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Sep 30, 2021
Oshkosh Q4 2021 Earnings Report
Oshkosh reported mixed results with revenue growth offset by higher costs and supply chain disruptions.
Key Takeaways
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.
Revenue by Segment
Forward Guidance
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.
Positive Outlook
- Strong market fundamentals
- Strategic program wins
- Comprehensive offering of innovative new products
- Long-term growth outlook
Challenges Ahead
- Ongoing supply chain disruptions
- Choppy supply chain environment well into fiscal 2022
- Uncertainty in October through December Stub Period
- Higher input costs
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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