Oshkosh Corporation (Holding Company) · NYSE:OSK
Oshkosh Corporation (Holding Company) — Q3 2011 Earnings Presentation
15 slides from Oshkosh Corporation (Holding Company)'s earnings presentation, Jul 28, 2011
Slide 1: Oshkosh Corporation Third Quarter Fiscal 2011
Oshkosh Corporation Third Quarter Fiscal 2011 July 28, 2011 Mission Driven: To Move the World at Work Charles L. Szews President and Chief Executive Officer David M. Sagehorn Executive Vice President and Chief Financial Officer Patrick N. Davidson Vice President of 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: Oshkosh Q3 FY11 Results
Oshkosh Q3 FY11 Results Sales of $2.02 billion and EPS of $0.75 Continued C ti d iimprovementt iin OSK Fiscal Q3 Performance access equipment business $3,000 $2.50 $2.31 $2,439 Steady progress on FMTV $2,500 $2.00 Net Sales* ns) production ramp EPS* E (million $2 023 $2,023 $2,000 $1.50 Soli
Slide 4: Market Conditions
Market Conditions Access A equipment i t continues ti tto experience robust market improvement Replacement demand in mature markets Market acceptance of increased pricing Significant pressure on defense spending Opportunities for new business Municipal spending declined further, yet: C
Slide 5: Operations Update
Operations Update FMTV production update Achieving customer delivery and quality milestones Successful transfer of FHTV production to Harrison Street facility Access equipment raising production rates Production increases challenged by supply chain constraints Facilities optimization con
Slide 6: Consolidated Results
Consolidated Results (Dollars in millions, except per share amounts) Third Quarter Comments 2011 2010 Sales S l iimpacted dbby: Net Sales $2,022.9 $2,439.0 – Lower M-ATV related volume % Change (17.1)% 100.8% + FMTV volume + Traditional access equipment Operating Income $126.0 $340.5 business % Ch
Slide 7: Expectations for Q4, FY11
Expectations for Q4, FY11* Defense revenues flat compared with Q3, FY11 – OI margin less than 5% – Tire constraint likely to impact outlook Modestly higher access equipment revenues – Traditional access equipment revenues significantly higher – Lower Lo er M M-ATV ATV related revenues re en es –
Slide 8: Expectations for FY12
Expectations for FY12 Defense revenues modestly lower – Mid single digit OI margin due to significant mix shift Approximately 25% higher revenues for access equipment – Mid to upper single digit OI margin Slightly lower fire & emergency revenues – Cost C reduction d i d drives i iimproved d OI
Slide 9: Mission Driven: To Move the World at Work
Mission Driven: To Move the World at Work arket recovery Capture full upside of economic recovery and market and growth growth with strong focus on execution and conquest sales Optimize our cost and capital structure to provide value for ptimize cost and customers and shareholders capital p structur
Slide 10: For information contact: Investor Relations
For information contact: Patrick Davidson Vice President, Investor Relations 920 966-5939 [email protected] Tina Schmiedel Director, Investor Relations 920 233-9235 [email protected] OSK – EARNINGS CONFERENCE CALL 1010 JULY 28, 2011 THIRD QUARTER FISCAL 2011
Slide 11: Appendix: Defense
Appendix: Defense (Dollars in millions) Third Quarter Comments 2011 2010 ■ Sales impacted p by: y Net Sales $1,107.0 $1,700.7 Significantly lower M-ATV volume compared to % Change (34.9)% 180.9% prior year FMTV production ramp-up Operating Income $112.5 $304.1 ■ Margins impacted by: % Margin 10.
Slide 12: Appendix: Access Equipment
Appendix: Access Equipment (Dollars in millions) Third Quarter** Comments 2011 2010 ■ Sales impacted p by: y Net Sales* $580.1 $711.2 Mature market replacement demand % Change (18.4)% 208.0% Prior year M-ATV i t intersegmentt sales l Operating Income $29.5 $30.9 ■ Margins impacted by: % Margin 5
Slide 13: Appendix: Fire & Emergency
Appendix: Fire & Emergency (Dollars in millions) Third Quarter Comments 2011 2010 ■ Sales impacted by: Net Sales $216.0 $222.0 Lower municipal spending activity g % Change ((2.7)% ) ((17.4)% ) Timing of airport products deliveries Operating Income $4.4 $18.3 ■ Margins impacted by: % Margin g 2.0
Slide 14: Appendix: Commercial
Appendix: Commercial (Dollars in millions) Third Quarter Comments 2011 2010 ■ Sales S l impacted i d by: b Net Sales $158.5 $158.3 Higher sales of mechanic trucks and telescoping g % Change 0.1% 14.4% cranes Improved aftermarket parts sales Operating Income $3.7 $7.0 – Lower RCV and % Margin 2 4
Slide 15: 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 CNG Compressed Natural Gas MSVS Medium Support Vehicle System (Canada) DoD Department of Defense MTT Medium Tactical Truck EAME Europe,