Oshkosh Corp · Q2 2021 earnings

Briefing

Oshkosh Corporation reported strong fiscal second quarter results, exceeding expectations and showing improvements compared to the prior year.

Oshkosh Corporation reported a strong fiscal 2021 second quarter with net sales increasing by 5.1% to $1.89 billion and net income of $99.6 million, or $1.44 per diluted share, compared to $68.6 million, or $0.99 per diluted share, in the second quarter of fiscal 2020. The company expects full year revenues to be in the range of $7.75 billion to $7.95 billion, leading to expected diluted earnings per share of $6.10 to $6.60 or adjusted earnings per share of $6.35 to $6.85.

• Consolidated net sales increased 5.1% to $1.89 billion due to higher Fire & Emergency and Access Equipment segment sales.
• Consolidated operating income increased 5.4% to $140.8 million, or 7.5% of sales.
• The U.S. Postal Service selected Oshkosh to build its Next Generation Delivery Vehicle (NGDV).
• The company expects growth in revenues, operating income and earnings per share in fiscal 2021 compared with last year’s results.

Headline financials

Revenue & EPS history

The Company announced its fiscal 2021 diluted earnings per share estimate range of $6.10 to $6.60 (adjusted earnings per share of $6.35 to $6.85) on projected net sales between $7.75 billion and $7.95 billion. These estimates reflect estimated operating income between $592.5 million and $637.5 million (adjusted operating income of between $610 million and $655 million).