Oshkosh reports Q1 adjusted EPS 85c, consensus $1.04

Reports Q1 revenue $2.32B, consensus $2.29B. “We delivered first quarter adjusted earnings per share of $0.85 reflecting lower results in our Access and Vocational segments compared with last year,” said John Pfeifer, president and chief executive officer of Oshkosh (OSK) Corporation. “While fire truck production improved year-over-year, deliveries were below our expectations, driven in part by weather- and travel-related disruptions. “In Access, lower results reflected adverse sales mix and unfavorable price-cost dynamics. We saw strong order activity and solid demand in the segment, supported by mega projects, including data center-related construction. Our Transport segment performed in line with our expectations as we continue to ramp NGDV production and execute on our defense portfolio. “Importantly, demand across our segments remains solid and we have good visibility for the remainder of the year. We are maintaining our full-year expectation of adjusted earnings per share in the range of $11.50,” added Pfeifer.