Oshkosh Q3 Results Miss Estimates, But Reaffirms FY22 Outlook
(RTTNews) - Oshkosh Corp. (OSK) reported on Thursday that net income for the third quarter declined to $59.3 million or $0.90 per share from $89.7 million or $1.30 per share in the prior-year quarter. Excluding items, adjusted net income was $1.00 per share, compared to $1.05 per share in the year-ago quarter.
Consolidated net sales for the quarter edged up 0.2 percent to $2.07 billion from last year, as improved pricing was largely offset by lower sales volume resulting primarily from supply chain related production delays.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.23 per share on net sales of $2.26 billion for the quarter. Analysts' estimates typically exclude special items.
The Company's Board of Directors also declared a quarterly cash dividend of $0.37 per share of Common Stock, payable on November 28, 2022 to shareholders of record as of November 14, 2022.
Looking ahead, the company is reaffirming its full-year 2022 guidance for adjusted earnings of $3.50 per share on net sales of $8.3 billion. The Street is looking for earnings of $3.64 per share on net sales of $8.29 billion for the year.
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