Oshkosh Corp. shares jumped nearly 19% after the maker of trucks and lift equipment raised its fiscal 2013 earnings outlook and reported a strong first quarter profit driven by sales in the construction business.
In heavy trading, Oshkosh shares closed at $41.08, up $6.50.
It followed news that the company had raised its annual 2013 earnings outlook to between $2.80 and $3.05 per share, up from a previous forecast of $2.35 to $2.60. Oshkosh also reported a profit of $46.5 million, or 51 cents per share, for the quarter ended Dec. 31, compared with $38.9 million, or 43 cents, a year earlier.
Sales in the quarter were $1.76 billion, down 6.1% from a year earlier because of a decline in military vehicle business.