Oshkosh Q3 Net Profit Plunges - Quick Facts

(RTTNews) - Oshkosh Corp. (OSK), a maker of trucks and hauling tanks for the defense sector, reported a fall in third-quarter earnings, as defense sales tumbled and operating costs escalated.

The company also narrowed its annual adjusted earnings guidance range of $3.40 to $3.55. Oshkosh said it expects sales of around $6.70 billion to $6.75 billion for the fiscal year.

For the June quarter, net earnings were $104.7 million, or $1.22 per share, down from $147.8 million, or $1.67 per share a year earlier.

Excluding certain items, earnings totaled $105.7 million or $1.23 per share.

On average, sixteen analysts polled by Thomson-Reuters estimated the company's earnings to be $1.37 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales declined to $1.93 billion, from $2.20 billion in the same period last year. Analysts expected sales $1.92 billion.

Access equipment segment sales increased 10.4 percent to $1.04 billion, while defense sales fell by 46.5 percent to $470.7 million.

The board recommended a quarterly cash dividend of $0.15 per share, payable on August 28 to shareholders of record on August 14.