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Goodrich Corporation reported first quarter 2008 results with sales growth of 13% and segment operating income margin increasing from 14.9% to 17.3%. Net income per diluted share increased 59% to $1.24, including $0.03 from discontinued operations. For full-year 2008, Goodrich increased its sales outlook to $7.2-7.3 billion (13-14% growth) and net income per diluted share outlook to $4.30-$4.45 (14-18% growth). Key drivers included strong commercial aircraft production and aftermarket demand as well as positions on new defense platforms.

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Goodrich Corporation First Quarter 2008 Results April 24, 2008
Forward Looking Statements Certain statements made in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's future plans, objectives and expected performance. The Company cautions readers that any such forward- looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks, and actual results may differ materially. Important factors that could cause actual results to differ include, but are not limited to: demand for and market acceptance of new and existing products, such as the Airbus A350 XWB and A380, the Boeing 787 Dreamliner, the Embraer 190, the Dassault Falcon 7X, and the Lockheed Martin F- 35 Lightning II and F-22 Raptor; the health of the commercial aerospace industry, including the impact of bankruptcies and/or mergers in the airline industry; global demand for aircraft spare parts and aftermarket services; and other factors discussed in the Company's filings with the Securities and Exchange Commission and in the Company's April 24, 2008 First Quarter 2008 Results press release. The Company cautions you not to place undue reliance on the forward-looking statements contained in this presentation, which speak only as of the date on which such statements were made. The Company undertakes no obligation to release publicly any revisions to these forward- looking statements to reflect events or circumstances after the date on which such statements were made or to reflect the occurrence of unanticipated events. 2
Financial and Operational Highlights 3
First Quarter 2008 Highlights Completed acquisition of TEAC Aerospace Holdings, a leading provider of airborne mission data Announced contracts to supply several advanced systems for use on the new Gulfstream G650 large business jet Increased share repurchase program to $600 million, primarily to minimize dilution from share-based compensation plans First quarter 2008 results, compared with first quarter 2007 Sales grew 13% - above market growth rates in all major market channels Segment OI margin increased from 14.9% to 17.3% Net income per diluted share of $1.24 – a 59% increase over first quarter 2007 – Includes income of $0.03 per diluted share from discontinued operations 4
2008 Outlook Full Year 2008 Outlook Increased outlook for sales and net income per diluted share – Sales outlook increased to $7.2 - $7.3 billion, from prior outlook of $7.1 - $7.2 billion Approximately 13 - 14% growth over 2007 results – Outlook for net income per diluted share increased to $4.30 - $4.45, from prior outlook of $4.15 - $4.30 Approximately 14 - 18% growth over 2007 results Includes expected effective tax rate of 33 – 35%, and assumes reinstatement of R&D tax credit – Net cash provided by operating activities, minus capital expenditures, expected to be greater than 75% of net income Capital expenditure outlook raised to $275 - $325 million, primarily due to: Purchase rather than lease equipment, Increased spending for low cost country manufacturing and MRO facilities, Acceleration of U.S. capital spending to take advantage of bonus depreciation as part of U.S. Government stimulus plan 5
Delivering Sustained Sales Growth and Margin Expansion Sales $M Segment Operating Income Margins (Trailing Four Qtrs.) (Trailing Four Qtrs.) 7,000 18.0% 6,500 16.0% 14.0% 6,000 12.0% 5,500 10.0% 5,000 8.0% 4,500 6.0% 4,000 4.0% 3,500 2.0% 0.0% 3,000 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q4 Q2 Q4 Q2 Q4 Q2 Q4 2004 2005 2005 2006 2006 2007 2007 2004 2005 2005 2006 2006 2007 2007 6
Year-over-Year Financial Results 7
First Quarter 2008 – Financial Summary Year-over-Year Performance 1st Qtr 1st Qtr (Dollars in Millions, excluding EPS) 2008 2007 Change Sales $1,745 $1,546 13% Segment operating income $302 $230 31% - % of Sales 17.3% 14.9% +2.4% Income - Continuing Operations $154 $ 99 55% - Net Income $158 $100 58% Diluted EPS - Continuing Operations $1.21 $0.78 55% - Net Income $1.24 $0.78 59% 8
First Quarter 2008 Year-over-Year Financial Change Analysis (Dollars in Millions) Net Income After-tax Net Item Sales per Diluted Income Share First Quarter 2007 – Net Income $1,546 $99 $0.78 Increased overall volume, efficiency, mix, other $185 $44 $0.33 Contract accounting cumulative catch-up adjustments $12 $0.10 Foreign exchange translation costs $14 ($8) ($0.06) Share-based compensation $5 $0.04 Corporate G&A and Other Income (Expense) $4 $0.03 Discontinued Operations $2 $0.02 First Quarter 2008 – Net Income $1,745 $158 $1.24 9
First Quarter 2008 Year-over-Year Segment Results 1st Quarter 1st Quarter Change 2008 2007 Dollars in Millions $ % Sales Actuation and Landing Systems $682 $567 $115 20% Nacelles and Interior Systems $621 $547 $74 13% Electronic Systems $442 $432 $10 2% Total Sales $1,745 $1,546 $199 13% Segment OI Actuation and Landing Systems $74 $49 $25 50% Nacelles and Interior Systems $179 $126 $53 42% Electronic Systems $49 $55 ($6) (10%) Total Segment OI $302 $230 $72 31% Segment Margin Actuation and Landing Systems 10.9% 8.7% N/A +2.2% Nacelles and Interior Systems 28.8% 23.0% N/A +5.8% Electronic Systems 11.1% 12.6% N/A (1.5%) Overall Segment Margin 17.3% 14.9% N/A +2.4% 10
Summary Cash Flow Information Item 1st Quarter 1st Quarter (Dollars in Millions) 2008 2007 Income from Continuing Operations $154 $99 Depreciation and Amortization $64 $60 Working Capital – (increase)/decrease – defined ($73) ($100) as the sum of A/R, Inventory and A/P Deferred income taxes and taxes payable $98 $42 Accrued expenses, other (including pension contributions) ($92) $27 Cash Flow from Operations $151 $128 Pension Contributions - worldwide ($9) ($11) Capital Expenditures ($54) ($36) 11
Sales by Market Channel 12
First Quarter 2008 Sales by Market Channel Total Sales $1.745 Billion Total Commercial OE Other Total Defense and 6% 34% Space Boeing 24% Commercial OE 10% Defense & Airbus Space, OE & Commercial OE Aftermarket 16% 24% OE AM Regional, Business & Gen. Av. OE 8% Large Commercial Aircraft Aftermarket 29% Regional, Business & General Aviation Aftermarket 7% Total Commercial Aftermarket 36% Balanced business mix; aftermarket represents 45% of total sales 13
Sales by Market Channel First Quarter 2008 Change Analysis Actual Goodrich Change Comparisons 1Q 2008 vs. 1Q 2008 vs. 1Q 2007 4Q 2007 Boeing and Airbus – Aircraft Deliveries 13% 6% OE Production Regional, Business & General Aircraft Deliveries 23% 7% Aviation - OE Aftermarket – Large ASMs, Age, Cycles, Commercial, Regional, 10% 11% Fleet size Business and GA Defense and Space – US, UK Defense 13% (5%) OE and Aftermarket Budgets Other IGT, Other 23% 1% Goodrich Total Sales 13% 5% 14
2008 Outlook 15
2008 Sales Expectations By Market Channel Full Year 2007 2008 2007 Goodrich Goodrich Market Market expectations - 2009 and beyond Actual Expected Sales Mix Growth Growth 10% Boeing OE Del. Growth continues for 737, 777, A320; 15% Airbus OE Del. A380, 787 and A350 introductions support deliveries past normal peak 25% Total (GR Weight) 8% ~20% 8% Regional/Bus/GA 20% ~15% CF34-10 Engine Nacelles and tail cone on OE (Weighted) EMBRAER 190 support continued growth through the cycle 36% Aftermarket 16% ~8 - 11% Airbus AM growing faster due to fleet aging, (Commercial/ excellent product positions plus outsourcing trend Regional/Bus/GA) support higher than market growth rate 25% Defense and Space 7% ~9 - 11% OE - Positions on funded platforms worldwide, new OE and Aftermarket products provide stable growth Aftermarket - Platform utilization, upgrade opportunities support long-term growth 6% Other 14% ~12% 100% Total 12% ~13 - 14% 16
Aerospace and Defense Themes Commercial Aircraft Original Equipment Production Record levels of new orders for commercial airplanes in 2007 Expect more orders than deliveries in 2008 – book-to-bill greater than 1 Manufacturers continue to raise production rates Strong orders for new models entering production, especially Boeing’s 787 Dreamliner and Airbus A350 XWB Deliveries expected to increase through 2011 with slight drop in 2012 Continued strong demand for larger regional jets Commercial Aircraft Aftermarket Products and Services Worldwide growth in available seat miles supports demand for replacement parts and repair and overhaul services – Expect 4 – 5 percent base volume growth over the long-term – Consistent and predictable over the cycle Aging aircraft fleet drives additional growth for many popular models of aircraft Defense and Space Products and Services Strong demand for products supporting platforms – Original equipment and aftermarket – Good positions on newly funded platforms (e.g. Black Hawk helicopters, F-35) New opportunities for mission equipment and intelligence, surveillance and reconnaissance (ISR) products 17
Goodrich Content on Forecast In-Service Fleet 25,000 Total Growth A/C with lower GR aftermarket Rate 2008 – 2015 A/C with higher GR aftermarket 4% 20,000 15,000 Growth Rate 10,000 2008 – 2015 8% 5,000 0 2000 2002 2004 2006 2008 2010 2012 2014 Goodrich has higher aftermarket content on airplanes least likely to be retired, expected to help continue above market growth rate for aftermarket sales 18 Source: Airline Monitor
2008 Outlook P&L Summary ($M) Actual Estimate 2007 2008 B/(W) Sales $6.4B $7.2-$7.3B ~13 - 14% EPS (Diluted) - Continuing Operations $3.88 $4.27-$4.42 +10-14% - Reported $3.78 $4.30-$4.45 +14-18% Net cash provided by operating activities, minus capital expenditures, as a percent of net 64% >75% N/A income Capital Expenditures $283 $275 - $325 $8 – ($42) Effective Tax Rate 31% 33 – 35% +2 - 4% Strong Sales and EPS growth and improved cash flow 19

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goodrich 1Q08slides

  • 1. Goodrich Corporation First Quarter 2008 Results April 24, 2008
  • 2. Forward Looking Statements Certain statements made in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's future plans, objectives and expected performance. The Company cautions readers that any such forward- looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks, and actual results may differ materially. Important factors that could cause actual results to differ include, but are not limited to: demand for and market acceptance of new and existing products, such as the Airbus A350 XWB and A380, the Boeing 787 Dreamliner, the Embraer 190, the Dassault Falcon 7X, and the Lockheed Martin F- 35 Lightning II and F-22 Raptor; the health of the commercial aerospace industry, including the impact of bankruptcies and/or mergers in the airline industry; global demand for aircraft spare parts and aftermarket services; and other factors discussed in the Company's filings with the Securities and Exchange Commission and in the Company's April 24, 2008 First Quarter 2008 Results press release. The Company cautions you not to place undue reliance on the forward-looking statements contained in this presentation, which speak only as of the date on which such statements were made. The Company undertakes no obligation to release publicly any revisions to these forward- looking statements to reflect events or circumstances after the date on which such statements were made or to reflect the occurrence of unanticipated events. 2
  • 4. First Quarter 2008 Highlights Completed acquisition of TEAC Aerospace Holdings, a leading provider of airborne mission data Announced contracts to supply several advanced systems for use on the new Gulfstream G650 large business jet Increased share repurchase program to $600 million, primarily to minimize dilution from share-based compensation plans First quarter 2008 results, compared with first quarter 2007 Sales grew 13% - above market growth rates in all major market channels Segment OI margin increased from 14.9% to 17.3% Net income per diluted share of $1.24 – a 59% increase over first quarter 2007 – Includes income of $0.03 per diluted share from discontinued operations 4
  • 5. 2008 Outlook Full Year 2008 Outlook Increased outlook for sales and net income per diluted share – Sales outlook increased to $7.2 - $7.3 billion, from prior outlook of $7.1 - $7.2 billion Approximately 13 - 14% growth over 2007 results – Outlook for net income per diluted share increased to $4.30 - $4.45, from prior outlook of $4.15 - $4.30 Approximately 14 - 18% growth over 2007 results Includes expected effective tax rate of 33 – 35%, and assumes reinstatement of R&D tax credit – Net cash provided by operating activities, minus capital expenditures, expected to be greater than 75% of net income Capital expenditure outlook raised to $275 - $325 million, primarily due to: Purchase rather than lease equipment, Increased spending for low cost country manufacturing and MRO facilities, Acceleration of U.S. capital spending to take advantage of bonus depreciation as part of U.S. Government stimulus plan 5
  • 6. Delivering Sustained Sales Growth and Margin Expansion Sales $M Segment Operating Income Margins (Trailing Four Qtrs.) (Trailing Four Qtrs.) 7,000 18.0% 6,500 16.0% 14.0% 6,000 12.0% 5,500 10.0% 5,000 8.0% 4,500 6.0% 4,000 4.0% 3,500 2.0% 0.0% 3,000 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q4 Q2 Q4 Q2 Q4 Q2 Q4 2004 2005 2005 2006 2006 2007 2007 2004 2005 2005 2006 2006 2007 2007 6
  • 8. First Quarter 2008 – Financial Summary Year-over-Year Performance 1st Qtr 1st Qtr (Dollars in Millions, excluding EPS) 2008 2007 Change Sales $1,745 $1,546 13% Segment operating income $302 $230 31% - % of Sales 17.3% 14.9% +2.4% Income - Continuing Operations $154 $ 99 55% - Net Income $158 $100 58% Diluted EPS - Continuing Operations $1.21 $0.78 55% - Net Income $1.24 $0.78 59% 8
  • 9. First Quarter 2008 Year-over-Year Financial Change Analysis (Dollars in Millions) Net Income After-tax Net Item Sales per Diluted Income Share First Quarter 2007 – Net Income $1,546 $99 $0.78 Increased overall volume, efficiency, mix, other $185 $44 $0.33 Contract accounting cumulative catch-up adjustments $12 $0.10 Foreign exchange translation costs $14 ($8) ($0.06) Share-based compensation $5 $0.04 Corporate G&A and Other Income (Expense) $4 $0.03 Discontinued Operations $2 $0.02 First Quarter 2008 – Net Income $1,745 $158 $1.24 9
  • 10. First Quarter 2008 Year-over-Year Segment Results 1st Quarter 1st Quarter Change 2008 2007 Dollars in Millions $ % Sales Actuation and Landing Systems $682 $567 $115 20% Nacelles and Interior Systems $621 $547 $74 13% Electronic Systems $442 $432 $10 2% Total Sales $1,745 $1,546 $199 13% Segment OI Actuation and Landing Systems $74 $49 $25 50% Nacelles and Interior Systems $179 $126 $53 42% Electronic Systems $49 $55 ($6) (10%) Total Segment OI $302 $230 $72 31% Segment Margin Actuation and Landing Systems 10.9% 8.7% N/A +2.2% Nacelles and Interior Systems 28.8% 23.0% N/A +5.8% Electronic Systems 11.1% 12.6% N/A (1.5%) Overall Segment Margin 17.3% 14.9% N/A +2.4% 10
  • 11. Summary Cash Flow Information Item 1st Quarter 1st Quarter (Dollars in Millions) 2008 2007 Income from Continuing Operations $154 $99 Depreciation and Amortization $64 $60 Working Capital – (increase)/decrease – defined ($73) ($100) as the sum of A/R, Inventory and A/P Deferred income taxes and taxes payable $98 $42 Accrued expenses, other (including pension contributions) ($92) $27 Cash Flow from Operations $151 $128 Pension Contributions - worldwide ($9) ($11) Capital Expenditures ($54) ($36) 11
  • 12. Sales by Market Channel 12
  • 13. First Quarter 2008 Sales by Market Channel Total Sales $1.745 Billion Total Commercial OE Other Total Defense and 6% 34% Space Boeing 24% Commercial OE 10% Defense & Airbus Space, OE & Commercial OE Aftermarket 16% 24% OE AM Regional, Business & Gen. Av. OE 8% Large Commercial Aircraft Aftermarket 29% Regional, Business & General Aviation Aftermarket 7% Total Commercial Aftermarket 36% Balanced business mix; aftermarket represents 45% of total sales 13
  • 14. Sales by Market Channel First Quarter 2008 Change Analysis Actual Goodrich Change Comparisons 1Q 2008 vs. 1Q 2008 vs. 1Q 2007 4Q 2007 Boeing and Airbus – Aircraft Deliveries 13% 6% OE Production Regional, Business & General Aircraft Deliveries 23% 7% Aviation - OE Aftermarket – Large ASMs, Age, Cycles, Commercial, Regional, 10% 11% Fleet size Business and GA Defense and Space – US, UK Defense 13% (5%) OE and Aftermarket Budgets Other IGT, Other 23% 1% Goodrich Total Sales 13% 5% 14
  • 16. 2008 Sales Expectations By Market Channel Full Year 2007 2008 2007 Goodrich Goodrich Market Market expectations - 2009 and beyond Actual Expected Sales Mix Growth Growth 10% Boeing OE Del. Growth continues for 737, 777, A320; 15% Airbus OE Del. A380, 787 and A350 introductions support deliveries past normal peak 25% Total (GR Weight) 8% ~20% 8% Regional/Bus/GA 20% ~15% CF34-10 Engine Nacelles and tail cone on OE (Weighted) EMBRAER 190 support continued growth through the cycle 36% Aftermarket 16% ~8 - 11% Airbus AM growing faster due to fleet aging, (Commercial/ excellent product positions plus outsourcing trend Regional/Bus/GA) support higher than market growth rate 25% Defense and Space 7% ~9 - 11% OE - Positions on funded platforms worldwide, new OE and Aftermarket products provide stable growth Aftermarket - Platform utilization, upgrade opportunities support long-term growth 6% Other 14% ~12% 100% Total 12% ~13 - 14% 16
  • 17. Aerospace and Defense Themes Commercial Aircraft Original Equipment Production Record levels of new orders for commercial airplanes in 2007 Expect more orders than deliveries in 2008 – book-to-bill greater than 1 Manufacturers continue to raise production rates Strong orders for new models entering production, especially Boeing’s 787 Dreamliner and Airbus A350 XWB Deliveries expected to increase through 2011 with slight drop in 2012 Continued strong demand for larger regional jets Commercial Aircraft Aftermarket Products and Services Worldwide growth in available seat miles supports demand for replacement parts and repair and overhaul services – Expect 4 – 5 percent base volume growth over the long-term – Consistent and predictable over the cycle Aging aircraft fleet drives additional growth for many popular models of aircraft Defense and Space Products and Services Strong demand for products supporting platforms – Original equipment and aftermarket – Good positions on newly funded platforms (e.g. Black Hawk helicopters, F-35) New opportunities for mission equipment and intelligence, surveillance and reconnaissance (ISR) products 17
  • 18. Goodrich Content on Forecast In-Service Fleet 25,000 Total Growth A/C with lower GR aftermarket Rate 2008 – 2015 A/C with higher GR aftermarket 4% 20,000 15,000 Growth Rate 10,000 2008 – 2015 8% 5,000 0 2000 2002 2004 2006 2008 2010 2012 2014 Goodrich has higher aftermarket content on airplanes least likely to be retired, expected to help continue above market growth rate for aftermarket sales 18 Source: Airline Monitor
  • 19. 2008 Outlook P&L Summary ($M) Actual Estimate 2007 2008 B/(W) Sales $6.4B $7.2-$7.3B ~13 - 14% EPS (Diluted) - Continuing Operations $3.88 $4.27-$4.42 +10-14% - Reported $3.78 $4.30-$4.45 +14-18% Net cash provided by operating activities, minus capital expenditures, as a percent of net 64% >75% N/A income Capital Expenditures $283 $275 - $325 $8 – ($42) Effective Tax Rate 31% 33 – 35% +2 - 4% Strong Sales and EPS growth and improved cash flow 19