OSHKOSH, WI (WTAQ) - Wisconsin’s maker of military vehicles has found another way to make money.
The Oshkosh Corporation cites strong sales of commercial construction lifts, in reporting a quarterly profit of $148 million. That’s $1.67 a share for the company’s fiscal third-quarter from April through June, up from 84 cents a share at the same time a year ago.
Sales were up by just over two percent, to $2.2 billion.
Oshkosh has been losing defense business as the wars in Iraq and Afghanistan have been winding down.
The company said its sales of aerial construction platforms, scissor lifts, and telehandlers grew by over 15-and-a-half percent in the last quarter.
The firm said the demand was caused by higher activity from builders and leasing companies.
Oshkosh says it now expects its full-year earnings to be $3.60 to $3.70 a share, up from its previous estimate of $2.90 to $3.15.