Oshkosh Corporation (Holding Company) · NYSE:OSK
Oshkosh Corporation (Holding Company) — Q3 2018 Earnings Presentation
18 slides from Oshkosh Corporation (Holding Company)'s earnings presentation, Jul 31, 2018
Slide 1: Third Quarter Fiscal 2018 Earnings
MOVING THE WORLD AT WORK Wilson R. Jones President and Chief Executive Officer Oshkosh Corporation David M. Sagehorn (NYSE:OSK) Executive Vice President and Chief Financial Officer Third Quarter Fiscal 2018 Patrick N. Davidson Senior Vice President, Investor Relations July 31, 2018
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
Slide 3: Solid FY18 Q3 Performance
Solid FY18 Q3 Performance Yr/Yr growth in Q3 - Net sales, OSK Fiscal Q3 Performance adjusted operating income* and Net Sales adjusted EPS* Adjusted EPS* (billions) − Double digit percentage sales $2.4 $2.50 $2.20 growth in access equipment $2.18 $2.2 $2.04 segment $2.0 $2.00 $1.84 $1.8 $1.6 Mark
Slide 4: Access Equipment
Access Equipment Record quarterly sales Orders moderated after extremely strong first half North American rental market remains strong International demand continues to grow Making progress working through operations challenges − Efforts focused on supply chain and newer workforce Evalua
Slide 5: Defense
Defense Strong quarter despite lower international M-ATV sales Successfully executing JLTV program − Outstanding test results driving high levels of reliability − Large order for FY19 received in late June Strategic supplier for major TWV programs of record United Kingdom purchased Deliveries
Slide 6: Fire & Emergency
Fire & Emergency Another quarter of margin growth Focus on simplification continues Successful launch of new mid- mount Ascendant aerial Strong response at customer demo events Significant contract wins for U.S. Air Force and Beijing airport Macroeconomic factors support stable fire appa
Slide 7: Commercial
Commercial Meaningfully improved Q3 performance − RCV demand remains solid − Concrete mixer orders up over prior year Simplification activities gaining momentum North American construction markets and drivers remain positive − Demographics and building trends continue to be favorable − Fleet a
Slide 8: Consolidated Results
Consolidated Results (Dollars in millions, except per share amounts) Third Quarter Q3 Comments 2018 2017 Sales impacted by: Net Sales $2,175.8 $2,036.9 + Higher access equipment % Change 6.8% 16.6% segment sales − Lower defense segment sales Adjusted Operating Income* $229.3 $222.5 Adjusted EPS*
Slide 9: Updated FY18 Expectations
Updated FY18 Expectations Revenues of $7.60 to $7.65 billion Adjusted operating income* of $630 to $640 million Adjusted EPS* of $6.00 to $6.10 Segment information Measure Access Defense Fire & Commercial Equipment Emergency Sales ~$3.7 ~ $1.825 ~ $1.1 ~ $1.025 (billions) Adj. Operating ~10.5%
Slide 10: For information contact:
Patrick N. Davidson Jeffrey D. Watt For information Senior Vice President, Director, Investor Relations contact: Investor Relations (920) 233-9406 (920) 966-5939 jwatt@oshkoshcorp.com pdavidson@oshkoshcorp.com OSK Third Quarter 2018 Earnings Call July 31, 2018 10
Slide 11: Appendix: Access Equipment
Appendix: Access Equipment (Dollars in millions) Third Quarter Q3 Comments 2018 2017 Sales impacted by: + Higher telehandler and aerial Net Sales $1,160.1 $980.2 work platform volume % Change 18.4% 2.9% Adjusted operating income* impacted by: Adjusted Operating + Higher sales volume Income* $156
Slide 12: Appendix: Defense
Appendix: Defense (Dollars in millions) Third Quarter Q3 Comments 2018 2017 Sales impacted by: − M-ATV international sales Net Sales $442.6 $482.7 + Ramp up of JLTV program % Change (8.3)% 82.6% + Higher FMTV sales Operating income impacted by: Operating Income $47.5 $62.4 − Adverse product mix
Slide 13: Appendix: Fire & Emergency
Appendix: Fire & Emergency (Dollars in millions) Third Quarter Q3 Comments 2018 2017 Sales impacted by: + Improved pricing Net Sales $283.8 $282.9 − International sales timing % Change 0.3% 13.8% Operating income impacted by: + Improved pricing Operating Income $36.4 $30.8 − Higher SG&A costs %
Slide 14: Appendix: Commercial
Appendix: Commercial (Dollars in millions) Third Quarter Q3 Comments 2018 2017 Sales impacted by: + Higher RCV volume Net Sales $295.2 $295.2 − Lower concrete mixer volume % Change 0.0% 2.5% Operating income impacted by: + Improved product mix Operating Income $25.1 $21.6 + Lower operating expen
Slide 15: Appendix: 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, 2018 2017 Access equipment segment operating income (G
Slide 16: Appendix: 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): Fiscal Year Ended September 30, 2018 Expectations Low High Consolidated operating
Slide 17: Appendix: 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): Fiscal 2018 Expectations Net cash flows provided by operating activities $ 300.0 Additions to property, plan
Slide 18: Appendix: Commonly Used Acronyms
Appendix: Commonly Used Acronyms ARFF Aircraft Rescue and Firefighting M-ATV MRAP All-Terrain Vehicle AWP Aerial Work Platform MRAP Mine Resistant Ambush Protected AMPS Aftermarket Parts & Service MSVS Medium Support Vehicle System (Canada) CapEx Capital Expenditures NDAA National Defense Authorizat