Financial Overview
Summary
Sales and profit declines in Q3 in soft market
• Net Sales decreased 15%
•
•
Net Income decreased 68%
Adjusted EBITDA¹ decreased 25%
Updated 2023 outlook
•
.
•
.
Net Sales mid-single digit decrease
Adjusted EBITDA1 mid-single digit decrease
Net Leverage Ratio of approximately 3x at
year-end
Free Cash Flow approximately double 2022
levels
Long-term secular trends remain intact
.
cpi
CPI well-positioned with innovative and high-
quality products and strong customer focus
1)
Adjusted EBITDA is not a measurement of financial performance prepared in accordance with GAAP.
See "Reconciliations of Non-GAAP Financial Measures" at the end of this document for more
information and reconciliations to the most directly comparable GAAP financial measures.
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