Oshkosh Corp. (OSK) rises as strong demand provides solid 2024 visibility

Oshkosh Corp. (NYSE: OSK) shares jumped Tuesday on the back of its second-quarter earnings and revenue beat.

The industrial company reported Q2 EPS of $2.69, $1.06 better than the analyst estimate of $1.63, while revenue for the quarter came in at $2.41 billion versus the consensus estimate of $2.24 billion.

OSK shares are currently up more than 8% on the day at $99.77 per share. Earlier in the session, they touched a high of over $102.

The company said robust demand and strong orders have led to a backlog of $15 billion, providing the company with solid visibility into 2024.

“We are pleased with our strong financial performance in the quarter, highlighted by significant growth in sales and operating income,” said John Pfeifer, president and chief executive officer of Oshkosh Corporation.

Looking ahead, the company sees FY2023 earnings of $8 per share, above the consensus of $6.12, while revenue is expected to be around $9.5 billion, versus the consensus of $8.73 billion.

By Sam Boughedda

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