- Sales boosted by strong demand in defense, emergency vehicles
- Company exceeds quarterly estimates, raises full-year outlook
Oshkosh Corp. rose the most in three months after the maker of emergency, commercial and military trucks posted fiscal third-quarter results that beat analysts’ estimates and increased its full-year forecasts for sales and profit.
The shares climbed 6.6 percent to $52 at 10:37 a.m. in New York after gaining as much as 6.8 percent, the most intraday since April 28. They were up 25 percent this year through Wednesday.
Oshkosh benefited from higher sales, earnings and profit margins for defense and for fire and emergency equipment, according to a statement Thursday. The company reported earnings of $1.13 a share and sales of $1.75 billion for the quarter ended June 30, compared with average estimates of $1 a share and $1.61 billion compiled by Bloomberg.
The truck maker raised its full-year profit forecasts to $2.60 to $2.80 a share, from $2.30 to $2.70 in April. Oshkosh also boosted its sales outlook to $6 billion to $6.1 billion, from $5.7 billion to $6 billion.