Free Research Report as Oshkosh’s Net Sales Jumped 16.6%; Non-GAAP Rocketed 103%

Stock Monitor: Spartan Motors Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 21, 2018 / If you want access to our free earnings report on Oshkosh Corp. (NYSE: OSK), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=OSK. Oshkosh reported its second quarter fiscal 2018 operating and financial results on April 26, 2018. The heavy vehicle manufacturer for the military, emergency, and commercial companies surpassed top- and bottom-line expectations. Additionally, the Company raised its revenue and earnings guidance. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Oshkosh most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

Oshkosh’s consolidated net sales in the second quarter of fiscal 2018 were $1.89 billion, reflecting an increase of 16.6% compared to net sales of $1.62 billion in v. The Company’s reported numbers topped analysts’ estimates of $1.73 billion.

During Q2 FY18, Oshkosh’s consolidated operating income soared 93.9% to $155.9 million, or 8.3% of sales, compared to $80.4 million, or 5.0% of sales, in Q2 FY17. The increase in operating income in the reported quarter was primarily a result of the impact of higher consolidated sales volume, improved performance in the fire & emergency segment, and lower costs related to restructuring actions. The Company’s adjusted operating income was $162.9 million, or 8.6% of sales, in the reported quarter versus adjusted operating income in the year earlier same quarter of $97.6 million, or 6.0% of sales.

Oshkosh reported net income of $110.8 million, or $1.47 per diluted share, in Q2 FY18 compared to $44.3 million, or $0.58 per diluted share, in Q2 FY17. The Company’s reported quarter results included after-tax charges and inefficiencies of $5.8 million associated with restructuring actions in the access equipment and commercial segments.

Oshkosh’s adjusted net income was $116.6 million, or $1.54 per diluted share, in Q2 FY18, compared to $58.0 million, or $0.76 per diluted share, in Q2 FY17. The Company’s adjusted earnings surpassed Wall Street’s estimates of $1.08 per share.

Oshkosh’s Segment Results

During Q2 FY18, the Access equipment segment’s net sales surged 28.3% to $927.9 million compared to $723.2 million, driven by improved demand for both aerial work platforms and telehandlers. The segment’s operating income increased 132.1% to $97.7 million, or 10.5% of sales, in Q2 FY18 compared to $42.1 million, or 5.8% of sales, in Q2 FY17. The Access equipment segment’s adjusted operating income was $102.9 million, or 11.1% of sales, in the reported quarter, compared to $59.3 million, or 8.2% in the prior year’s corresponding quarter. The increase in adjusted operating income in Q2 FY18 was primarily due to the impact of higher sales volume, the recognition of deferred margin upon the receipt of cash and improved price realization.

For Q2 FY18, the Defense segment’s net sales fell 4.0% to $428.2 million compared to $446.1 million in Q2 FY17. The decrease in sales was due to the absence of international Mine Resistant Ambush Protected-All Terrain Vehicle (M-ATV) sales in the reported quarter, largely offset by the continued ramp up of sales to the US government under the Joint Light Tactical Vehicle (JLTV) program.

The Defense segment’s operating income declined 1.8% to $47.8 million, or 11.2% of sales, in Q2 FY18 compared to $48.7 million, or 10.9% of sales, in Q2 FY17. The decrease in operating income was due to the impact of lower sales volume and an adverse product mix.

The Fire & emergency segment’s net sales Oshkosh’s increased 15.0% to $273.1 million Oshkosh’s compared to $237.5 million in Q2 FY17, driven by higher sales of fire apparatus sales and improved pricing. The segment’s operating income soared 65.1% to $36.0 million, or 13.2% of sales, in the upcoming quarter compared to $21.8 million, or 9.2% of sales, in the year earlier comparable quarter. The increase in operating income was a result of improved pricing, the impact of higher sales volume, and improved manufacturing performance.

During Q2 FY18, the Commercial segment’s net sales surged 22.2% to $263.9 million compared to $216.0 million in Q2 FY17. The increase in sales was primarily due to higher refuse collection vehicle unit volume. In the reported quarter, the Commercial segment’s operating income soared 173.3% to $16.4 million, or 6.2% of sales, compared to $6.0 million, or 2.8% of sales, in the prior year’s same quarter. Excluding restructuring-related charges of $1.8 million, the segment’s adjusted operating income in Q2 FY18 was $18.2 million, or 6.9% of sales. The increase in operating income was largely a result of the impact of higher sales volume, improved product mix, and lower warranty costs.

Outlook

Oshkosh raised its full-year fiscal 2018 earnings estimate range to $5.10 to $5.55 per share and its adjusted earnings in the band to $5.40 to $5.85 per share compared to the prior adjusted diluted earnings estimated range of $5.00 to $5.45 per share. The Company also raised consolidated sales to be $7.4 billion to $7.6 billion, an increase of $300 million from the Company’s previous sales estimate range of $7.1 billion to $7.3 billion.

Stock Performance Snapshot

May 18, 2018 – At Friday’s closing bell, Oshkosh’s stock slightly climbed 0.94%, ending the trading session at $77.20.

Volume traded for the day: 539.50 thousand shares.

Stock performance in the past twelve-month period – up 23.62%

After last Friday’s close, Oshkosh’s market cap was at $5.65 billion.

Price to Earnings (P/E) ratio was at 15.30.

The stock has a dividend yield of 1.24%.

The stock is part of the Consumer Goods sector, categorized under the Trucks & Other Vehicles industry.

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