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Sensata Technologies Holding plc (NYSE:ST) Q1 2024 Results Conference Call April 29, 2024 4:30 PM ET Company Participants Alexia Taxiarchos - VP, Corporate Communications Jeff Cote - CEO, President Brian Roberts - CFO Conference Call Participants Wamsi Mohan - Bank of America Matt Sheerin - Stifel Mark Delaney - Goldman Sachs Christopher Glynn - Oppenheimer Shreyas Patil - Wolfe Research William Stein - Truist Securities Manmohanpreet Singh - JP Morgan Luke Junk - Baird Joe Giordano - TD Cowen Irvin Liu - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34652 SENSATA TECHNOLOGIES HOL ...

[Sensata Technologies Q1 2024 Financial Results Overview](index=1&type=section&id=Sensata%20Technologies%20Q1%202024%20Financial%20Results%20Overview) [Q1 2024 Highlights and CEO Statement](index=1&type=section&id=Q1%202024%20Highlights%20and%20CEO%20Statement) Sensata Technologies reported a solid Q1 2024, achieving upper-end guidance for revenue and adjusted operating margin, securing over **$1.3 billion** in electrification business - Sensata Technologies reported a solid start to Q1 2024, with revenue and adjusted operating margin reaching the upper end of guidance[2](index=2&type=chunk) - The company secured over **$1.3 billion** in electrification business over the past three years, solidifying its position as a trusted electrification partner[2](index=2&type=chunk) [First Quarter 2024 Financial Performance](index=1&type=section&id=First%20Quarter%202024%20Financial%20Performance) [Key Financial Metrics](index=1&type=section&id=Key%20Financial%20Metrics) Sensata's Q1 2024 revenue increased 0.9% to **$1,006.7 million**, while operating income decreased 2.7% to **$144.8 million**, and adjusted diluted EPS fell 3.3% to **$0.89** Q1 2024 Key Financial Metrics (Year-over-Year) | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | Change (%) | |:--------------------|:-------------------|:-------------------|:---------| | Revenue | $1,006.7 | $998.2 | +0.9% | | Revenue (Constant Currency) | N/A | N/A | +2.3% | | Operating Income | $144.8 | $148.8 | -2.7% | | Operating Income (% of Revenue) | 14.4% | 14.9% | -0.5 pp | | Adjusted Operating Income | $188.5 | $192.9 | -2.3% | | Adjusted Operating Income (% of Revenue) | 18.7% | 19.3% | -0.6 pp | | Diluted EPS | $0.50 | $0.56 | -10.7% | | Adjusted Diluted EPS | $0.89 | $0.92 | -3.3% | | Adjusted Diluted EPS (Constant Currency) | N/A | N/A | +1.1% | [Cash Flow and Shareholder Returns](index=2&type=section&id=Cash%20Flow%20and%20Shareholder%20Returns) Sensata's Q1 2024 operating cash flow increased to **$106.5 million** and free cash flow to **$64.4 million**, with **$28.1 million** returned to shareholders via dividends and share repurchases Q1 2024 Cash Flow and Shareholder Returns | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | Change | |:-----------------------|:-------------------|:-------------------|:-------| | Operating Cash Flow | $106.5 | $96.9 | +$9.6M | | Free Cash Flow | $64.4 | $60.0 | +$4.4M | | Total Shareholder Returns | $28.1 | N/A | N/A | | Dividends Paid | $18.1 | N/A | N/A | | Shares Repurchased | $10.1 | N/A | N/A | [Second Quarter 2024 Guidance](index=2&type=section&id=Second%20Quarter%202024%20Guidance) [Q2 2024 Financial Outlook](index=2&type=section&id=Q2%202024%20Financial%20Outlook) Sensata forecasts Q2 2024 revenue between **$1.025 billion** and **$1.055 billion**, a 1-3% year-over-year decrease, with adjusted EPS projected at **$0.89** to **$0.95**, down 2-8% Q2 2024 Guidance (Year-over-Year) | Metric | Q2 2024 Guidance | Q2 2023 | Y/Y Change | |:--------------------|:-------------------|:-------------------|:---------| | Revenue | $1,025 - $1,055M | $1,062.1M | (3%) - (1%) | | Organic Growth | N/A | N/A | (2%) - 1% | | Adjusted Operating Income | $192 - $202M | $205.7M | (7%) - (2%) | | Adjusted Net Income | $134 - $144M | $149.2M | (10%) - (4%) | | Adjusted EPS | $0.89 - $0.95 | $0.97 | (8%) - (2%) | - Foreign exchange rate changes are expected to reduce Q2 2024 revenue by approximately **$13 million** and adjusted EPS by approximately **$0.02**[9](index=9&type=chunk) [Company Information and Disclosures](index=2&type=section&id=Company%20Information%20and%20Disclosures) [Conference Call and Webcast Information](index=2&type=section&id=Conference%20Call%20and%20Webcast%20Information) Sensata Technologies held a conference call on April 29, 2024, to discuss Q1 2024 financial results and Q2 outlook, with dial-in and webcast details provided - Sensata held a conference call on April 29, 2024, to discuss Q1 2024 financial results and the Q2 outlook[10](index=10&type=chunk) - The conference call dial-in numbers are 1-844-784-1726 or 1-412-380-7411, with the conference name 'Sensata Q1 2024 Financial Results Conference Call'[10](index=10&type=chunk) - The webcast is available on the company's investor relations page at http://investors.sensata.com, with replay services until May 6, 2024[10](index=10&type=chunk) [About Sensata Technologies](index=2&type=section&id=About%20Sensata%20Technologies) Sensata Technologies is a global industrial technology company focused on creating a cleaner, more efficient, electrified, and connected world through advanced sensing solutions - Sensata Technologies is a global industrial technology company committed to creating a cleaner, more efficient, electrified, and connected world[11](index=11&type=chunk) - The company serves automotive, heavy vehicle and off-road, industrial, and aerospace markets with a wide range of sensors, electrical protection components, and sensor-rich solutions[11](index=11&type=chunk) - Sensata employs over **21,000** people across **16** countries worldwide[11](index=11&type=chunk) [Non-GAAP Financial Measures: Definitions](index=2&type=section&id=Non-GAAP%20Financial%20Measures%3A%20Definitions) Sensata supplements GAAP reporting with non-GAAP financial measures, including adjusted net income, adjusted EPS, and free cash flow, for internal operations, strategic decisions, and investor transparency - Sensata uses non-GAAP financial measures such as adjusted net income, adjusted EPS, adjusted operating income, free cash flow, organic revenue growth, and adjusted EBITDA to supplement GAAP reporting[15](index=15&type=chunk) - These non-GAAP metrics are utilized for internal operations and strategic decisions, including annual operating plan development, overall business performance assessment, and certain employee compensation determinations[12](index=12&type=chunk) - The company believes these measures aid in understanding ongoing operations, analyzing operating trends, and providing additional transparency[13](index=13&type=chunk) [Safe Harbor Statement](index=5&type=section&id=Safe%20Harbor%20Statement) This earnings release contains forward-looking statements regarding future financial and operating performance, subject to various risks and uncertainties that could materially affect actual results - This earnings release contains forward-looking statements concerning expectations, forecasts, and assumptions about future financial and operating performance, objectives, business, and market outlook[25](index=25&type=chunk) - These statements are subject to various potential risks, uncertainties, and other factors, including global market instability, supplier disruptions, business acquisitions or dispositions, industry competition, intellectual property, product liability, warranty and recall claims, new product market acceptance, and labor disputes[26](index=26&type=chunk) - Investors should carefully consider these factors and other risks described in the company's Form 10-K and Form 10-Q reports, with no obligation to update these statements unless legally required[27](index=27&type=chunk) [Media & Investor Contact](index=14&type=section&id=Media%20%26%20Investor%20Contact) Contact information for media and investors is provided, including the name, phone number, and email address of Alexia Taxiarchos - Media and Investor Contact: Alexia Taxiarchos, Phone: (508) 236-1761, Email: ataxiarchos@sensata.com, investors@sensata.com[50](index=50&type=chunk) [Condensed Consolidated Financial Statements](index=6&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Sensata's Q1 2024 net revenue was **$1,006.7 million**, slightly above Q1 2023, with operating income decreasing to **$144.8 million** and net income falling to **$76.0 million** Q1 2024 Condensed Consolidated Statements of Operations | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | |:--------------------------------|:-------------------|:-------------------| | Net revenue | $1,006.7 | $998.2 | | Total operating costs and expenses | $861.9 | $849.3 | | Operating income | $144.8 | $148.8 | | Income before taxes | $98.6 | $110.1 | | Provision for income taxes | $22.6 | $23.7 | | Net income | $76.0 | $86.4 | | Diluted EPS | $0.50 | $0.56 | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets were **$7.616 billion**, slightly down from December 31, 2023, with cash and equivalents at **$460.4 million** and total liabilities at **$4.641 billion** March 31, 2024 Condensed Consolidated Balance Sheets | Metric | March 31, 2024 (Millions) | December 31, 2023 (Millions) | |:--------------------------------|:--------------------------|:--------------------------| | Cash and cash equivalents | $460.4 | $508.1 | | Total current assets | $2,098.5 | $2,102.4 | | Total assets | $7,616.0 | $7,681.0 | | Total current liabilities | $794.0 | $823.7 | | Long-term debt, net | $3,375.5 | $3,374.0 | | Total liabilities | $4,641.1 | $4,684.7 | | Total shareholders' equity | $2,974.8 | $2,996.3 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, net cash from operating activities increased to **$106.5 million**, with **$42.1 million** used in investing activities and **$107.9 million** in financing activities, primarily due to reduced debt payments Q1 2024 Condensed Consolidated Statements of Cash Flows | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | |:------------------------------------|:-------------------|:-------------------| | Net cash provided by operating activities | $106.5 | $96.9 | | Net cash used in investing activities | $(42.1) | $(22.9) | | Net cash used in financing activities | $(107.9) | $(265.4) | | Net change in cash and cash equivalents | $(47.7) | $(191.4) | | Cash and cash equivalents, end of period | $460.4 | $1,034.1 | [Segment and Revenue Analysis](index=9&type=section&id=Segment%20and%20Revenue%20Analysis) [Segment Performance Overview](index=9&type=section&id=Segment%20Performance%20Overview) In Q1 2024, Sensata adjusted segments, moving 'Insights' to 'Other', with Performance Sensing revenue increasing to **$713.3 million** and Sensing Solutions revenue decreasing to **$257.8 million** Q1 2024 Segment Performance (Year-over-Year) | Segment | Q1 2024 Revenue (Millions) | Q1 2023 Revenue (Millions) | Q1 2024 Operating Income (Millions) | Q1 2023 Operating Income (Millions) | Q1 2024 Operating Margin | Q1 2023 Operating Margin | |:------------------|:---------------------------|:---------------------------|:------------------------------------|:------------------------------------|:-------------------------|:-------------------------| | Performance Sensing | $713.3 | $667.8 | $185.1 | $169.1 | 26.0% | 25.3% | | Sensing Solutions | $257.8 | $283.5 | $72.5 | $84.0 | 28.1% | 29.6% | | Other | $35.6 | $47.0 | $6.8 | $5.0 | 19.1% | 10.6% | - Effective January 1, 2024, the company adjusted its operating segments, moving 'Insights' from Performance Sensing to a new 'Other' segment, with prior-period data restated accordingly[35](index=35&type=chunk) [Revenue by Business, Geography, and End Market](index=10&type=section&id=Revenue%20by%20Business%2C%20Geography%2C%20and%20End%20Market) In Q1 2024, Performance Sensing comprised **70.9%** of total revenue, Sensing Solutions decreased to **25.6%**, and Automotive remained the largest end market at **55.9%** Q1 2024 Revenue Composition (Percentage of Total Revenue) | Category | Q1 2024 | Q1 2023 | |:------------------------|:------|:------| | **By Business:** | | | | Performance Sensing | 70.9% | 66.9% | | Sensing Solutions | 25.6% | 28.4% | | Other | 3.5% | 4.7% | | **By Geography:** | | | | Americas | 42.6% | 45.3% | | Europe | 28.3% | 27.2% | | Asia/Rest of World | 29.1% | 27.5% | | **By End Market:** | | | | Automotive | 55.9% | 52.6% | | Heavy vehicle and off-road | 18.8% | 17.5% | | Industrial | 12.4% | 14.9% | | Appliance and HVAC | 4.7% | 4.8% | | Aerospace | 4.6% | 4.4% | | All other | 3.6% | 5.8% | - Effective January 1, 2024, the Insights business was moved to the 'All other' end market, and prior-period information in the table has been restated accordingly[40](index=40&type=chunk) [GAAP to Non-GAAP Reconciliations](index=11&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliations) [Operating Income and Margin, Net Income, and Earnings Per Share Reconciliation](index=11&type=section&id=Operating%20income%20and%20margin%2C%20income%20tax%2C%20net%20income%2C%20and%20earnings%20per%20share) This section details the Q1 2024 and Q1 2023 GAAP to adjusted non-GAAP reconciliation for operating income, net income, and diluted EPS, including restructuring and transaction costs Q1 2024 Operating Income, Net Income, and EPS Reconciliation | Metric | Reported (GAAP) Q1 2024 (Millions) | Total Adjustments Q1 2024 (Millions) | Adjusted (non-GAAP) Q1 2024 (Millions) | Reported (GAAP) Q1 2023 (Millions) | Total Adjustments Q1 2023 (Millions) | Adjusted (non-GAAP) Q1 2023 (Millions) | |:--------------------|:---------------------------|:---------------------------|:-----------------------------|:---------------------------|:---------------------------|:-----------------------------| | Operating Income | $144.8 | $43.7 | $188.5 | $148.8 | $44.1 | $192.9 | | Operating Margin | 14.4% | 4.3% | 18.7% | 14.9% | 4.4% | 19.3% | | Net Income | $76.0 | $58.6 | $134.6 | $86.4 | $54.2 | $140.7 | | Diluted EPS | $0.50 | $0.39 | $0.89 | $0.56 | $0.35 | $0.92 | - Q1 2024 adjustments include a **$14.8 million** mark-to-market loss on an equity investment, reported in 'Other, net' on the condensed consolidated statements of operations[42](index=42&type=chunk)[43](index=43&type=chunk) [Free Cash Flow Reconciliation](index=12&type=section&id=Free%20cash%20flow) Q1 2024 free cash flow increased 7.3% to **$64.4 million**, driven by **$106.5 million** net cash from operating activities, offset by **$42.1 million** in capital expenditures Q1 2024 Free Cash Flow Reconciliation | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | Change (%) | |:----------------------------------------------------|:-------------------|:-------------------|:---------| | Net cash provided by operating activities | $106.5 | $96.9 | 9.9% | | Additions to property, plant and equipment and capitalized software | $(42.1) | $(36.9) | (14.2%) | | Free cash flow | $64.4 | $60.0 | 7.3% | [Adjusted Corporate and Other Expenses Reconciliation](index=12&type=section&id=Adjusted%20corporate%20and%20other%20expenses) Q1 2024 adjusted corporate and other expenses were **$(74.5) million**, compared to **$(63.4) million** in Q1 2023, including adjustments for restructuring, transaction costs, and depreciation Q1 2024 Adjusted Corporate and Other Expenses Reconciliation | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | |:------------------------------------|:-------------------|:-------------------| | Corporate and other expenses (GAAP) | $(80.3) | $(62.4) | | Total adjustments | $5.8 | $(1.0) | | Adjusted corporate and other expenses (non-GAAP) | $(74.5) | $(63.4) | [Adjusted EBITDA Reconciliation](index=13&type=section&id=Adjusted%20EBITDA) Q1 2024 adjusted EBITDA was **$223.8 million**, slightly below Q1 2023's **$225.5 million**, reconciled from net income by adding back interest, taxes, depreciation, amortization, and non-GAAP adjustments Q1 2024 Adjusted EBITDA Reconciliation | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | |:--------------------------|:-------------------|:-------------------| | Net income | $76.0 | $86.4 | | EBITDA | $205.3 | $222.0 | | Non-GAAP Adjustments | $18.6 | $3.5 | | Adjusted EBITDA | $223.8 | $225.5 | [Net Debt and Leverage Reconciliation](index=13&type=section&id=Net%20debt%20and%20leverage) As of March 31, 2024, total gross indebtedness was **$3.425 billion**, with a gross leverage ratio of **3.8x**, and net debt was **$2.965 billion**, resulting in a net leverage ratio of **3.3x** March 31, 2024 Net Debt and Leverage | Metric | March 31, 2024 (Millions) | December 31, 2023 (Millions) | |:------------------------------------|:--------------------------|:--------------------------| | Total gross indebtedness | $3,424.9 | $3,425.2 | | Adjusted EBITDA (LTM) | $905.0 | $906.6 | | Gross leverage ratio | 3.8 | 3.8 | | Net debt | $2,964.6 | $2,917.1 | | Net leverage ratio | 3.3 | 3.2 | [Q2 2024 Guidance Reconciliation](index=14&type=section&id=Q2%202024%20Guidance%20Reconciliation) This section provides the Q2 2024 GAAP to non-GAAP guidance reconciliation for operating income, net income, and EPS, with non-GAAP adjustments primarily including restructuring and transaction costs Q2 2024 Guidance (GAAP to Non-GAAP Reconciliation) | Metric | GAAP Low | GAAP High | Non-GAAP Low | Non-GAAP High | |:------------------------------------|:-------|:--------|:-----------|:------------| | Operating Income (Millions) | $140.5 | $145.0 | $192.0 | $202.0 | | Net Income (Millions) | $77.0 | $80.3 | $134.0 | $144.0 | | EPS | $0.50 | $0.53 | $0.89 | $0.95 |

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________________________________ FORM 10-K __________________________________________________________________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO ...

Sensata Technologies Holding plc (NYSE:ST) Q4 2023 Earnings Conference Call February 6, 2024 8:00 AM ET Company Participants Jacob Sayer - Vice President of Finance Jeffrey Cote - President & Chief Executive Officer Brian Roberts - Chief Financial Officer Conference Call Participants Ruplu Bhattacharya - Bank of America Mark Delaney - Goldman Sachs Matt Sheerin - Stifel Christopher Glynn - Oppenheimer Samik Chatterjee - JPMorgan Steven Fox - Fox Advisors Luke Junk - Baird Shreyas Patil - Wolfe Research Amit ...

Revenue Performance - Net revenue for Q3 2023 was $1,001.3 million, a decrease of 1.7% from $1,018.3 million in Q3 2022, with organic revenue decline of 0.7%[94] - For the nine months ended September 30, 2023, net revenue increased by 1.6% to $3,061.6 million, with organic growth of 2.4% after adjusting for foreign currency effects and acquisitions[95] - Performance Sensing net revenue for Q3 2023 increased by 2.0% compared to the prior period, with organic growth of 3.1% after adjusting for foreign currency effects[109] - Sensing Solutions net revenue for Q3 2023 decreased by 11.3%, reflecting weakness in various markets, with an organic decline of 10.9%[113] Operating Income and Expenses - Operating income for Q3 2023 decreased by 54.0% to $116.3 million, representing 11.6% of net revenue, compared to $252.9 million (24.8% of net revenue) in Q3 2022[97] - For the three months ended September 30, 2023, cost of revenue as a percentage of net revenue increased due to unfavorable foreign currency exchange rates and inflation impacts, partially offset by cost savings from repositioning actions taken in fiscal year 2022[117] - For the nine months ended September 30, 2023, cost of revenue as a percentage of net revenue increased primarily due to a $10.5 million inventory write-down from exiting the Spear Marine Business[118] - Research and development (R&D) expense decreased for the three months ended September 30, 2023, primarily due to cost savings from repositioning actions taken in fiscal year 2022[120] - Selling, general and administrative (SG&A) expense decreased for the three months ended September 30, 2023, due to cost savings and lower compensation expenses[122] - Restructuring and other charges resulted in a net charge of $26.0 million for the three months ended September 30, 2023, compared to a net gain of $(107.4) million in the prior period[128] - Operating income decreased for the three months ended September 30, 2023, primarily due to the non-recurrence of a gain on the sale of the Qinex Business[131] Cash Flow and Financial Position - Operating cash flows generated in the nine months ended September 30, 2023 were $351.6 million, with cash and cash equivalents totaling $889.7 million[98] - Free cash flow for the nine months ended September 30, 2023, was $215.4 million, compared to $125.3 million in the same period of 2022[161] - The company reported a net cash provided by operating activities of $351.6 million for the nine months ended September 30, 2023[161] - Cash and cash equivalents totaled $889.7 million as of September 30, 2023, a decrease from $1,225.5 million at the end of 2022[166] - The company had $746.1 million available under the Revolving Credit Facility as of September 30, 2023[178] - The net leverage ratio improved to 3.1 as of September 30, 2023, compared to 3.4 at the end of 2022[165] - Total gross indebtedness as of September 30, 2023, was $3.825 billion, down from $4.273 billion as of December 31, 2022[175] Future Outlook and Plans - The company expects a revenue headwind of approximately $35 million to $40 million in Q4 2023 due to the UAW strike[96] - The Q3 2023 Plan includes a reduction of 451 positions, with expected restructuring charges between $20.5 million and $25.5 million, and an accrued charge of $21.4 million in Q3 2023[102] - Annualized savings from the Q3 2023 Plan are projected to be approximately $40 million to $50 million, with personnel-related cost savings of $4 million to $6 million expected in Q4 2023[103] - Capital expenditures for fiscal year 2023 are anticipated to be between $170.0 million and $180.0 million[173] - The company plans to fund capital expenditures with cash on hand, indicating a focus on maintaining liquidity[173] Shareholder Returns - In the nine months ended September 30, 2023, the company paid aggregate cash dividends of $53.4 million, an increase from $34.3 million in the same period of 2022[185] - The quarterly dividend was increased to $0.12 per share in the second quarter of 2023, up from $0.11 per share in the second quarter of 2022[185] - The company repurchased 1.5 million ordinary shares in the nine months ended September 30, 2023, compared to 5.2 million shares in the same period of 2022[184] - As of September 30, 2023, approximately $164.2 million remained available for share repurchase under the new $500.0 million program authorized on September 26, 2023[184] Tax and Interest - The provision for income taxes decreased by $28.6 million for the three months ended September 30, 2023, predominantly due to lower profit before tax[141] - Interest expense, net decreased by $7.9 million for the three months ended September 30, 2023, primarily due to lower interest expense on the Term Loan and increased interest income[133] Adjusted Metrics - Adjusted operating income and adjusted EPS are used by the company for internal planning and evaluation of overall business performance[142] - For the three months ended September 30, 2023, the reported operating income was $116.3 million with an operating margin of 11.6%[158] - Adjusted operating income for the same period was $191.6 million, reflecting an adjusted operating margin of 19.1%[158] - The adjusted net income for Q3 2023 was $138.3 million, resulting in an adjusted diluted EPS of $0.91[158] - For the nine months ended September 30, 2023, the reported operating income was $383.1 million with a margin of 12.5%[159] - The adjusted operating income for the same nine-month period was $590.3 million, with an adjusted operating margin of 19.3%[159] - Adjusted EBITDA for the last twelve months (LTM) was $932.9 million, compared to $903.9 million for the same period last year, reflecting a growth of approximately 3.5%[165] Accounting and Risk - No significant changes to market risk have occurred since December 31, 2022[188] - There are no recently issued accounting standards that have had or are expected to have a material impact on the company's financial position or results of operations[186] - The company continues to utilize critical accounting policies that require significant judgments and estimates, as discussed in the 2022 Annual Report[187]

Sensata Technologies Holding plc (NYSE:ST) Q3 2023 Earnings Conference Call October 31, 2023 8:00 AM ET Company Participants Jacob Sayer - Vice President of Finance Jeffrey Cote - President & Chief Executive Officer Paul Vasington - Chief Financial Officer Brian Roberts - Chief Financial Officer Conference Call Participants Mark Delaney - Goldman Sachs Wamsi Mohan - Bank of America Samik Chatterjee - JPMorgan Amit Daryanani - Evercore ISI Steven Fox - Fox Advisors LLC Luke Junk - Baird William Stein - Truis ...

Free Cash Flow ($ millions) $87 $57 Q3-23 Q3-22 $401M* 6 SENSATA Q3-2023 EARNINGS PRESENTATION Q3-2023 Financial Summary ADJUSTED OPERATING MARGIN WALK Q3-22 TO Q3-23 • Revenue decline YoY of (1.7%) composed of: • Adjusted operating income decreased (2.9%) YoY due to: ◦ Adj. operating margin increased 90 bps YoY ex-FX • ANI and Adj. EPS grew on deleveraging and share repurchases 8 SENSATA Q3-2023 EARNINGS PRESENTATION 9 | Sensata Proprietary Information. Strictly Confidential. Revenue $754.0 $739.4 Q3-23 Q3 ...