Oshkosh Corp · Q4 2021 earnings

Briefing

Oshkosh reported mixed results with revenue growth offset by higher costs and supply chain disruptions.

Oshkosh Corporation reported a 15.6% increase in fourth-quarter revenue to $2.06 billion, driven by a rebound in demand in the Access Equipment segment in North America. Net income was $89.7 million, or $1.30 per diluted share, compared to $100.0 million, or $1.46 per diluted share, in the fourth quarter of fiscal 2020. The results were affected by higher material and logistics costs, as well as the return of spending related to temporary cost reductions from the prior year.

• Fourth quarter revenue increased by 15.6% due to improved market demand in North America, particularly in the Access Equipment segment.
• Net income for the quarter was $89.7 million, or $1.30 per diluted share, down from $100.0 million, or $1.46 per diluted share, in the same period last year.
• Operating income decreased by 18.2% to $104.2 million, primarily due to higher material and logistics costs and the return of spending related to temporary cost reductions.
• The company anticipates higher prices will largely offset higher costs late in the second quarter of fiscal 2022.

Headline financials

Revenue & EPS history

Due to uncertainty caused by ongoing supply chain disruptions, the company is not providing guidance for its October through December Stub Period. The company believes the supply chain environment will remain choppy well into fiscal 2022.