Oshkosh Corporation (holding Company) · NYSE:OSK

Oshkosh Corporation (holding Company) — Q2 FY2016 Earnings Presentation

16 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Apr 28, 2016

  1. Slide 1: Second Quarter Fiscal 2016 Earnings Call

    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 Second Quarter Fiscal 2016 Patrick N. Davidson Vice President, Investor Relations April 28, 2016

  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 FY16 Performance

    Q2 FY16  Q2 EPS of $0.76 OSK Fiscal Q2 Performance − Exceeded expectations (timing, performance and tax) Net Sales Adjusted (billions) EPS*  Higher sales, operating income $1.8 $1.00 and operating income margin $1.6 $1.5 $1.6 $0.81 vs. prior year in all segments $1.4 $0.76 $0.75 except access equi

  4. Slide 4: Access Equipment

    Access Equipment  Stronger than expected demand in Q2 − Believe largely timing − Supportive of responsible level of fleet investment  Backlog supports second half of 2016 outlook  Positive sentiment at recent trade shows − BAUMA 2016 − ARA Rental Show  Mixed global market conditions continue  I

  5. Slide 5: Defense

    Defense  Defense segment outlook continued to improve  JLTV ramp up gaining momentum − Competitor protest actions withdrawn − Production ramp up expected to be quicker than previous expectations  Positive multi-year domestic outlook − FY16 contract awards − FY17 President’s budget request  Activ

  6. Slide 6: Fire & Emergency

    Fire & Emergency  Another quarter of improved performance  Continued modest market recovery  Improved municipal spending  Large city fleet replacement  Revolutionary Ascendant™ two- axle aerial ladder truck continues to gain momentum − Contributing to share gains  Raised production rate during

  7. Slide 7: Commercial

    Commercial  Improved results compared to prior year quarter  Fleet replenishment drove continued RCV market demand  New lighter weight Meridian front end loader RCV − Beginning initial shipments − Market anticipation is high  Improved yr/yr concrete mixer order rate in Q2; cautious tone remains

  8. Slide 8: Consolidated Results

    Consolidated Results (Dollars in millions, except per share amounts) Second Quarter Q2 Comments 2016 2015  Sales impacted by: Net Sales $1,524.3 $1,554.2  Lower access equipment volume % Change (1.9)% (7.4)%  Higher defense, fire & emergency and commercial segment sales Operating Income $91.4 $10

  9. Slide 9: Updated Expectations for FY16

    Updated Expectations for FY16  Revenues of ~ $5.7 to $6.0 billion  Operating income of $305 million to $345 million  EPS of $2.30 to $2.70 Segment information Measure Access Defense Fire & Commercial Equipment Emergency Sales $2.8 to $2.95 $1.15 to $1.20 ~ $0.9 ~ $1.0 (billions) Operating ~10.0%

  10. Slide 10: For information contact:

    Patrick N. Davidson Jeffrey D. Watt For information Vice President, Investor Relations Director, Investor Relations contact: (920) 966-5939 (920) 233-9406 pdavidson@oshkoshcorp.com jwatt@oshkoshcorp.com MOVING THE WORLD AT WORK OSK Second Quarter 2016 Earnings Call April 28, 2016 10

  11. Slide 11: Appendix: Access Equipment

    Appendix: Access Equipment (Dollars in millions) Second Quarter Q2 Comments 2016 2015  Sales impacted by: Net Sales $754.3 $981.8  Lower North American volume, primarily telehandlers % Change (23.2)% 13.4%  Operating income impacted by:  Lower sales volume Operating Income $75.7 $136.9  Challen

  12. Slide 12: Appendix: Defense

    Appendix: Defense (Dollars in millions) Second Quarter Q2 Comments 2016 2015  Sales impacted by:  FHTV sales Net Sales $297.0 $158.7  International M-ATV sales % Change 87.1% (67.2)%  Operating income impacted by:  Higher sales volume Operating  Favorable product mix Income / (Loss) $27.8 $(12

  13. Slide 13: Appendix: Fire & Emergency

    Appendix: Fire & Emergency (Dollars in millions) Second Quarter Q2 Comments 2016 2015  Sales impacted by:  Higher fire apparatus volume Net Sales $240.4 $202.9  Operating income impacted by: % Change 18.5% 30.0%  Higher sales volume  Improved operational efficiencies Operating Income $14.9 $9.0

  14. Slide 14: Appendix: Commercial

    Appendix: Commercial (Dollars in millions) Second Quarter Q2 Comments 2016 2015  Sales impacted by:  Higher RCV volume Net Sales $236.7 $220.9 % Change 7.1% 21.2%  Operating income impacted by:  Improved product mix Operating Income $17.2 $8.6  Higher sales volume % Change 99.0% 59.9%  Backlog

  15. Slide 15: Appendix: Commonly Used Acronyms

    Appendix: Commonly Used Acronyms ARFF Aircraft Rescue and Firefighting MRAP Mine Resistant Ambush Protected AWP Aerial Work Platform MSVS Medium Support Vehicle System (Canada) CapEx Capital Expenditures NOL Net Operating Loss CNG Compressed Natural Gas NPD New Product Development DGE Diesel Gallon

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

    Appendix: Non-GAAP to GAAP Reconciliation • The table 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 March 31, 2015 Adjusted earnings per share-diluted (non-GAAP) $

Oshkosh — Q2 FY2016 Earnings Presentation on 6ix