Oshkosh Reports $1.19 Billion 2Q Loss
Specialty truck maker Oshkosh Corp. said Thursday it lost $1.19 billion, or $16.02 per share, in its fiscal second quarter, compared with a profit of $72.6 million, or 97 cents, a year ago.
Sales fell to $1.3 billion, from $1.8 billion last year, for the quarter ended March 31, the company said in a statement.
The loss included previously announced impairment charges of $1.2 billion, or $15.78 per share, Oshkosh said.
Commercial segment sales fell 24.7% to $188.9 million, due to a 60% decline in sales of concrete placement products as a result of lower construction activity in North America, the company said in a statement.