Oshkosh Corporation (holding Company) · NYSE:OSK

Oshkosh Corporation (holding Company) — Q1 2023 Earnings Presentation

17 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Apr 27, 2023

  1. Slide 1: Oshkosh Corporation First Quarter Fiscal 2023

    Oshkosh Corporation First Quarter Fiscal 2023 April 27, 2023 JOHN PFEIFER - PRESIDENT AND CHIEF EXECUTIVE OFFICER MIKE PACK – EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER PATRICK DAVIDSON – SENIOR VICE PRESIDENT, INVESTOR RELATIONS

  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: Q1 highlights

    Q1 highlights Q1 Performance  Strong adj. EPS* of $1.59  Updating 2023 adjusted EPS* $2.3 expectations to be in $6.00 range $1.9  Robust demand supported by solid 16.6% $1.59 orders, leading to record backlog of $14.8B  Continuing to invest in capacity +489% and NPD to drive growth $0.27  Compl

  4. Slide 4: Access

    Access Compact Crawler Boom  Better than expected volume and operating income resulted from improvements made in the supply chain  Sales growth in all regions  Strong indicators of demand  Aged customer fleets  New use cases  Continued strong utilization rates  Mega projects  Orders of $1.2B

  5. Slide 5: Defense

    Defense FMTV-A2  Revenues in line with customer requirements, lower margin due to material cost inflation forecasts  Filed protest on JLTV II decision in March  Areas of concern around evaluation and significant risk for customer  Expect GAO decision in mid-June  Expect OMFV down-select decisio

  6. Slide 6: Vocational

    Vocational Fully integrated, zero-emission electric RCV  Strong benefits expected with new segment  Enhance operating efficiencies  Leverage technology at scale  Serve as growth platform – organic / inorganic  Expect annualized cost synergies of $15M; some benefits late in 2023 with full run ra

  7. Slide 7: Consolidated results

    Consolidated results Dollars in millions, except per share amounts Three months ended March 31 2023 2022 Q1 comments Net Sales $ 2,268.1 $ 1,945.7  Sales impacted by: % Change 16.6% 3.0% + Increased Access volume + Improved pricing Adjusted operating income $ 147.8* $ 31.8 % Change 364.8% (78.5)% 

  8. Slide 8: 2023 Outlook

    2023 Outlook Expectations in the range of: • Revenues of ~$8.65 billion • Adjusted operating income of ~$570 million* Segment information • Adjusted EPS of ~$6.00* Measure Access Defense Vocational Additional expectations  Corporate expenses of ~$180 million  Tax rate of ~25% Sales ~$4.4 ~$2.1 ~$2

  9. Slide 9: Contacts

    Contacts: Striker® Volterra™ ARFF Vehicle 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 First Quarter 2023 Earnings Call April 27, 2023 9

  10. Slide 10: Appendix: Access

    Appendix: Access Q1 comments Dollars in millions Three months ended March 31 2023 2022  Sales impacted by: + Higher volume in all regions Net Sales $ 1,193.2 $ 883.1 + Improved pricing % Change 35.1% 19.6%  Operating income impacted by: Operating income $ 135.0 $ 5.7 + Favorable price/cost dynamic

  11. Slide 11: Appendix: Defense

    Appendix: Defense Q1 comments Dollars in millions  Sales impacted by: Three months ended March 31 2023 2022 - Lower JLTV volume Net Sales $ 513.1 $ 535.6 + Higher FMTV volume % Change (4.2)% (12.9)%  Adjusted operating income* Adjusted operating Income $ 2.5* $ 19.4 impacted by: % Change (87.1)% (

  12. Slide 12: Appendix: Vocational

    Appendix: Vocational Q1 comments Dollars in millions  Sales impacted by: Three months ended March 31 2023 2022 + Higher prices Net Sales $ 562.7 $ 529.3 % Change 6.3% (2.4)%  Adjusted operating income* impacted by: Adjusted operating income $ 43.7* $ 41.0 + Improved price/cost dynamics % Change 6.

  13. Slide 13: Appendix: GAAP to Non-GAAP reconciliation

    Appendix: GAAP to Non-GAAP reconciliation The tables below present a reconciliation of the Company’s presented GAAP measures to the most directly comparable non-GAAP measures (unaudited): Three months ended March 31, 2023 2022* Earnings per share-diluted (GAAP) $ 1.34 $ - Restructuring costs, net of

  14. Slide 14: Appendix: GAAP to Non-GAAP reconciliation

    Appendix: GAAP to Non-GAAP reconciliation The tables below present a reconciliation of the Company’s presented GAAP measures to the most directly comparable non-GAAP measures (in millions, unaudited): Three months ended March 31, 2023 2022 Defense segment operating income (GAAP) $ 1.7 $ 19.4 Restruc

  15. Slide 15: Appendix: GAAP to Non-GAAP reconciliation

    Appendix: GAAP to Non-GAAP reconciliation The tables below present a reconciliation of the Company’s presented GAAP measures to the most directly comparable non-GAAP measures (in millions, except per share amounts): 2023 expectations Consolidated operating income (GAAP) $ 553.0 Restructuring costs 3

  16. Slide 16: Appendix: GAAP to Non-GAAP reconciliation

    Appendix: GAAP to Non-GAAP reconciliation The tables below present a reconciliation of the Company’s presented GAAP measures to the most directly comparable non-GAAP measures 2023 expectations Vocational segment operating income margin (GAAP) 7.3% Restructuring costs 0.1% Loss on sale of a business

  17. Slide 17: Appendix: Commonly used acronyms

    Appendix: Commonly used acronyms ARFF Aircraft Rescue and Firefighting IRC Independent Rental Company AWP Aerial Work Platform JLTV Joint Light Tactical Vehicle AMPS Aftermarket Parts & Service JPO Joint Program Office APAC Asia Pacific JUONS Joint Urgent Operational Needs Statement ASC Accounting S

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