Oshkosh Corporation (NYSE:OSK) Q3 2017 Earnings Conference Call - Final Transcript

Aug 02, 2017 • 09:00 am ET

Previous

Oshkosh Corporation (NYSE:OSK) Q3 2017 Earnings Conference Call - Final Transcript

Share
Close

Loading Event

Loading Transcript

Presentation
Operator
Operator

Greetings and welcome to the Oshkosh Corporation Fiscal 2017 Third Quarter Results Conference Call.

[Operator Instructions]

I'd now like to turn the conference over to your host, Mr. Pat Davidson, Vice President of Investor Relations for Oshkosh Corporation. Thank you. You may now begin.

Executive
Patrick N. Davidson

Good morning and thanks for joining us. Earlier today, we published our third quarter 2017 results. A copy of the release is available on our website at oshkoshcorporation.com. Today's call is being webcast and is accompanied by a slide presentation, which includes a reconciliation of non-GAAP to GAAP financial measures that we will use during this call and is also available on our website. The audio replay and slide presentation will be available on our website for approximately 12 months.

Please refer now to Slide two of that presentation. Our remarks that follow, including answers to your questions, include statements that we believe to be forward-looking statements, within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks that could cause actual results to be materially different from those expressed or implied by such forward-looking statements. These risks can include, among others, matters that we have described in our Form 8-K filed with the SEC this morning and other filings we make with the SEC. We disclaim any obligation to update these forward-looking statements, which may not be updated until our next quarterly earnings conference call if at all.

All references on this call to a quarter or a year are to our fiscal quarter or fiscal year, unless stated otherwise. Our presenters today include Wilson Jones, President and Chief Executive Officer; and Dave Sagehorn, Executive Vice President and Chief Financial Officer.

Please turn to Slide three and I'll turn it over to you, Wilson.

Executive
Wilson R. Jones

Thanks, Pat. Good morning everyone. I am happy to announce another quarter of strong results, at the Oshkosh Corporation. We grew revenue in all four business segments, led by our defense segment and we grew both adjusted operating income and adjusted operating income margin, leading to an adjusted earnings per share of $1.84 versus $1.13 in the prior year quarter. It was a successful quarter by many measures, including ending the quarter with higher backlogs in all of our non-defense segments. These positive results have been fueled by the efforts of our proud and dedicated team members, across the globe.

As many of you know, we're celebrating our 100th anniversary and we recently held an engaging weekend of events, including a parade with more than 60 of our products, hosted thousands of friends and family for an open house in one of our Oshkosh manufacturing facilities and even entertained our guests with a truck rodeo. It was a great way to recognize the efforts of our team members, past and present, who've helped make Oshkosh Corporation the great company it is today.

As we look at our third quarter and year-to-date results, it is clear that we are doing better than we expected at our Analyst