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Mar 31, 2022
Oshkosh Q1 2022 Earnings Report
Oshkosh reported a net loss and experienced a decrease in operating income due to higher material and manufacturing costs, but sales increased due to improved pricing.
Key Takeaways
Oshkosh Corporation reported a net loss of $2.1 million for Q1 2022, with sales increasing by 3.0% to $1.95 billion. The company faced challenges including higher material & logistics costs, supply chain disruptions and workforce turnover.
Net loss of $2.1 million, or $0.03 per diluted share, compared to net income of $99.6 million, or $1.44 per diluted share, for the three months ended March 31, 2021.
Consolidated sales increased 3.0 percent to $1.95 billion due to improved pricing and increased product content.
Operating income decreased 79.2 percent to $29.3 million, or 1.5 percent of sales.
All-time record backlog of over $12 billion at quarter end.
Revenue by Segment
Forward Guidance
Oshkosh Corporation lowered its fiscal 2022 outlook for earnings per share to a range of $4.75 to $5.75 or adjusted earnings per share of $5.00 to $6.00.
Positive Outlook
- Extremely strong demand and high order rates across business segments
- All-time record backlog of over $12 billion at quarter end
- First order from the U.S. Postal Service for its new Next Generation Delivery Vehicle (NGDV)
- Acquisition of CartSeeker™, an autonomous technology that utilizes artificial intelligence-based recognition systems to enhance refuse collection services
- Confident in ability to grow revenues and earnings as navigate headwinds and deliver on orders in significant backlog
Challenges Ahead
- Inflation
- Increased commodity and freight costs
- Supply chain disruptions intensified by recent COVID lockdowns in China
Historical Earnings Impact
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Avg. Return Before/After Earnings
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