Oshkosh Corporation (Holding Company) · NYSE:OSK
Oshkosh Corporation (Holding Company) — Q4 2018 Earnings Presentation
18 slides from Oshkosh Corporation (Holding Company)'s earnings presentation, Nov 1, 2018
Slide 1: Fourth Quarter Fiscal 2018
MOVING THE WORLD AT WORK Wilson R. Jones President and Chief Executive Officer Oshkosh Corporation David M. Sagehorn (NYSE:OSK) Executive Vice President and Chief Financial Officer Fourth Quarter Fiscal 2018 Patrick N. Davidson Senior Vice President, Investor Relations November 1, 2018
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: Strong FY18 Q4 Performance
Strong FY18 Q4 Performance OSK Fiscal Q4 Performance Yr/Yr growth in Q4 - Net sales, adjusted operating income* and Net Sales Adjusted EPS* adjusted EPS* (billions) $2.00 − Double digit percentage sales $1.80 $2.4 $1.80 growth in access equipment $2.2 $2.06 $2.0 $1.96 $1.60 $1.38 segment $1.8 $1.4
Slide 4: Double Digit Growth in FY18
Double Digit Growth in FY18 Sales growth in each segment, OSK Full Year Performance leading to 31% adj. operating income growth Net Sales Adjusted EPS* (billions) FY18 adjusted operating $9.0 $7.00 $6.36 income* margin >10% in three $8.0 $7.7 $6.50 $6.00 $6.8 segments $7.0 $5.50 $5.00 Strong F
Slide 5: Access Equipment
Access Equipment Strong Q4 demand for North American rental equipment − Customer metrics − Construction activity JLG grew sales in all global regions in FY18 Improved operational performance as the year progressed Supply chain disruptions remain a focus area Working with customers on calen
Slide 6: Defense
Defense Continuing to execute JLTV program ramp − Remain on target for Q1 FY19 DoD’s Full Rate Production decision Continuing to cultivate international business − Multiple international demonstrations in Q4 − Significant customer activity at AUSA and Modern Day Marine Operational excellence r
Slide 7: Fire & Emergency
Fire & Emergency Strong finish to another strong year Pierce reinforced its leading position as the preeminent fire truck brand New products driving demand Simplification activities continue to mature throughout the business Fire truck markets in U.S. and Canada remain stable − Steady to s
Slide 8: Commercial
Commercial Strong focus drove improvement in full year operating income margin Simplification activities taking hold and positively impacting business − Implementing with rigor and discipline − Business unit teams driving accountability RCV market continues to be strong Concrete mixer market
Slide 9: Consolidated Results
Consolidated Results (Dollars in millions, except per share amounts) Fourth Quarter Q4 Comments 2018 2017 Sales impacted by: Net Sales $2,057.0 $1,963.0 + Higher access equipment % Change 4.8% 11.8% segment sales − Lower defense segment sales Adjusted Operating Income* $180.1 $150.0 Adjusted EPS
Slide 10: Oshkosh FY19 Expectations – ASC 606 Basis
Oshkosh FY19 Expectations – ASC 606 Basis Revenues of $7.85 to $8.15 billion Operating income of $640 to $710 million EPS of $6.50 to $7.25 Segment information Measure Access Defense Fire & Commercial Equipment Emergency Sales $3.6 - $3.9 ~ $2.0 ~ $1.2 ~ $1.05 (billions) Operating Income 10.0%
Slide 11: For information contact:
Patrick N. Davidson Jeffrey D. Watt For information Senior Vice President, Director, Investor Relations contact: Investor Relations (920) 233-9406 (920) 966-5939 jwatt@oshkoshcorp.com pdavidson@oshkoshcorp.com OSK Fourth Quarter 2018 Earnings Call November 1, 2018 11
Slide 12: Appendix: Access Equipment
Appendix: Access Equipment (Dollars in millions) Fourth Quarter Q4 Comments 2018 2017 Sales impacted by: + Higher aerial work platform and Net Sales $1,060.6 $833.8 telehandler volume % Change 27.2% 7.5% + Improved pricing Adjusted operating income* Adjusted Operating impacted by: Income* $128.3
Slide 13: Appendix: Defense
Appendix: Defense (Dollars in millions) Fourth Quarter Q4 Comments 2018 2017 Sales impacted by: − M-ATV international sales Net Sales $464.6 $596.8 + Ramp up of JLTV program % Change (22.2)% 26.5% + Higher aftermarket parts sales Adjusted operating income* Adjusted Operating impacted by: Income*
Slide 14: Appendix: Fire & Emergency
Appendix: Fire & Emergency (Dollars in millions) Fourth Quarter Q4 Comments 2018 2017 Sales impacted by: + Improved pricing Net Sales $283.7 $278.0 Operating income impacted by: % Change 2.1% 8.2% + Improved pricing + Favorable extended warranty Operating Income $39.7 $34.6 performance % Change
Slide 15: Appendix: Commercial
Appendix: Commercial (Dollars in millions) Fourth Quarter Q4 Comments 2018 2017 Sales impacted by: − Lower package sales Net Sales $254.2 $259.9 + Higher concrete mixer volume % Change (2.2)% 2.2% Adjusted operating income* impacted by: Adjusted Operating + Improved mix Income* $14.1* $11.6 + Lo
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 Fiscal Year Ended September 30, September 30, 2018 2017 2018 20
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): Fiscal Year Ended September 30, 2018 Net cash flows provided by operating activities $ 436.3 Additions to pr
Slide 18: Appendix: Commonly Used Acronyms
Appendix: Commonly Used Acronyms ARFF Aircraft Rescue and Firefighting M-ATV MRAP All-Terrain Vehicle AWP Aerial Work Platform MRAP Mine Resistant Ambush Protected AMPS Aftermarket Parts & Service MSVS Medium Support Vehicle System (Canada) CapEx Capital Expenditures NDAA National Defense Authorizat