Oshkosh Corporation (holding Company) · NYSE:OSK
Oshkosh Corporation (holding Company) — Q4 2011 Earnings Presentation
14 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Nov 1, 2011
Slide 1: Oshkosh Corporation Fourth Quarter Fiscal 2011
Oshkosh Corporation Fourth Quarter Fiscal 2011 November 1, 2011 MISSION DRIVEN: To Move the World at Work Charles L. Szews President and Chief Executive Officer David M. Sagehorn Executive Vice President and Chief Financial Officer Patrick N. Davidson Vice President, Investor Relations
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements
Slide 3: Oshkosh Q4 FY11 Results
Oshkosh Q4 FY11 Results Sales of $2.1 billion and adjusted EPS of $0.48 OSK Fiscal Q4 Performance Access equipment replacement demand remains strong $2,500 $4.00 $2,105 $2,115 $3.50 FMTV on path to profitability $2,000 $3.00 (millions) Net Sales $1,472 – Eleven teams focused on $1,500 $2.50 EPS* cos
Slide 4: Market Conditions
Market Conditions Access equipment replacement demand continues to drive higher sales – Telehandler orders benefiting from emissions standards changes Outlook for U.S. defense spending remains challenged – Oshkosh competing for new programs U.S. municipal spending remains weak – International fire &
Slide 5: Operations Update
Operations Update Defense segment – 5-year contract with Oshkosh Defense union employees – FMTV production continues to increase – FHTV tire shortage expected to impact fiscal 2012 results – New segment president, John Urias Access equipment segment – Working through supply chain challenges – Materi
Slide 6: Consolidated Results
Consolidated Results (Dollars in millions, except per share amounts) Fourth Quarter Comments 2011 2010 Sales impacted by: Net Sales $2,115.4 $2,105.1 + FMTV volume + Traditional access % Change 0.5% 43.0% equipment demand – Lower M-ATV related and Operating Income $81.7 $242.7 TAK-4® volume – Lower
Slide 7: Expectations for FY12
Expectations for FY12* Measure Defense Access Fire & Commercial Equipment Emergency Sales ~15% lower ~20% higher ~ Flat Up slightly Operating Less Mid to high Low single Similar Income than 5% single digits digits to FY11 Margin Tire supply constraint shifts FHTV volume into FY13 Flat to slightly hi
Slide 8: For information contact
MISSION DRIVEN: To Move the World at Work For information contact: Patrick N. Davidson Vice President, Investor Relations 920 966-5939 pdavidson@oshkoshcorp.com Tina Schmiedel Director, Investor Relations 920 233-9235 tschmiedel@oshkoshcorp.com
Slide 9: Appendix: Defense
Appendix: Defense (Dollars in millions) Fourth Quarter Comments 2011 2010 Sales impacted by: Net Sales $1,172.2 $1,331.1 Significantly lower M-ATV % Change (11.9)% 55.6% volume Lower TAK-4 ® independent suspension sales Operating Income $74.1* $224.1 FMTV production ramp-up % Margin 6.3% 16.8%
Slide 10: Appendix: Access Equipment
Appendix: Access Equipment (Dollars in millions) Fourth Quarter* Comments 2011 2010 Sales impacted by: Mature market replacement Net Sales $673.5 $536.8 demand % Change 25.5% 62.1% Prior year M-ATV intersegment sales Operating Income $34.8 $10.4** Margins impacted by: % Margin 5.2% 1.9% Favora
Slide 11: Appendix: Fire & Emergency
Appendix: Fire & Emergency (Dollars in millions) Fourth Quarter Comments 2011 2010 Sales impacted by: Lower municipal Net Sales $205.6 $254.7 spending activity % Change (19.3)% (5.6)% Margins impacted by: Lower volume / absorption Operating Income $(3.8)* $25.7* Production inefficiencies and %
Slide 12: Appendix: Commercial
Appendix: Commercial (Dollars in millions) Fourth Quarter Comments 2011 2010 Sales impacted by: – Lower RCV volume Net Sales $135.2 $162.8 % Change (16.9)% 24.8% Margins impacted by: Lower volume / absorption Operating Income $2.6 $10.2* Lower LIFO benefit % Margin 1.9% 6.3% Backlog up 139% vs.
Slide 13: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures The table below presents a reconciliation of the Company’s presented non-GAAP measures to the most directly comparable GAAP measures (in millions, except per share amounts): Three Months Ended Three Months Ended September 30, September 30, 2011 2010 2011 2010 De
Slide 14: Appendix: Commonly Used Acronyms
Appendix: Commonly Used Acronyms ARFF Aircraft Rescue and Firefighting MECV Modernized Expanded Capability Vehicle AWP Aerial Work Platform MRAP Mine Resistant Ambush Protected CNG Compressed Natural Gas MSVS Medium Support Vehicle System (Canada) DoD Department of Defense MTT Medium Tactical Truck