Oshkosh Q4 Results Top Estimates; Boosts Dividend 12% - Quick Facts

(RTTNews) - Oshkosh Corp. (OSK) reported on Thursday that net income for the fourth quarter declined to $89.7 million or $1.30 per share from $100.0 million or $1.46 per share in the prior-year quarter. Excluding items, adjusted net income was $1.05 per share, compared to $1.30 per share in the year-ago quarter.

Consolidated net sales for the quarter increased 15.6 percent to $2.06 billion, largely as a result of a rebound in demand in the Access Equipment segment in North America.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share on net sales of $1.87 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company noted that it is not providing guidance for the October through December Stub Period, due to uncertainty caused by ongoing supply chain disruptions.

The company added that it is aggressively managing operations and working with suppliers and customers as it deals with the supply chain environment, which it believes will remain choppy well into fiscal 2022.

The Company's Board of Directors also declared a 12 percent higher quarterly cash dividend of $0.37 per share of Common Stock, payable on November 29, 2021 to shareholders of record as of November 15, 2021.

In October 2021, the Company's Board of Directors approved a change in its fiscal year end from September 30 to December 31.