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Oshkosh Shares Rise on Improved Outlook for Year: Chicago Mover

July 26, 2012

Oshkosh Shares Rise on Improved Outlook for Year

Oshkosh Corp. , the U.S. military’s biggest supplier of blast-resistant trucks, rose the most in more than a year. Source: Oshkosh via Bloomberg News

Oshkosh Corp. (OSK:US), the U.S. military’s biggest supplier of blast-resistant trucks, rose the most in almost three years after reporting third-quarter profit that beat analysts’ estimates and raising its full-year forecast.

Shares of Oshkosh, based in the Wisconsin city of the same name, rose 15 percent to $22.63 in New York trading. It was the biggest increase since Aug. 27, 2009.

Oshkosh today reported third-quarter profit from continuing operations of 75 cents a share, compared with analysts’ estimates (OSK:US) of 54 cents a share.

Sales of access, or construction, equipment helped boost the company’s performance in the quarter.

“Margin improvement was particularly strong in the access equipment and commercial segments due in part to our continuing efforts to reduce our product, process and overhead costs,” Chief Executive Officer Charles Szews said in a statement.

The company said it expects sales in the segment will be 40 percent higher in fiscal 2012.

To contact the reporter on this story: Brendan McGarry in Washington at bmcgarry2@bloomberg.net

To contact the editor responsible for this story: Stephanie Stoughton at sstoughton@bloomberg.net


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Companies Mentioned

  • OSK
    (Oshkosh Corp)
    • $46.96 USD
    • -0.25
    • -0.53%
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