Oshkosh Corporation (Holding Company) · NYSE:OSK
Oshkosh Corporation (Holding Company) — Q2 2013 Earnings Presentation
18 slides from Oshkosh Corporation (Holding Company)'s earnings presentation, Apr 30, 2013
Slide 1: Oshkosh Corporation Second Quarter Fiscal 2013
Oshkosh Corporation Second Quarter Fiscal 2013 April 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 includes 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: Strong Performance Continues in Fiscal 2013
Strong Performance Continues in Fiscal 2013* • $0.96 Q2 EPS OSK Fiscal Q2 Performance – More than double Q2FY12 $3,000 $1.50 • Operating income margins $2,500 $1.25 expanded in all segments $1,984 $2,062 Net Sales $2,000 $0.96 $1.00 (millions) EPS • Focused on disciplined $1,500 $0.75 execution of M
Slide 4: MOVE Strategy Continues to Guide Outlook Through 2015
MOVE Strategy Continues to Guide Outlook Through 2015 • Executing MOVE initiatives – Generally on schedule • Oshkosh Operating System provides framework and tools to execute strategy – Utilize strategy deployment to manage initiatives • Driving for global revenue growth • Pierce celebrating 100-year
Slide 5: Defense
Defense • Manufacturing efficiency improvements evident • International M-ATV sales enhanced Q2 results • Continuing to pursue international business development opportunities – Received initial M-ATV order from Kingdom of Saudi Arabia for FY14 delivery • Managing a 30% decline in daily production b
Slide 6: Access Equipment
Access Equipment • Team and processes focused on execution – Delivering margin improvement goals – Realizing previously announced price increases • Continuing to benefit from replacement demand – Primarily in North America – Independents returning to market • Global picture remains mixed – Slow grow
Slide 7: Fire & Emergency
Fire & Emergency • Signs of improving municipal demand, but federal demand still declining • Ambulance business exit completed • Investing in MOVE initiatives • ARFF team pursuing many international opportunities – 22-unit order for Japan • 100 years of Pierce Manufacturing 7 OSK Second Quarter 2013
Slide 8: Commercial
Commercial • Brad Nelson new segment president • Continuing to invest in MOVE • Concrete placement products – Mixer orders remained strong – Aftermarket parts and service business strengthened • Refuse collection vehicles – Order timing impacted Q2 results – CNG remains strong – New product introduc
Slide 9: Consolidated Results
Consolidated Results* (Dollars in millions, except per share amounts) Second Quarter Comments 2013 2012 • Sales impacted by: Net Sales $1,984.4 $2,062.3 ‒ Lower volume in defense % Change (3.8)% 18.9% Increases in all non- defense segments Operating Income $134.6 $84.1 • Margins impacted by: + Pri
Slide 10: Increasing Expectations for FY13
Increasing Expectations for FY13* • Revenues range of $7.35 billion to $7.65 billion • Adjusted operating income range of $430 million to $465 million • Adjusted EPS from continuing operations range of $2.90 to $3.15 Segment information Access Fire & Measure Defense Commercial Equipment Emergency Sa
Slide 11: Going Forward
Going Forward • Disciplined Execution • Tracking to MOVE Goals • Targeting FY15 EPS of $4.00 to $4.50 11 OSK Second Quarter 2013 Earnings Call April 30, 2013
Slide 12: 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 13: Appendix: Access Equipment
Appendix: Access Equipment (Dollars in millions) Second Quarter Comments 2013 2012 • Sales impacted by: Higher telehandler volume in Net Sales $817.4 $760.4 North America % Change 7.5% 61.4% Price realization Higher aftermarket volume - Lower volume in Australia Operating Income $95.0 $68.4 •
Slide 14: Appendix: Defense
Appendix: Defense (Dollars in millions) Second Quarter Comments 2013 2012 • Sales impacted by: Lower M-ATV aftermarket Net Sales $827.6 $987.3 and FMTV volume % Change (16.2)% 1.5% International M-ATV shipments • Margins impacted by: Operating Income $67.0* $41.9 Higher M-ATV mix % Change 59.7
Slide 15: Appendix: Fire & Emergency
Appendix: Fire & Emergency (Dollars in millions) Second Quarter* Comments 2013 2012 • Sales impacted by: + Product mix Net Sales $174.0 $168.5 + Price realization % Change 3.3% 1.8% - Lower unit volumes • Margins impacted by: Operating + Price realization Income (Loss) $2.7 $(3.0) + Lower operating
Slide 16: Appendix: Commercial
Appendix: Commercial (Dollars in millions) Second Quarter Comments 2013 2012 • Sales impacted by: + Higher concrete mixer Net Sales $185.5 $167.7 volume % Change 10.6% 10.6% + Aftermarket parts Lower RCV volume Operating Income $7.6 $3.9 • Margins impacted by: % Change 97.8% (27.7)% + Absorption f
Slide 17: 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 18: 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 Low High Corporate Non-GAAP operating expenses $ (140.0)