Oshkosh Corporation (Holding Company) · NYSE:OSK
Oshkosh Corporation (Holding Company) — Q1 2018 Earnings Presentation
18 slides from Oshkosh Corporation (Holding Company)'s earnings presentation, Jan 25, 2018
Slide 1: Oshkosh Corporation First Quarter Fiscal 2018
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 First Quarter Fiscal 2018 Patrick N. Davidson Senior Vice President, Investor Relations January 25, 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 Start to FY18
Solid Start to FY18 OSK Fiscal Q1 Performance Q1 adjusted EPS* of $0.84, exceeded expectations Net Sales (billions) Adjusted EPS Double digit percentage sales $0.90 $0.84* growth in defense, access and $2.4 $2.2 $0.80 commercial segments $2.0 $0.70 $1.8 $1.59 $0.60 Generally solid performance
Slide 4: Access Equipment
Access Equipment National rental company negotiations largely complete − Consistent positive customer outlook Q1 orders up 94% vs. prior year − Customers placed orders earlier − Ending backlog more than 2.5x prior year level Continued solid international demand (Latin America remains weak) I
Slide 5: Defense
Defense Strong results driven by JLTV ramp up and international M-ATV shipments JLTV continues to track positively to the program schedule ‒ Strong reliability test results ‒ Received $100 million order in Q1 − Constructive dialogue with international customers Progress in pursuit of additiona
Slide 6: Fire & Emergency
Fire & Emergency Strong performance in FY17 continued in Q1 FY18 Lower international ARFF deliveries largely offset by higher fire apparatus sales North American fire truck market grew 4% in FY17 − Expect “flat to slightly positive” market in FY18, supported by continued growing municipal tax
Slide 7: Commercial
Commercial Q1 results in line with expectations Implemented new organizational structure − Supports greater accountability and long-term strategy Committed to improved performance − Driving lasting change through simplification activities Positive longer-term outlook for RCV and concrete mix
Slide 8: Consolidated Results
Consolidated Results (Dollars in millions, except per share amounts) First Quarter Q1 Comments 2018 2017 Sales impacted by: Net Sales $1,586.3 $1,211.4 + Higher sales in defense, access % Change 30.9% (3.2)% equipment and commercial segments Adjusted Operating Adjusted EPS* impacted by: Income $
Slide 9: Updated FY18 Expectations
Updated FY18 Expectations Revenues of $7.1 to $7.3 billion Adjusted operating income* of $550 million to $600 million Adjusted EPS* of $5.00 to $5.45 Segment information Measure Access Defense Fire & Commercial Equipment Emergency Sales $3.3 - $3.4 ~ $1.8 – $1.85 ~ $1.1 ~ $0.975 (billions) Adj
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 First Quarter 2018 Earnings Call January 25, 2018 10
Slide 11: Appendix: Access Equipment
Appendix: Access Equipment (Dollars in millions) First Quarter Q1 Comments 2018 2017 Sales impacted by: + Higher aerial work platform and Net Sales $628.2 $489.2 telehandler sales % Change 28.4% (7.7)% Adjusted operating income* impacted by: Adjusted Operating + Higher sales volume Income $29.9*
Slide 12: Appendix: Defense
Appendix: Defense (Dollars in millions) First Quarter Q1 Comments 2018 2017 Sales impacted by: + Ramp up of JLTV program Net Sales $493.5 $294.5 + M-ATV international sales % Change 67.6% (7.4)% Operating income impacted by: + Higher sales volume Operating Income $65.2 $23.8 + Improved manufactu
Slide 13: Appendix: Fire & Emergency
Appendix: Fire & Emergency (Dollars in millions) First Quarter Q1 Comments 2018 2017 Sales impacted by: − Lower international ARFF Net Sales $229.1 $232.5 deliveries % Change (1.5)% 12.0% + Higher fire truck sales Operating income impacted by: Operating Income $25.1 $17.0 + Improved pricing % Ch
Slide 14: Appendix: Commercial
Appendix: Commercial (Dollars in millions) First Quarter Q1 Comments 2018 2017 Sales impacted by: + Higher concrete mixer and RCV Net Sales $241.4 $199.2 unit volume % Change 21.2% (0.6)% Adjusted operating income* impacted by: Adjusted Operating + Higher sales volume Income $10.8* $4.6 Backlo
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 December 31, 2017 2016 Access equipment segment operating incom
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 $ 500.0 Additions to property, plan
Slide 18: Appendix: Commonly Used Acronyms
Appendix: Commonly Used Acronyms ARFF Aircraft Rescue and Firefighting LVSR Logistic Vehicle System Replacement AWP Aerial Work Platform M-ATV MRAP All-Terrain Vehicle AMPS Aftermarket Parts & Service MRAP Mine Resistant Ambush Protected CapEx Capital Expenditures MSVS Medium Support Vehicle System