Oshkosh Corporation (holding Company) · NYSE:OSK
Oshkosh Corporation (holding Company) — Q3 2022 Earnings Presentation
17 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Oct 27, 2022
Slide 1: Oshkosh Corporation Third Quarter Fiscal 2022
Oshkosh Corporation Third Quarter Fiscal 2022 October 27, 2022 JOHN PFEIFER - PRESIDENT AND CHIEF EXECUTIVE OFFICER MIKE PACK – EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER PATRICK DAVIDSON – SENIOR VICE PRESIDENT, INVESTOR RELATIONS
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: Q3 highlights
Q3 highlights Strong sequential earnings growth Calendar Q3 Performance despite ongoing supply chain disruptions $2.06 $2.07 Access Equipment returned to double digit adjusted operating margins* 0.2% of 11.3% Strong demand driven by market $1.05 $1.00 dynamics and aged fleets in multiple busin
Slide 4: Access Equipment
Access Equipment JLG telescopic self-leveling boom lift Strong rebound in operating margins driven by pricing actions Supply chain continues to impact production output and efficiencies Demand remains strong Aged customer fleets with strong utilization Strong non-residential construction a
Slide 5: Defense
Defense ROGUE Fires unmanned ground vehicle Lower year over year revenues driven by supply chain disruptions and lower DoD tactical wheeled vehicle requirements Elevated material and freight cost projections led to unfavorable CCA Submitted JLTV II proposal in mid-August; decision expected in
Slide 6: Fire & Emergency
Fire & Emergency Jacksonville’s Pierce Ascendant® 100’ Heavy-Duty Aerial Tower Demand remains strong bolstered by many new product and technology offerings Supply chain disruption & labor constraints limiting vehicle production Negative impact on operating margin Backlog remains elevated at
Slide 7: Commercial
Commercial McNeilus RCV Solid revenue growth but chassis availability continues to be a constraint Adjusted operating margins* vs. prior year impacted by investments in NPD and higher warranty expenses Investing in Manufacturing 4.0 strategy First RCV High Flow Line (HFL) driving improved me
Slide 8: Consolidated results
Consolidated results Dollars in millions, except per share amounts Three months ended September 30 2022 2021 Q3 comments Net Sales $ 2,066.7 $ 2,063.0 Sales impacted by: % Change 0.2% 15.6% + Improved pricing − Supply chain disruptions Adjusted operating income $ 114.0* $ 104.2 % Change 9.4% (16.0
Slide 9: Outlook for 2022
Outlook for 2022 Supply chain conditions have not shown notable improvement Inflation has remained persistent, as supported by recent PPI data Intend to continue to price for inflation in non-Defense segments Reiterating expectations for revenue and adjusted EPS* in the range of $8.3 billion
Slide 10: Contacts
Contacts: JLTV at AUSA 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 Third Quarter 2022 Earnings Call October 27, 2022 10
Slide 11: Appendix: Access Equipment
Appendix: Access Equipment Q3 comments Dollars in millions Three months ended September 30 2022 2021 Sales impacted by: + Improved pricing Net Sales $ 1,037.9 $ 845.9 + Higher North America volume % Change 22.7% 37.3% Adjusted operating income* Adjusted operating income $ 117.8* $ 30.7 impacted
Slide 12: Appendix: Defense
Appendix: Defense Q3 comments Dollars in millions Sales impacted by: Three months ended September 30 2022 2021 - Lower JLTV volume Net Sales $ 518.7 $ 650.2 % Change (20.2)% 5.1% Operating income impacted by: ‒ Lower sales volume Operating Income $ 2.3 $ 49.7 ‒ Unfavorable CCA % Change (95.4)% (
Slide 13: Appendix: Fire & Emergency
Appendix: Fire & Emergency Q3 comments Dollars in millions Sales impacted by: Three months ended September 30 2022 2021 - Lower fire truck deliveries as a Net Sales $ 247.2 $ 337.7 result of supply chain disruption % Change (26.8)% 9.6% - Lower ARFF demand Operating income $ 19.2 $ 47.2 Operatin
Slide 14: Appendix: Commercial
Appendix: Commercial Q3 comments Dollars in millions Sales impacted by: Three months ended September 30 2022 2021 + Improved pricing Net Sales $ 264.5 $ 233.8 Adjusted operating income* % Change 13.1% (6.2)% impacted by: Adjusted Operating income $ 11.5* $ 10.7 + Favorable mix % Change 7.5% (47.
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 Three months ended September 30, 2022 2021 Earnings per share-diluted (GAAP) $ 0.90 $ 1.30 Foreign entity liquidation, net of
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): Three months ended Three months ended September 30, June 30, 2022 2021 2022 2021 Access Equipment segment oper
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