Oshkosh Corporation (holding Company) · NYSE:OSK

Oshkosh Corporation (holding Company) — Q2 2023 Earnings Presentation

17 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Aug 1, 2023

  1. Slide 1: Oshkosh Corporation Second Quarter Fiscal 2023

    Oshkosh Corporation Second Quarter Fiscal 2023 August 1, 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: Q2 highlights

    Q2 highlights  Strong results with revenue growth of Q2 Performance 17% leading to adj. EPS* of $2.69 $2.4 $2.69  Enabled by better than expected supply $2.1 chain performance +16.8%  Robust demand continued with healthy orders and record backlog of $15B  Announced plans to acquire JBT’s +449% $

  4. Slide 4: Access

    Access SkyTrak® Telehandler  Supply chain performance and production throughput exceeded expectations  Strong indicators of demand  Mega projects/infrastructure spending  New use cases  Aged customer fleets  Strong orders of $1.3B led to book-to-bill ratio of 1:1; backlog remains elevated  Ad

  5. Slide 5: Defense

    Defense Oshkosh Defense Vehicles  Modestly lower revenues vs. prior year, in-line with customer requirements  Expect JLTV production through end of 2024  Long term, solid programs of record including FMTV & FHTV, among others; provide strong foundation of $1 billion- plus of annual revenue at mid

  6. Slide 6: Vocational

    Vocational McNeilus® Volterra™ ZSL™  Strong operating performance led to >10% adjusted operating income margin  Improved supply chain supported solid results; strong fire truck pricing in backlog will benefit margins in 2024 and beyond  Fire truck demand continues to be strong; working to increas

  7. Slide 7: Update on acquisition of JBT's AeroTech business

    Update on acquisition of JBT’s AeroTech business  Leading global provider of aviation ground Tempest-i™ Deicer support products, gate equipment and airport services  Adds attractive & scalable growth channel  Expands into new adjacencies  Increases aftermarket & services revenue  Significant op

  8. Slide 8: Consolidated results

    Consolidated results Dollars in millions, except per share amounts Three months ended June 30 2023 2022 Q2 comments Net Sales $ 2,413.1 $ 2,066.0  Sales impacted by: % Change 16.8% (6.5)% + Higher volume, primarily in Access + Improved pricing Adjusted operating income $ 236.9* $ 76.3 % Change 210.

  9. Slide 9: Updated 2023 Outlook

    Updated 2023 Outlook Expectations in the range of: • Revenues of ~$9.5 billion (1) • Adjusted operating income of ~$750 million (1)(2) Segment information • Adjusted EPS of ~$8.00 (2) Measure Access Defense Vocational (1) Additional expectations  Corporate expenses of ~$180 million  Tax rate of ~2

  10. Slide 10: Contacts

    Contacts: Pierce® Volterra™ Family of Electric Vehicles 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 Second Quarter 2023 Earnings Call August 1, 2023 10

  11. Slide 11: Appendix: Access

    Appendix: Access Q2 comments  Sales impacted by: Dollars in millions + Higher volume Three months ended June 30 2023 2022 + Improved pricing Net Sales $ 1,328.3 $ 977.1 + Hinowa volume % Change 35.9% 5.7%  Operating income impacted by: Operating income $ 211.7 $ 72.7 + Favorable price/cost dynamic

  12. Slide 12: Appendix: Defense

    Appendix: Defense Q2 comments Dollars in millions  Sales impacted by: Three months ended June 30 2023 2022 - Lower JLTV volume Net Sales $ 498.1 $ 539.3 + Higher FMTV volume % Change (7.6)% (24.1)%  Operating income impacted by: Operating Income $ 6.3 $ 3.8 + Lower unfavorable CCA % Change 65.8% (

  13. Slide 13: Appendix: Vocational

    Appendix: Vocational Q2 comments Dollars in millions  Sales impacted by: Three months ended June 30 2023 2022 + Higher prices Net Sales $ 587.5 $ 551.8 + Higher volume % Change 6.5% (5.0)% - Sale of RDM business Adjusted operating income $ 62.5* $ 39.8  Adjusted operating income* % Change 57.0% (4

  14. Slide 14: 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; in millions, except per share amounts): Three months ended June 30, 2023 2022 Vocational segment operating income

  15. Slide 15: 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): Fiscal 2023 Expectations Three months ended September 30, Earnings per share-diluted (GAAP) $ 2.07 Acquisition c

  16. Slide 16: 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, in millions): Fiscal 2023 Fiscal 2023 Expectations Expectations 725.0 Net cash provided by operating activities $

  17. Slide 17: 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 LRIP Low Rate Initial Production ASC Accounting Standards Codif

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