Oshkosh, Caterpillar Earnings Decline

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Transport Topics / January 27, 2015

Specialty truck maker Oshkosh Corp. reported its fiscal first-quarter profit declined from a year ago, and Caterpillar Inc. said its fourth-quarter income fell.

Oshkosh's net income was $34.7 million, down from $54.9 million.

Revenue for the quarter ended Dec. 31 was $1.35 billion, down 11.6% from the same period last year, the company said Jan. 27.

The Oshkosh, Wisconsin-based company's commercial segment sales rose 9.1% to $210.2 million, while access equipment sales gained 7.2% to $716.7 million.

Fire and emergency sales fell 15.6% to $167 million, and defense sales plunged 44.1% to $269.3 million.

John Sommers II for TT

Oshkosh reaffirmed its projected fiscal-year 2015 adjusted earnings of $4 to $4.25 per share and sales of $6.5 billion to $6.6 billion.

Caterpillar reported its fourth-quarter net income declined to $757 million, from $1.03 billion a year earlier.

Earnings per share for the Peoria, Ill.-based company declined to $1.23 per share, compared with $1.54 a year earlier. Revenue declined to $14.24 billion from $14.4 billion a year earlier.

Caterpillar said it expects full-year 2015 earnings per share of about $4.60 per share, or $4.75 per share excluding restructuring costs.