Oshkosh Corporation (Holding Company) · NYSE:OSK
Oshkosh Corporation (Holding Company) — Q3 2013 Earnings Presentation
16 slides from Oshkosh Corporation (Holding Company)'s earnings presentation, Jul 30, 2013
Slide 1: Oshkosh Corporation Third Quarter Fiscal 2013
Oshkosh Corporation Third Quarter Fiscal 2013 July 30, 2013 Charles L. Szews Chief Executive Officer Wilson R. Jones President and Chief Operating 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: MOVE at Work in Q3
MOVE at Work in Q3* • Q3 EPS of $1.67 OSK Fiscal Q3 Performance – Nearly double Q3 FY12 $2,500 $2.00 – Access equipment and $2,204 $1.67 $2,160 $1.75 defense segments led the $2,000 $1.50 way Net Sales (millions) EPS $1,500 $1.25 • MOVE initiatives gaining $1.00 $0.84 momentum $1,000 $0.75 • Benefit
Slide 4: Defense
Defense • Strong operations execution; effectively managed Q3 downsizing • International M-ATV sales enhanced Q3 results • Continuing to pursue international business – Kingdom of Saudi Arabia follow-on order for M-ATVs • U.S. Marine Corps P-19R ARFF contract win – Tremendous teamwork across the com
Slide 5: Access Equipment
Access Equipment • Continued to benefit from replacement demand – Sales in North America up ~25% • Global conditions remained mixed – Growth in the Middle East, contrasting mixed European market – Latin American market continued to grow, near-term outlook tempered by recent demonstrations in Brazil
Slide 6: Fire & Emergency
Fire & Emergency • Continued evidence of municipal demand improving, but federal demand remained down • International focus yielding results – Asia – Middle East • Investing in MOVE initiatives with significant potential • Raising full year expectations 6 OSK Third Quarter 2013 Earnings Call July 30
Slide 7: Commercial
Commercial • Concrete placement products – Mixer deliveries and orders remained strong • Refuse collection vehicles – Timing of orders contributed to lower Q3 sales vs. prior year – Strong reception at Waste Expo for new lightweight front end loader • Continuing to invest in MOVE – Team pursuing mul
Slide 8: Consolidated Results
Consolidated Results* (Dollars in millions, except per share amounts) Third Quarter Comments 2013 2012 • Sales impacted by: Net Sales $2,204.4 $2,159.8 Higher access equipment % Change 2.1% 7.2% and commercial segment deliveries Lower volume in defense Operating Income $225.6 $126.2 and fire & e
Slide 9: Increasing Expectations for FY13
Increasing Expectations for FY13* • Revenue range of $7.6 billion to $7.7 billion • Adjusted operating income range of $515 million to $525 million • Adjusted EPS from continuing operations range of $3.60 to $3.70 Segment Information Access Fire & Measure Defense Commercial Equipment Emergency Sales
Slide 10: For information contact
For information contact: Patrick N. Davidson Vice President, Investor Relations (920) 966-5939 pdavidson@oshkoshcorp.com Jeff D. Watt Director, Investor Relations (920) 233-9406 jwatt@oshkoshcorp.com
Slide 11: Appendix: Access Equipment
Appendix: Access Equipment (Dollars in millions) Third Quarter Comments 2013 2012 • Sales impacted by: Higher volume in Net Sales $941.5 $814.6 North America Price realization % Change 15.6% 40.4% Higher aftermarket volume Lower volume in Australia • Margins impacted by: Operating Income $15
Slide 12: Appendix: Defense
Appendix: Defense (Dollars in millions) Third Quarter Comments 2013 2012 • Sales impacted by: Lower U.S. DoD volume Net Sales $879.6 $958.5 International truck % Change (8.2)% (13.4)% shipments • Margins impacted by: Operating Income $85.8 $40.2 Higher international sales mix % Change 113.8% (
Slide 13: Appendix: Fire & Emergency
Appendix: Fire & Emergency (Dollars in millions) Third Quarter* Comments 2013 2012 • Sales impacted by: Lower unit volumes Net Sales $204.3 $229.6 • Margins impacted by: % Change (11.0)% 10.1% Lower absorption Price realization Operating Income $6.5 $8.1 • Backlog* essentially flat % Change (1
Slide 14: Appendix: Commercial
Appendix: Commercial (Dollars in millions) Third Quarter Comments 2013 2012 • Sales impacted by: + Higher concrete mixer Net Sales $194.7 $176.2 sales % Change 10.5% 11.2% + Higher content units Lower RCV sales Operating Income $10.0 $12.1 • Margins impacted by: % Change (17.8)% 224.3% Restructu
Slide 15: Appendix: Commonly Used Acronyms
Appendix: Commonly Used Acronyms ARFF Aircraft Rescue and Firefighting M-ATV MRAP All-Terrain Vehicle AWP Aerial Work Platform MECV Modernized Expanded Capability Vehicle CapEx Capital Expenditures MRAP Mine Resistant Ambush Protected CNG Compressed Natural Gas MSVS Medium Support Vehicle System (Ca
Slide 16: Appendix: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation • 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): Fiscal 2013 Expectations Corporate Non-GAAP operating expenses $ (145.0) Tender of