CHICAGO, April 30 Oshkosh Corp on
Tuesday reported a higher quarterly profit and raised its
forecast for the full year as the housing recovery in the United
States prompted builders to buy more of the company's aerial
work platforms, telehandlers and concrete mixers.
The maker of specialty trucks and construction equipment
said higher prices, operational efficiencies and improved
margins boosted quarterly profit.
Oshkosh earned $85.4 million, or 96 cents a share, in its
fiscal second quarter, ended March 31, up from $42.8 million, or
47 cents a share, a year earlier.
Analysts, on average, expected 89 cents a share, according
to Thomson Reuters I/B/E/S.
Sales fell 3.8 percent to $1.98 billion, largely due to
lower sales of tactical vehicles to the military.
Oshkosh raised its full-year profit forecast to a range of
$2.90 to $3.15 a share from a previous estimate of $2.80 to
Oshkosh said sales of its concrete mixers rose to their
highest level in five years, "benefiting mainly from
improvements in the domestic housing market."