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Sales from the Access Equipment segment increased 22.7% Y/Y, the Defense segment fell 20.2%, and Fire & Emergency declined 26.8%.
Gross margin for the quarter remained flat at 13.5%. Operating margin was 5.2%, and operating income for the quarter rose 3% to $107.3 million.
The company held $474.8 million in cash and equivalents as of September 30, 2022. Net cash provided by operating activities for nine months totaled $138.3 million.
Adjusted EPS of $1.00 missed the analyst consensus of $1.21.
“Supply chain disruptions remain our most significant challenge and continue to limit our production rates and contribute to manufacturing inefficiencies,” said CEO John C. Pfeifer.
The company’s Board declared a quarterly cash dividend of $0.37 per share, payable on November 28, 2022, to shareholders of record as of November 14, 2022.
Outlook: OSK said it continues to expect FY22 adjusted EPS of $3.50, below the consensus of $3.64.
The company reaffirmed its revenue expectation of $8.3 billion versus the Street view of $8.29 billion.
Price Action: OSK shares are trading higher by 1.80% at $86.54 on the last check Thursday.
