Oshkosh Corporation (holding Company) · NYSE:OSK

Oshkosh Corporation (holding Company) — Q3 2020 Earnings Presentation

17 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Jul 30, 2020

  1. Slide 1: Oshkosh Corporation Third Quarter Fiscal 2020

    Oshkosh Corporation Third Quarter Fiscal 2020 July 30, 2020 WILSON JONES – CHIEF EXECUTIVE OFFICER JOHN PFEIFER - PRESIDENT AND CHIEF OPERATING 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: Q3 results driven by strong execution

    Q3 results driven by strong execution  Delivered solid performance despite $2.72 $2.39 pandemic challenges  Disciplined execution throughout the (33.9%) company $1.58 (52.6%)  Benefited from Oshkosh culture $1.29  Aided by temporary cost reductions  Remain focused on execution for long- term su

  4. Slide 4: Access Equipment

    Access Equipment  Swift actions supported solid Q3 performance despite impact of COVID-19  Extending temporary manufacturing shutdowns in North America and Europe through Q4  Announced permanent cost reductions  Shifting some European production to U.S., Mexico and China  Modest workforce reduc

  5. Slide 5: Defense

    Defense  Another solid quarter highlighted by ongoing JLTV ramp up  Provides sound foundation and multi-year visibility  Received order for JLTV trailers  International interest levels remain high  Robust backlog extends into FY22  Announced JV in the Kingdom of Saudi Arabia in May  New colle

  6. Slide 6: Fire & Emergency

    Fire & Emergency  Returned to strong double-digit operating income margin in Q3  Successfully resolved Q2 supplier quality issue  Improved customer travel and inspection flow  As expected, lower fire truck orders in Q3 following an all-time record in Q2  Backlog remains solid  Potential for lo

  7. Slide 7: Commercial

    Commercial  Customer demand has slowed as a result of COVID- 19 pandemic  Solid execution enabled strong Q3 performance  Simplifying business with recent announcements  Relocating concrete mixer production from Dodge Center to other North American facilities  Sold Con-E-Co batch plant business

  8. Slide 8: Consolidated results

    Consolidated results Dollars in millions, except per share amounts Third Quarter 2020 2019 Q3 comments Net Sales $ 1,580.8 $ 2,392.7  Sales impacted by: % Change (33.9)% 10.0% − Lower access equipment segment Adjusted operating income* $ 128.8 $ 257.8 sales % Change (50.1)% 12.0%  Adjusted EPS* im

  9. Slide 9: Update on remainder of FY20

    Update on remainder of FY20 • Not providing quantitative expectations for FY20 • Expect to exceed temporary cost reduction target of $80-100 million pre-tax savings through end of FY20 • Announced restructuring plans and cost reduction actions targeting $30-35 million in annualized savings • Balance

  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 Third Quarter 2020 Earnings Call July 30, 2020 10

  11. Slide 11: Appendix: Access Equipment

    Appendix: Access Equipment Q3 comments Dollars in millions Third Quarter 2020 2019  Sales impacted by: − Effects of COVID-19 on global Net Sales $ 488.0 $ 1,249.1 markets % Change (60.9)% 7.7%  Adjusted operating income* Adjusted operating income* $ 41.1 $ 189.9 impacted by: % Change (78.4)% 21.6%

  12. Slide 12: Appendix: Defense

    Appendix: Defense Q3 comments Dollars in millions  Sales impacted by: Third Quarter 2020 2019 + Continued ramp up of JLTV Net Sales $ 547.5 $ 511.1 production % Change 7.1% 15.5% + Higher AMPS sales Operating Income $ 40.0 $ 29.5 ‒ Lower FHTV program sales % Change 35.6% (38.8)%  Operating income

  13. Slide 13: Appendix: Fire & Emergency

    Appendix: Fire & Emergency Q3 comments Dollars in millions Third Quarter 2020 2019  Sales impacted by: − Lower build rate as a result of Net Sales $ 310.7 $ 341.0 COVID-19 % Change (8.9)% 20.2% + Catch up of fire truck deliveries Adjusted operating income* $ 48.7 $ 50.7  Adjusted operating income*

  14. Slide 14: Appendix: Commercial

    Appendix: Commercial Dollars in millions Q3 comments Third Quarter 2020 2019  Sales impacted by: Net Sales $ 247.7 $ 296.1 − Lower demand due to COVID-19 % Change (16.3)% 0.3%  Adjusted operating income* Adjusted operating income* $ 25.3 $ 21.5 impacted by: % Change 17.7% (14.3)% + Impact of parti

  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 June 30 Change from 2020 2019 2019 to 2020 • Consolidated operati

  16. Slide 16: 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 June 30 Change from 2020 2019 2019 to 2020 • Access Equipment segment operating income (GAA

  17. Slide 17: Commonly used acronyms

    Appendix: Commonly used acronyms ARFF Aircraft Rescue and Firefighting JUONS Joint Urgent Operational Needs Statement AWP Aerial Work Platform L-ATV Light Combat Tactical All-Terrain Vehicle AMPS Aftermarket Parts & Service LRIP Low Rate Initial Production APAC Asia Pacific LVSR Logistic Vehicle Sys

Oshkosh Corporation (Holding Company)Common Stock — Q3 2020 Earnings Presentation on 6ix