Oshkosh Corp. Raises 2019 Outlook - Quick Facts

(RTTNews) - Oshkosh Corp. (OSK) reported strong third-quarter performance due to the increased sales in each of the company's business segments as well as double-digit growth in operating income in access equipment and fire & emergency segments. Based on this, the company increased its fiscal 2019 earnings outlook.

For 2019, Oshkosh Corp. now expects adjusted earnings per share to be in the range of $7.90 to $8.10, up from previous guidance range of $7.50 to $7.80. Analysts polled by Thomson Reuters expect the company to report profit per share of $7.68. Analysts' estimates typically exclude special items.

For the third-quarter, net income was $191.9 million, or $2.72 per share, compared to $153.4 million, or $2.05 per share, a year ago. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $2.37, for the quarter.

Third-quarter consolidated net sales increased 10.0 percent to $2.39 billion. Without the adoption of the new revenue recognition standard, net sales would have been $2.37 billion, an increase of 8.8 percent from prior year. Analysts expected revenue of $2.29 billion for the quarter.

The company's Board declared a quarterly cash dividend of $0.27 per share of common stock. The dividend will be payable on September 3, 2019, to shareholders of record as of August 19, 2019.