Oshkosh Corporation (holding Company) · NYSE:OSK

Oshkosh Corporation (holding Company) — Q1 2014 Earnings Presentation

17 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Jan 28, 2014

  1. Slide 1: First Quarter Fiscal 2014 Earnings

    MOVING THE WORLD AT WORK Oshkosh Corporation Charles L. Szews Chief Executive Officer Wilson R. Jones First Quarter Fiscal 2014 President and Chief Operating Officer January 28, 2014 David M. Sagehorn Executive Vice President and Chief Financial Officer Patrick N. Davidson Vice President, Investor R

  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 Strong Start to FY14

    A Strong Start to FY14  EPS of $0.63 exceeded expectations  Disciplined execution OSK Fiscal Q1 Performance  Favorable product mix $2.0 $1.00  Improved performance in all non- $1.8 $1.75 $1.6 $1.53 Adjusted EPS defense segments offset defense $0.75 Net Sales $1.4 $0.63 $0.62 earnings decline (bi

  4. Slide 4: Defense

    Defense  Q1 results exceeded expectations  Focused on execution in period of lower projected program volumes  International business development remains a priority  Introducing new M-ATV variants  New programs moving at uneven pace  Important trials occurring this Spring  Submitted proposal a

  5. Slide 5: Access Equipment

    Access Equipment  Strong results driven by several factors  Higher volume  Continued improved operational performance  Strong product mix impacted by Tier 4 timing  North American market remained strong  National rental company negotiations nearly complete; orders shifting to Q2 & Q3  Largely

  6. Slide 6: Fire & Emergency

    Fire & Emergency  Improved results with mixed domestic markets  Municipal fire truck demand improved  Expecting market to grow slowly in 2014  Federal market remained weak due to lower funding for equipment  Improvements in operations underway, driven by MOVE  Expect greater benefit in 2H 2014

  7. Slide 7: Commercial

    Commercial  U.S. housing starts growth trend continued  Supports positive concrete mixer market dynamics  U.S. refuse collection vehicle market expected to grow slightly in 2014  Remain focused on operational improvements to deliver higher margins  Expect greater benefit in 2H 2014 and througho

  8. Slide 8: Consolidated Results

    Consolidated Results (Dollars in millions, except per share amounts) First Quarter Comments 2014 2013*  Sales impacted by: Net Sales $1,530.2 $1,749.8 ‒ Significantly lower defense % Change (12.6)% (6.4)% volumes + Non-defense demand Adjusted  Margins impacted by: Operating Income $96.5 $96.6 + St

  9. Slide 9: Updated Expectations for FY14

    Updated Expectations for FY14 • Revenues of $6.65 billion to $6.85 billion • Operating income of $490 million to $520 million • EPS of $3.40 to $3.65 Segment information Access Fire & Measure Defense Commercial Equipment Emergency Sales $3.35-$3.40 $1.75 - $1.80 $0.80 - $0.825 $0.85 - $0.90 (billion

  10. Slide 10: For information contact:

    MOVING THE WORLD AT WORK For information Patrick N. Davidson Vice President, Investor Relations contact: (920) 966-5939 pdavidson@oshkoshcorp.com Jeff Watt Director, Investor Relations (920) 233-9406 jwatt@oshkoshcorp.com

  11. Slide 11: Appendix: Access Equipment

    Appendix: Access Equipment (Dollars in millions) First Quarter Comments 2014 2013  Sales impacted by: Net Sales $668.6 $581.3  Higher North American AWP volume (partially Tier 4 timing) % Change 15.0%* (7.4)%  Higher European volume  Price realization Operating Income $90.3 $48.9  Lower U.S. mi

  12. Slide 12: Appendix: Defense

    Appendix: Defense (Dollars in millions) First Quarter Comments  Sales impacted by: 2014 2013  Significantly lower volume Net Sales $481.3 $828.7 due to reduced U.S. defense spending % Change (41.9)% (21.1)%  Higher international M-ATV sales Operating Income $24.8 $60.9  Margins impacted by: % Ch

  13. Slide 13: Appendix: Fire & Emergency

    Appendix: Fire & Emergency (Dollars in millions) First Quarter Comments  Sales impacted by: 2014 2013 + Volume, primarily Net Sales $198.0 $182.1 international airport and % Change 8.7% 19.1% domestic fire truck deliveries Operating Income $6.9 $5.4  Margins impacted by: % Change 28.5% 185.2% + Pr

  14. Slide 14: Appendix: Commercial

    Appendix: Commercial (Dollars in millions) First Quarter Comments 2014 2013  Sales impacted by: + Higher parts & service Net Sales $192.6 $177.3 sales % Change 8.6% 3.3% + Higher concrete placement volume Operating Income $10.2 $8.0  Margins impacted by: % Change 27.7% 16.2% + Improved absorption

  15. Slide 15: Appendix: Commonly Used Acronyms

    Appendix: Commonly Used Acronyms ARFF Aircraft Rescue and Firefighting MECV Modernized Expanded Capability Vehicle AWP Aerial Work Platform MRAP Mine Resistant Ambush Protected CNG Compressed Natural Gas MSVS Medium Support Vehicle System (Canada) DoD Department of Defense MTT Medium Tactical Truck

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

    Appendix: Non-GAAP to GAAP Reconciliation • The tables 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): Three Months Ended December 31, 2013 2012 Access equipment segment sales excludin

  17. Slide 17: Appendix: Non-GAAP to GAAP Reconciliation

    Appendix: Non-GAAP to GAAP Reconciliation • The tables 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 2014 Expectations Net cash flows provided by operating activities $ 293.0

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