News service and business centre for materials handlingHOME

Healthy gains for Oshkosh

Wednesday, 7 Aug 2019 ( #935 ) - Oshkosh, WI, United States
News Story
Wilson Jones
Oshkosh Corporation has reported fiscal 2019 third quarter net income of USD191.9 million – up from USD153.4 million at this time last year.

Consolidated net sales in this third quarter increased by 10% to $2.39 billion.

"Our strong fiscal third quarter performance resulted from increased sales in each of our business segments as well as double-digit growth in operating income in our access equipment and fire and emergency segments," says Wilson R. Jones, president and chief executive. "I’m proud of the hard work and efforts of our team members as they continue to drive higher performance by executing our business strategy and initiatives.

"We were pleased that the US Army moved our revolutionary Joint Light Tactical Vehicle (JLTV) program to full-rate production phase during the quarter. This is an important milestone as the program matures and we continue to ramp up production and delivery of these vehicles over the next several years.

"As a result of our strong execution and improved margin expectations, we are raising our earnings per share expectations for fiscal 2019 to a range of $7.80 to $8.00 or $7.90 to $8.10 on an adjusted earnings per share basis," he adds.

Access equipment segment net sales in the third quarter of fiscal 2019 increased 7.7% to USD1.25 billion, due to increased sales volume and higher pricing in response to increased materials costs. Sales grew in all regions, except EAME, in the third quarter of fiscal 2019.

Defense segment net sales for the third quarter of fiscal 2019 increased 15.5% to USD511.1 million. The increase in sales was due to the continued ramp-up of sales to the US government under the JLTV program, offset, in part, by changes associated with the application of the new revenue recognition standard.

The fire & emergency segment had the biggest increase in net sales for the quarter, up 20.2% percent to USD341.0 million, as a result of changes associated with the application of the new revenue recognition standard, higher fire apparatus sales volume and improved pricing.

In the commercial segment, net sales for the third quarter increased 0.3% to USD296.1 million.
Discuss News stories in the Discussion Forums!
Forkliftaction Media Pty Ltd
PO Box 1439
Milton QLD 4064
About Forkliftaction
The Forkliftaction Team
Privacy Policy
Site Map
Business Directory
Discussion Forums
Industry News
Events Calendar
Jobs & Resumes
Photo Galleries
Blog articles
Our Bloggers

Industry Brands
Company Index
Regions & Countries

Advertise on Forkliftaction
Editorial Features / Calendar
Featured Businesses
Past News Editions
Industry Associations
Storing your login information automatically.

When you select the 'Remember me' option, your login information will be stored on your computer in the form of a cookie. When you visit again, the stored login information will be retrieved automatically and you will not have to submit your login parameters (email address and password) each time you want to visit our members-only pages.

A cookie is a small piece of data that is sent to your browser from a web server and stored on your computer's hard drive. A cookie can't read data off your hard disk or read cookie files created by other sites. Cookies do not damage your system.