Oshkosh Q4 Profit Declines, But Results Beat View; Hikes Dividend - Quick Facts

(RTTNews) - Oshkosh Corp. (OSK) on Thursday reported fourth-quarter net income of $100.0 million or $1.46 per share, down from $150.0 million or $2.17 per share in the year-ago period.

Adjusted earnings for the quarter were $1.30 per share, compared to $2.17 per share in the prior-year period.

Consolidated net sales in the quarter decreased 18.7 percent to $1.78 billion from $2.20 billion, reflecting a 39 percent decrease in sales in the Access Equipment segment as the COVID-19 pandemic continued to impact demand in this segment.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.09 per share for the quarter on revenues of $1.66 billion. Analysts' estimates typically exclude special items.

Oshkosh said its board of directors declared a quarterly cash dividend of $0.33 per share of common Stock. The dividend, increased by 10 percent from the previous dividend, will be payable on November 30, 2020, to shareholders of record as of November 16, 2020.