Oshkosh Corporation (holding Company) · NYSE:OSK

Oshkosh Corporation (holding Company) — Q1 2020 Earnings Presentation

16 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Jan 29, 2020

  1. Slide 1: Oshkosh Corporation First Quarter Fiscal 2020

    Oshkosh Corporation First Quarter Fiscal 2020 January 29, 2020 WILSON JONES – PRESIDENT AND CHIEF EXECUTIVE OFFICER JOHN PFEIFER - EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER DAVID SAGEHORN – EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER PATRICK DAVIDSON – SENIOR VICE PRESIDENT, INVE

  2. 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

  3. Slide 3: A solid start to FY20

    A solid start to FY20 OSK Q1 Performance (6.0%)  Q1 in line with company $1.80 $1.70 expectations $1.61  Customer order patterns consistent (31.7%) with the company’s expectations $1.10  Access equipment, defense and fire & emergency all with backlogs >$1 billion at quarter end  Stabilizing macr

  4. Slide 4: Defense

    Defense  JLTV production ramp up on track  Received U.S. DoD JLTV order for more than $800M, including early international units  Government testing continues on FMTV A2 units  FMTV A1P2 deliveries through FY21, then begin transition to FMTV A2  Pleased with recently signed FY20 Defense budget

  5. Slide 5: Access Equipment

    Access Equipment  Solid start to FY20 with strong OI and OI margins  As expected, lower sales in North America and EAME offset continued robust sales growth in Asia Pacific  Product adoption remains a strong market driver in key emerging markets  Expectations for access equipment market in EAME

  6. Slide 6: Fire & Emergency

    Fire & Emergency  Successfully overcame supplier delivery issue that led to operating inefficiencies and lower than expected sales in Q1  Impact contained to the first quarter  Strong order growth and record backlog in Q1 highlight industry leadership and position segment for continued success go

  7. Slide 7: Commercial

    Commercial  Simplification remains focus and is gaining traction  Front discharge S-series 2.0 production ramping up from pilot phase  Higher RCV orders  Lower concrete mixer orders, impacted by simplification approach and customer timing  Expect concrete mixer and RCV markets in FY20 to be sim

  8. Slide 8: Consolidated results

    Consolidated results Dollars in millions, except per share amounts First Quarter 2020 2019 Q1 comments Net Sales $ 1,695.1 $ 1,803.4  Sales impacted by: % Change (6.0)% 13.7% − Lower access equipment Operating Income $ 109.1 $ 160.5 segment sales % Change (32.0)% 72.4%  Adjusted EPS* impacted by:

  9. Slide 9: Updated Oshkosh FY20 expectations

    Updated Oshkosh FY20 expectations • Revenues of $7.9 - $8.2 billion Segment information • Operating income of $690 to $765 million • EPS of $7.30 to $8.10 Access Fire & Measure Defense Commercial Equipment Emergency Additional expectations  Corporate expenses of $150 - $155 million  Tax rate of ~2

  10. Slide 10: Contacts

    Contacts: Patrick N. Davidson Senior Vice President, Investor Relations pdavidson@oshkoshcorp.com 920-502-3266 Jeffrey D. Watt Director, Investor Relations jwatt@oshkoshcorp.com 920-502-3024 First Quarter 2020 Earnings Call January 29, 2020 10

  11. Slide 11: Appendix: Access Equipment

    Appendix: Access Equipment Dollars in millions First Quarter 2020 2019 Q1 comments Net Sales $ 717.9 $ 826.5  Sales impacted by: % Change (13.1)% 31.6% − Lower North America and EAME volume Operating Income $ 69.0 $ 66.4 + Higher APAC volume % Change 3.9% 122.8%  Operating income impacted by: % Ma

  12. Slide 12: Appendix: Defense

    Appendix: Defense Dollars in millions First Quarter 2020 2019 Q1 comments Net Sales $ 493.1 $ 464.1  Sales impacted by: % Change 6.2% (6.0)% + Continued ramp up of JLTV production Operating Income $ 30.9 $ 71.1 − Lower FHTV sales % Change (56.5)% 8.1%  Operating income impacted by: % Margin 6.3% 1

  13. Slide 13: Appendix: Fire & Emergency

    Appendix: Fire & Emergency Dollars in millions First Quarter 2020 2019 Q1 comments Net Sales $ 262.4 $ 295.5  Sales impacted by: % Change (11.2)% 29.0% − Prior year favorable sales timing Operating Income $ 31.0 $ 39.9  Operating income impacted by: % Change (22.3)% 57.7% − Lower sales volume % Ma

  14. Slide 14: Appendix: Commercial

    Appendix: Commercial Dollars in millions First Quarter 2020 2019 Q1 comments Net Sales $ 224.2 $ 222.2  Sales impacted by: + Higher package sales % Change 0.9% (8.0)% − Lower concrete mixer sales Operating Income $ 17.8 $ 18.7  Operating income impacted by: % Change (4.8)% 73.1% − Adverse product

  15. Slide 15: 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 December 31 2019 2018 • Earnings per share-diluted (GAAP) $ 1.10

  16. Slide 16: Commonly used acronyms

    Appendix: Commonly used acronyms ARFF Aircraft Rescue and Firefighting L-ATV Light Combat Tactical All-Terrain Vehicle AWP Aerial Work Platform LRIP Low Rate Initial Production AMPS Aftermarket Parts & Service LVSR Logistic Vehicle System Replacement APAC Asia Pacific M-ATV MRAP All-Terrain Vehicle

Oshkosh Corporation (Holding Company)Common Stock — Q1 2020 Earnings Presentation on 6ix