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Mar 31, 2020
Oshkosh Q2 2020 Earnings Report
Oshkosh reported a decrease in net sales and operating income due to lower sales in access equipment and fire & emergency segments, offset by higher defense segment sales.
Key Takeaways
Oshkosh Corporation reported fiscal year 2020 second quarter net income of $68.6 million, or $0.99 per diluted share. Consolidated net sales decreased 9.7 percent to $1.80 billion. Consolidated operating income decreased 23.9 percent to $133.6 million.
Delivered adjusted earnings per share of $1.25 on sales of $1.8 billion.
Facing uncertain demand in the access equipment and commercial segments.
Implemented a company-wide cost reduction plan that targets $80 million to $100 million in savings for the second half of fiscal 2020.
Liquidity of approximately $1.2 billion at March 31.
Oshkosh
Oshkosh
Oshkosh Revenue by Segment
Revenue by Segment
Access Equipment Revenue
CapyFin.comDefense Revenue
CapyFin.com Forward Guidance
Oshkosh is facing uncertain demand in the access equipment and commercial segments as well as potential disruptions with supply chain continuity and team member availability in all of its segments.
Positive Outlook
- Large customer backlogs in both our defense and fire & emergency segments
- Good visibility for these businesses well into fiscal 2021
- Integrated supply chain is collaborating across the world to pursue alternatives with our supply partners
- Communicating frequently with our people to mitigate these risks.
- Balance sheet is strong and our liquidity of approximately $1.2 billion at March 31 positions us well to navigate through the global pandemic.
Challenges Ahead
- Uncertain demand in the access equipment and commercial segments
- Potential disruptions with supply chain continuity
- Potential disruptions with team member availability in all of our segments.
- COVID-19 pandemic
- Global economic shutdown
Revenue & Expenses
Visualization of income flow from segment revenue to net income