the fair value mark up of acquired
inventory
0.4
0.6
0.6
Adjusted Segment EBITDA
$ 15.9
$ 17.7
$ 44.7
$ 46.9
$ 61.7
$ 63.9
Adjusted Segment EBITDA Margin
13.2%
16.3%
13.4%
16.2%
14.2%
16.3%
Operating Profit - All Other
$
Operating Profit - Corporate
(11.5)
$ (0.1)
(9.1)
$
(34.8)
$ (0.1)
(24.7)
$
$ (0.1)
Eliminations
Corporate Depreciation
(42.2)
(0.3)
(32.1)
(0.3)
Adjusted EBITDA
$
0.8
64.9
2.5
3.0
0.5
$ 46.4
$ 187.6
$ 141.1
$ 233.0
$ 186.5
/ Moving Infrastructure Forward - Investor Presentation, November 2019
"Segment EBITDA" is defined as segment operating profit plus
depreciation, depletion, and amortization. GAAP does not
define Segment EBITDA and it should not be considered as an
alternative to earnings measures defined by GAAP, including
segment operating profit. We use this metric to assess the
operating performance of our businesses, as a metric for
incentive-based compensation, and as a basis for strategic
planning and forecasting as we believe that it closely correlates
to long-term shareholder value, and we believe this metric also
assists investors in comparing a company's performance on a
consistent basis without regard to depreciation, depletion, and
amortization, which can vary significantly depending on many
factors. We adjust Segment EBITDA for certain non-routine
items ("Adjusted Segment EBITDA") to provide a more
consistent comparison of earnings performance from period to
period, which we also believe assists investors in comparing a
company's performance on a consistent basis. "Adjusted
Segment EBITDA Margin" is defined as Adjusted Segment
EBITDA divided by Revenues.
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