Oshkosh Corporation (holding Company) · NYSE:OSK
Oshkosh Corporation (holding Company) — Q4 2021 Earnings Presentation
19 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Oct 28, 2021
Slide 1: Oshkosh Corporation Fourth Quarter Fiscal 2021
Oshkosh Corporation Fourth Quarter Fiscal 2021 October 28, 2021 JOHN PFEIFER - PRESIDENT AND CHIEF EXECUTIVE OFFICER MIKE PACK – EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER PATRICK DAVIDSON – SENIOR 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: Reporting Q4 results
Reporting Q4 results OSK Q4 Performance Q4 adj. EPS* of $1.05 Demand outlook remains strong $2.1 across all segments $1.8 +15.6% Significant supply chain $1.30 disruptions and higher input $1.05 costs impacted results (19.2)% Disciplined capital allocation $95M in share purchases FY20 FY21
Slide 4: FY21 Highlighted by Strong Demand, Strategic Investments and New Product Launches
FY21 Highlighted by Strong Demand, Strategic Investments and New Product Launches OSK FY21 Performance Record full year free cash flow $7.7 Positive long-term outlook $6.9 12.8% Innovative products, Defense $5.75 programs & market drivers $4.94 16.4% Launched new EV products Made several s
Slide 5: Access Equipment
Access Equipment JLG AG925 Agricultural Telehandler Double digit revenue growth in Q4 and FY21 Supply chain challenges meaningfully impacted production Lower sales Labor inefficiencies Implemented multiple price increases to offset significant cost escalation Record quarterly orders and
Slide 6: Defense
Defense JLTV with Weapons System Strong execution despite supply chain challenges JLTV program provides strong foundation Continue to demonstrate product versatility for new applications Preparing for next year’s recompete Competing for numerous adjacent opportunities Benefiting from Pra
Slide 7: Fire & Emergency
Fire & Emergency Boise Mobile Equipment Wildland Fire Truck Delivered record highs for operating income and margin in FY21 Demand is strong, but supply chain will likely constrain deliveries in the near-term Record orders in FY21 Planning to expand mfg. capacity in Appleton for Pierce custom
Slide 8: Commercial
Commercial McNeilus ZRTM Automated Side Loader RCV Best full year adj. operating income margin in more than 15 years Steel costs contributing to high price/cost drag Demand remains strong but supply chain limiting ability to build & deliver units Chassis availability has become more constrai
Slide 9: Consolidated results
Consolidated results Dollars in millions, except per share amounts Fourth Quarter 2021 2020 Q4 comments Net Sales $ 2,063.0 $ 1,784.2 Sales impacted by: % Change 15.6% (18.7)% + Higher sales in Access Equipment, Defense and F&E segments Adjusted operating income $ 104.2 $ 124.1* % Change (16.0)% (
Slide 10: Comments on Stub Period (October – December 31, 2021) and 2022
Comments on Stub Period (October 1 – December 31, 2021) and 2022 JLG 670SJ Self-Leveling Boom Lift Demand is strong, but supply chain disruption constraining production Limiting our ability to provide quantitative expectations Expect challenges to remain well into 2022 Expected impacts durin
Slide 11: Contacts
Contacts: Pratt Miller U.S. Army Robotic Combat Vehicle-Light Patrick N. Davidson Senior Vice President, Investor Relations pdavidson@oshkoshcorp.com 920-502-3266 Victoria Connelly Senior Manager, Investor Relations vconnelly@oshkoshcorp.com 920-502-3108 Fourth Quarter 2021 Earnings Call October 28,
Slide 12: Appendix: Access Equipment
Appendix: Access Equipment Q4 comments Dollars in millions Fourth Quarter 2021 2020 Sales impacted by: + Strong return of demand led by Net Sales $ 845.9 $ 616.2 North America % Change 37.3% (39.4)% Adjusted operating income* Adjusted operating income $ 30.7 $ 32.8* impacted by: % Change (6.4)%
Slide 13: Appendix: Defense
Appendix: Defense Q4 comments Dollars in millions Sales impacted by: Fourth Quarter 2021 2020 + Higher JLTV volume Net Sales $ 650.2 $ 618.9 + Inclusion of Pratt Miller results % Change 5.1% 3.7% - Lower FMTV volume Adjusted operating Income $ 49.7 $ 55.1* - Lower international sales % Change (9.8
Slide 14: Appendix: Fire & Emergency
Appendix: Fire & Emergency Q4 comments Dollars in millions Sales impacted by: Fourth Quarter 2021 2020 + Higher ARFF deliveries Net Sales $ 337.7 $ 308.2 % Change 9.6% (4.7)% Adjusted operating income* impacted by: Adjusted operating income $ 47.2 $ 50.7* - Unfavorable material costs % Change (6
Slide 15: Appendix: Commercial
Appendix: Commercial Q4 comments Dollars in millions Sales impacted by: Fourth Quarter 2021 2020 - Lower package sales Net Sales $ 233.8 $ 249.2 Adjusted operating income* % Change (6.2)% (6.3)% impacted by: Adjusted operating income $ 10.7 $ 20.2* - Unfavorable material costs % Change (47.0)% 7
Slide 16: Appendix: GAAP to Non-GAAP reconciliation
Appendix: GAAP to Non-GAAP reconciliation The table below presents a reconciliation of the Company’s presented GAAP measures to the most directly comparable non-GAAP measures (in millions, except per share amounts): Three months ended September 30 Twelve months ended September 30 2021 2020 2021 2020
Slide 17: Appendix: GAAP to Non-GAAP reconciliation
Appendix: GAAP to Non-GAAP reconciliation The table below presents a reconciliation of the Company’s presented GAAP measures to the most directly comparable non-GAAP measures (in millions): Three months ended September 30 Change from 2021 2020 2020 to 2021 • Consolidated operating income (GAAP) $ 10
Slide 18: Appendix: GAAP to Non-GAAP reconciliation
Appendix: GAAP to Non-GAAP reconciliation The table below presents a reconciliation of the Company’s presented GAAP measures to the most directly comparable non-GAAP measures (in millions): Three months ended September 30 2021 2020 • Access Equipment segment operating income (GAAP) $ 30.7 $ 25.3 • R
Slide 19: Appendix: Commonly used acronyms
Appendix: Commonly used acronyms ARFF Aircraft Rescue and Firefighting JLTV Joint Light Tactical Vehicle AWP Aerial Work Platform JPO Joint Program Office AMPS Aftermarket Parts & Service JUONS Joint Urgent Operational Needs Statement APAC Asia Pacific LRIP Low Rate Initial Production ASC Accounting