Oshkosh reports Q4 EPS $2.58, consensus $2.18

Reports Q4 revenue $2.62B, consensus $2.42B …Consolidated operating income in the fourth quarter of 2024 increased 3.9% to $223.9M , or 8.5 % of sales, compared to $215.4M, or 8.7% of sales, in the fourth quarter of 2023. The increase in operating income was primarily due to higher sales volume and favorable price/cost dynamics, offset partially by the impact of changes in cumulative catch-up adjustments on contracts in the Defense segment. Adjusted operating income in the fourth quarter of 2024 increased 2.3%t to $245.4M, or 9.4% t of sales, compared to $239.9M , or 9.7% of sales, in the fourth quarter of 2023. “We delivered another strong quarter as our team grew fourth quarter adjusted earnings per share to $2.58, leading to full year 2024 adjusted earnings per share of $11.74, an increase of 17.6 percent over the prior year,” said John Pfeifer, president and chief executive officer of Oshkosh (OSK) Corporation. “Our impressive fourth quarter performance was driven in particular by revenue growth of nearly 20 percent in our Vocational segment. For the full year, we grew revenue in all three of our segments and delivered solid double-digit operating income and adjusted operating income margins in our Access and Vocational segments. “In 2024, we began producing and delivering our revolutionary purpose-built Next Generation Delivery Vehicle for the US Postal Service . We are pleased with early feedback we have received from the nation’s postal carriers as they use NGDVs for daily deliveries. We look forward to ramping up this important program to full rate production this year. Our NGDV program as well as excellent visibility with strong backlogs in our Vocational segment give us confidence that Oshkosh can continue to deliver strong results. “Our Access team delivered solid results in the fourth quarter despite moderating demand. We are confident that long-term drivers, including infrastructure buildout, mega projects and data center construction, remain strong for our Access business. We expect short-term market softness in the first half of 2025 followed by improved demand in the second half of the year, which we have factored into our expectations for the Access segment in 2025.