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Jun 30, 2021
Oshkosh Q3 2021 Earnings Report
Oshkosh reported increased sales and operating income due to higher sales volume and favorable absorption, offset by higher costs.
Key Takeaways
Oshkosh Corporation reported a strong third quarter with net sales increasing by 39.7% to $2.21 billion and net income of $213.9 million, or $3.07 per diluted share. The results were driven by higher sales in all segments and a $69.9 million tax benefit. The company is increasing its fiscal 2021 GAAP earnings per share expectations to a range of $7.15 to $7.30.
Net sales increased 39.7% to $2.21 billion.
Net income was $213.9 million, or $3.07 per diluted share.
Operating income increased 71.8% to $203.8 million.
Increased fiscal 2021 GAAP earnings per share expectations to a range of $7.15 to $7.30 due to a tax benefit.
Revenue by Segment
Forward Guidance
The Company now expects its fiscal 2021 diluted earnings per share to be in a range of $7.15 to $7.30. Excluding the tax benefit associated with the carryback of the U.S. net operating loss to previous tax years, the Company updated its estimated fiscal 2021 adjusted earnings per share to a range of $6.35 to $6.50.
Positive Outlook
- Strong demand across the markets where we compete.
- Growing demand for access equipment.
- Fiscal 2021 diluted earnings per share to be in a range of $7.15 to $7.30.
- Estimated operating income between $595 million and $615 million
- Adjusted operating income of between $610 million and $630 million
Challenges Ahead
- Ongoing supply chain-related challenges
- Supply chain disruption
- Access to labor are presenting a challenge
- Updated its estimated fiscal 2021 adjusted earnings per share to a range of $6.35 to $6.50
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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