Investor Presentaiton
Outlook & Summary
Initiating Fiscal 2024 Outlook¹
FY23
FY24E²
Y/Y Growth (at mid-point)
FY Adjusted EBITDA
$1.44B
$1.53B $1.60B
9%
FY Adjusted EPS
$7.20
$7.70 - $8.20
10%
Net Interest Expense
$142M
$130M $140M
(5%)
Adj. Non-Controlling Interest
$80M
$75M - $85M
Effective Tax Rate
21.6%
22.0%
> 100%³
Underlying FCF Conversion
Additional Considerations
104%
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.
FY24 expected effective tax rate of 22% has an impact as compared to our FY23 effective tax rate of 21.6%.
Full Year 2024 Assumptions
■ FY 2024 fully diluted average share
count: ~127M
■ Annual CAPEX: ~1% of net revenue
☐
Depreciation: ~$110M
Q1 FY2024 Assumptions
Approximately 10% negative year-over-
year adjusted EPS decline
~$0.25 year-over-year headwind
associated with one-time favorable
impact from employee benefit plan
change in comparison period plus higher
other employee related costs during
current period
■ Strong underlying growth
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1See Non-GAAP reconciliation and operating metrics at the end of presentation.
2Reconciliation of expected fiscal year 2024 adjusted EPS and adjusted EBITDA, and net interest expense and adjusted non-controlling interests 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.
3
3 Before the impact of restructuring, transaction and separation costs.View entire presentation