Oshkosh Corporation (holding Company) · NYSE:OSK
Oshkosh Corporation (holding Company) — Q3 2021 Earnings Presentation
19 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Jul 29, 2021
Slide 1: Oshkosh Corporation Third Quarter Fiscal 2021
Oshkosh Corporation Third Quarter Fiscal 2021 July 29, 2021 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: Solid Q3 results as recovery continues
Solid Q3 results as recovery continues Q3 adj. EPS* of $2.09, driven by strength across the enterprise OSK Q3 Performance $2.2 Key announcements during the quarter $2.09 Won U.S. Army’s MCWS contract $1.6 EV product launch with Volterra fire truck +39.7% $1.29 Selected Spartanburg, SC to b
Slide 4: Access Equipment
Access Equipment JLG DaVinciTM Electric Scissors Lift Demand has strengthened Fleet age and strong utilization driving demand Healthy rental market Strong orders and backlog Supply chain challenges impacted production during Q3 Growing demand for electric products Believe access equipm
Slide 5: Defense
Defense Medium Caliber Weapons System (MCWS) Double digit growth in revenues and operating income Announced Spartanburg, SC as location for USPS Next Generation Delivery Vehicle production Hiring more than 1,000 team members 10-year program calls for 50,000 to 165,000 vehicles Production d
Slide 6: Fire & Emergency
Fire & Emergency Pierce and Oshkosh Airport Products VolterraTM Platform of Electric Vehicles Solid sales led to excellent operating income margin despite supply chain challenges Resilient municipal budgets driving improved outlook for fire truck market Backlog remains robust Strong orders i
Slide 7: Commercial
Commercial McNeilus Electric RCV for Boise Strong sales growth and 10.6% operating income margin in the quarter Demand returning as evidenced by solid order growth for both RCVs and concrete mixers Working to overcome cost pressures as well as component & chassis availability issues Record b
Slide 8: Consolidated results
Consolidated results Dollars in millions, except per share amounts Third Quarter 2021 2020 Q3 comments Net Sales $ 2,208.8 $ 1,580.8 Sales impacted by: % Change 39.7% (33.9)% + Higher sales in all segments, led by Access Equipment and Adjusted operating income * $ 205.1 $ 128.8 Defense segments %
Slide 9: Updated FY21 expectations
Updated FY21 expectations • Revenues of ~ $7.8 billion • Adj. operating income* of $610-630 million • Adj. EPS* of $6.35 to $6.50 Segment information Additional expectations Access Fire & Measure Defense Commercial Corporate expenses of ~ $155 million Equipment Emergency Adj. Tax rate of ~22.5%*
Slide 10: Contacts
Contacts: Pierce Volterra Fire Truck Patrick N. Davidson Senior Vice President, Investor Relations pdavidson@oshkoshcorp.com 920-502-3266 Third Quarter 2021 Earnings Call July 29, 2021 10
Slide 11: Appendix: Access Equipment
Appendix: Access Equipment Q3 comments Dollars in millions Third Quarter 2021 2020 Sales impacted by: + Strong return of demand led Net Sales $ 924.3 $ 488.0 by North America % Change 89.4% (60.9)% Adjusted operating income* Adjusted operating income* $ 114.3 $ 41.1 impacted by: % Change 178.1%
Slide 12: Appendix: Defense
Appendix: Defense Q3 comments Dollars in millions Sales impacted by: Third Quarter 2021 2020 + Higher JLTV volume Net Sales $ 710.4 $ 561.2 + Inclusion of Pratt Miller results % Change 26.6% 5.1% Operating income impacted by: Operating Income $ 59.8 $ 41.4 + Higher sales % Change 44.4% 33.1% + L
Slide 13: Appendix: Fire & Emergency
Appendix: Fire & Emergency Q3 comments Dollars in millions Third Quarter 2021 2020 Sales impacted by: + Higher Pierce fire truck deliveries Net Sales $ 302.5 $ 299.6 - Lower ARFF unit deliveries % Change 1.0% (6.8)% Adjusted operating income Adjusted operating income $ 44.5 $ 47.3* impacted by:
Slide 14: Appendix: Commercial
Appendix: Commercial Dollars in millions Q3 comments Third Quarter 2021 2020 Sales impacted by: Net Sales $ 278.1 $ 247.7 + Higher RCV volume % Change 12.3% (16.3)% - Sale of CON-E-CO Adjusted operating income $ 29.6 $ 25.3* Adjusted operating income % Change 17.0% 17.7% impacted by: % Margin 10
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 2021 2020 • Earnings per share-diluted (GAAP) $ 3.07 $ 1.
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 2021 2020 • Access Equipment segment operating income (GAAP) $ 113.0 $ 33.5 • Restr
Slide 17: 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): FY21 expectations Low High • Consolidated operating income (GAAP) $ 595.0 $ 615.0 •
Slide 18: 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 FY21 expectations • Access Equipment segment operating income margin (GAAP) 10.0% • Restructuring-related costs 0.5% • Adjust
Slide 19: Commonly used acronyms
Appendix: Commonly used acronyms ARFF Aircraft Rescue and Firefighting JPO Joint Program Office AWP Aerial Work Platform JUONS Joint Urgent Operational Needs Statement AMPS Aftermarket Parts & Service LRIP Low Rate Initial Production APAC Asia Pacific LVSR Logistic Vehicle System Replacement ASC Acc
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