Oshkosh Posts Second-Quarter Profit

Oshkosh Corp. said Thursday it turned a profit in its fiscal second quarter on higher military orders, compared with a big loss a year ago.

The specialty truck maker’s net earnings were $292.6 million, or $3.22 a share, compared with a loss of $1.18 billion, or $15.86 per share, a year ago that included a big impairment charge.

The loss from continuing operations a year ago was 20 cents per share.

Sales rose 130% to $2.9 billion for the quarter ended March 31, with military sales soaring 285%, to $2.27 billion, Oshkosh said.

Commercial segment sales rose 3.7% to $145.9 million, due to increased intersegment production of heavy tactical vehicle components for the defense segment.

An increase in sales of concrete placement products of 14% was offset by a 10% decrease in domestic refuse collection vehicle sales, Oshkosh said.