Today, Oshkosh released its 2024 FY earnings, reporting net sales for 2024 of $10.76 billion and a net income of $681.4 million.
The company’s Q4 revenue totaled $2.62 billion, a 6.3% increase from the previous year.
John Pfeifer, President and CEO of Oshkosh Corporation told investors, “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.”
“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.”
Pfeifer said the company will be ramping up producing and delivering its purpose-built Next Generation Delivery Vehicle to “continue to deliver strong results.”
Moving into 2025, “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,” Pfeifer added, “We expect growth for our Vocational and Defense segments in 2025 and we are confident in our team’s ability to navigate through softer market conditions in our Access segment to position Oshkosh Corporation to continue delivering strong results.”
The company has released an adjusted earnings per share expectation for 2025 of approximately $11.00. They also announced a quarterly cash dividend of $0.51 per share, representing a 10.9 percent increase. “This marks the 11th consecutive year in which we have increased our dividend by a double digit percentage,” Pfeifer concluded.
Read our exclusive interview with Wilson R. Jones, CEO of Oshkosh Corporation
By CEO NA Editorial Staff
