This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Oshkosh Corporation Reports Fiscal 2013 Third Quarter Results

Oshkosh Corporation (NYSE: OSK) today reported fiscal 2013 third quarter net income of $148.4 million, or $1.67 per diluted share, compared to $77.1 million, or $0.84 per diluted share, in the third quarter of fiscal 2012. All results are for continuing operations attributable to Oshkosh Corporation, unless stated otherwise.

Consolidated net sales in the third quarter of fiscal 2013 were $2.20 billion, an increase of 2.1 percent compared to the prior year third quarter. Higher sales in the Company’s access equipment segment were largely offset by an expected decline in defense segment sales.

Consolidated operating income in the third quarter of fiscal 2013 was $225.6 million, or 10.2 percent of sales, compared to $126.2 million, or 5.8 percent of sales, in the prior year third quarter. Operating income margins improved in the third quarter of fiscal 2013 as a result of strong performance by the Company’s access equipment and defense segments. This performance was driven by favorable product mix, including increased international sales of MRAP All-Terrain Vehicles (M-ATVs), improved pricing, as well as product and process cost reductions.

“The employees of Oshkosh Corporation diligently executed our MOVE strategy to deliver outstanding third quarter results, highlighted by earnings per share of $1.67, which is nearly double our fiscal 2012 third quarter earnings per share of $0.84,” said Charles L. Szews, Oshkosh Corporation chief executive officer. “Our access equipment segment, in particular, stood out with higher sales and operating income margins reaching more than 16 percent for the quarter. Our defense team also delivered solid results, despite continued headwinds from reduced U.S. defense spending.

“As a result of the strong third quarter performance and our expectations for the remainder of the year, we are raising our adjusted earnings per share expectations for the full year to a range of $3.60 to $3.70 1.

“Our strong fiscal 2013 performance, driven by the progress we are making on our MOVE initiatives, gives us confidence as we strive to reach our fiscal 2015 earnings per share target range of $4.00 to $4.50, in spite of the expected decline in our defense business in fiscal 2014,” added Szews.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs