FY2023 Separation Roadmap
Outlook & Summary
Reiterating Fiscal 2024 Outlook
FY Adjusted EBITDA
FY Adjusted EPS
Net Interest Expense
Fiscal Year 2024 Assumptions
Fully diluted average share count: ~127M
■ FY effective tax rate: 22%
■ Q2-Q4 effective tax rate: 26%-27%
■ Annual CAPEX: ~1% of net revenue
FY23
FY24E1
Y/Y Growth (at mid-point)
☐
$1.44B
$1.53B $1.60B
9%
$7.20
$7.70 - $8.20
10%
$142M
$130M $140M
(5%)
$80M
$75M - $85M
21.6%
22.0%
☐
Depreciation: ~$110M
Adj. Non-Controlling Interest
FY Effective Tax Rate
Additional Considerations
■ Remain committed to double-digit multi-year earnings growth driven by accelerating
revenue, improving margin performance, strong backlog and a robust global sales pipeline
aligned with our strategic accelerators.
"
Incorporates full-year contribution of businesses to be separated.
Adj. FCF conversion > 100%
■ P&PS Adj. OP margin > 14.6%
24
Note: See Use of Non-GAAP financial measures and operating metrics at the end of this presentation.
1Reconciliation of expected fiscal year 2024 adjusted EPS and adjusted EBITDA, net interest expense, adjusted non-controlling interests and adjusted
free cash flow conversion for fiscal year 2024 to the most directly comparable GAAP measure is not available without unreasonable efforts because
the Company cannot predict with sufficient certainty all the components required to provide such reconciliation, including with respect to the costs and
charges relating to transaction expenses, restructuring and integration and other non-recurring or unusual items to be incurred in such periods.View entire presentation