- Oshkosh Corp (NYSE:OSK) reported fourth-quarter FY22 sales growth of 23% year-on-year to $2.20 billion, beating the consensus of $2.18 billion.
- Sales from the Access Equipment segment increased 28.9% Y/Y, Defense segment grew 3%, and Fire & Emergency rose 37.2%.
- Gross margin for the quarter expanded 340 basis points at 14.3%. Operating margin was 6.7%, and operating income for the quarter jumped 253.4% to $147 million.
- Adjusted EPS of $1.60 missed the analyst consensus of $1.73.
- The company held $805.9 million in cash and equivalents as of Dec. 31, 2022. Net cash provided by operating activities for the year totaled $601.3 million.
- “Strong market fundamentals and elevated demand for our products drove high order rates in the quarter and a record backlog of more than $14 billion,” said CEO John C. Pfeifer.
- The company’s Board declared a quarterly cash dividend of $0.41 per share, payable on Mar. 2, 20223, to shareholders of record as of Feb. 16, 2022. The dividend represents an increase of 11% from the previous dividend.
- Outlook: OSK sees FY23 EPS of about $5.50, including an impact of $0.80 per share related to inventive compensation costs returning to typical levels and increased new product development investment of $0.30 per share.
- OSK expects FY23 revenue of about $8.4 billion, against the consensus of $8.6 billion.
- Price Action: OSK shares are trading lower by 1.95% at $98.50 on the last check Tuesday.
RFK Jr. Gains Support Among Voters For 2024 Election, But It’s From The Wrong Party
Lawyer Robert F. Kennedy Jr. is among the candidates running for the president in the 2024 election, seeking to get the Democratic nomination.
A leading national poll shows Kennedy Jr. gaining support, but it comes with a huge catch.
