FY2023 Separation Roadmap
Fiscal 2024 Q1 results
Revenue up 9.5% y/y, adjusted net revenue increased 7% y/y and up 5.4% in constant currency
GAAP Operating Profit (OP) of $204M1 and OP Margin of 4.9%
Adj. OP of $322M1 down 3.1%; Adj. OP Margin (% of Adj. Net Revenue) of 9.8%
GAAP Net Earnings from Continuing Operations of $172M²
GAAP EPS from Continuing Operations of $1.37² includes:
$0.27 of expense net of NCI related to the amortization of acquired intangibles
$0.37 of transaction, restructuring and other related costs
Adj. EPS of $2.02² includes:
$0.49 for a non-cash deferred tax benefit
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($0.09) for a non-cash inventory write down
Adjusted EBITDA of $328M1, with adjusted EBITDA margin 10% of Adj. Net Revenue
Q1 revenue book-to-bill 1.12x and gross profit in backlog up over 6.1% y/y
Note: See Use of Non-GAAP financial measures and operating metrics at the end of this presentation.
1
1 Includes $15M pre-tax non-cash inventory write down in Divergent Solutions.
18 2 Includes $61.6M non-cash deferred tax benefit related to an overseas subsidiary.View entire presentation