Oshkosh Corporation (NYSE:OSK) Q1 2020 Earnings Conference Call - Final Transcript

Jan 29, 2020 • 09:00 am ET


Oshkosh Corporation (NYSE:OSK) Q1 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Oshkosh Corporation Fiscal 2020 First Quarter Results Conference Call. [Operator Instructions] A brief question-and-answer session will follow the formal presentation. [Operator Instructions] It is now my pleasure to introduce your host, Pat Davidson, Senior Vice President of Investor Relations for Oshkosh Corporation. Thank you sir, you may begin.

Patrick Davidson

Good morning, and thanks for joining us. Earlier today, we published our first quarter 2020 results. A copy of the release is available on our website at oshkoshcorp.com. Today's call is being webcast and is accompanied by a slide presentation, which includes a reconciliation of GAAP to non-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 2 of that presentation.

Our remarks that follow including answers to your questions contain 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 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; John Pfeifer, Executive Vice President and Chief Operating Officer; and Dave Sagehorn, Executive Vice President and Chief Financial Officer.

Please turn to Slide 3, and I'll turn it over to you, Wilson.

Wilson R. Jones

Thank you Pat. Good morning everyone. I'm going to start by welcoming Mike Pack who will soon be joining our executive leadership team. As you are aware, they Dave Sagehorn, our longstanding CFO and my partner on earnings calls and investor meetings, will be retiring this spring. We're fortunate to have somebody Mike's caliber stepping into this important position. Mike has been with Oshkosh since 2006 and for the last eight years, has been the Vice President of Finance of our Fire & Emergency segment. He has been a major contributor to the success and record operating income margins that, that segment has achieved. We all look forward to Mike assuming the bigger leadership role in the coming months. I'll share some comments on my friend Dave later in this call.

We are pleased to announce a solid first quarter and a good start to the year as we kick off 2020. First quarter earnings per share of $1.10 was in line with our expectations and supportive of our full-year outlook, but down compared to last year's first quarter. Our team members were focused on executing and delivering on