Oshkosh Q3 Profit Rises; Lifts FY13 Profit View - Quick Facts

(RTTNews) - Oshkosh Corp. (OSK) reported fiscal 2013 third quarter income available to common shareholders of $147.5 million or $1.67 per share, up from $76.9 million, or $0.82 per share, in the third quarter of fiscal 2012.

Net sales in the third quarter of fiscal 2013 were $2.20 billion, up from $2.16 billion in the prior year third quarter. Higher sales in the Company's access equipment segment were largely offset by an expected decline in defense segment sales.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.08 per share and revenues of $2.10 billion for the third-quarter. Analysts' estimates typically exclude special items.

The company raised its outlook for full-year fiscal 2013 adjusted earnings from continuing operations to a range of $3.60 - $3.70 per share. This estimate excludes costs of $0.11 per share (net of tax benefit) incurred in the first quarter of fiscal 2013 related to a tender offer for the Company's common stock and threatened proxy contest. Earlier, the company had expected earnings to be in the range of $2.90 - $3.15 per share. Analysts expect the company to report earnings of $3.15 per share for fiscal 2013.

"Our strong fiscal 2013 performance, driven by the progress we are making on our MOVE initiatives, gives us confidence as we strive to reach our fiscal 2015 earnings per share target range of $4.00 to $4.50, in spite of the expected decline in our defense business in fiscal 2014," said Charles Szews, chief executive officer.