Oshkosh Corporation reported unaudited consolidated earnings results for the first quarter ended December 31, 2016. For the quarter, the company reported net income of $19.2 million, or $0.26 per diluted share, compared to $14.6 million, or $0.19 per diluted share, in the first quarter of fiscal 2016. Consolidated net sales in the first quarter of fiscal 2017 were $1.21 billion, a decrease of 3.2%. Decreases in sales in the access equipment and defense segments were offset in part by higher sales in the fire & emergency segment. Consolidated operating income in the first quarter of fiscal 2017 was $36.2 million, or 3.0% of sales, compared to $30.3 million, or 2.4 percent of sales, in the prior year first quarter. The increase in operating
income was primarily the result of improved performance in the access equipment, defense and fire & emergency segments, offset in part by the impact of lower sales volume and lower commercial segment performance.

The company lowered its fiscal 2017 diluted earnings per share estimate range to $2.50 to $2.90 on operating income of $347 million to $387 million. Excluding expected access equipment segment restructuring-related charges, the company reaffirmed its fiscal 2017 adjusted diluted earnings per share estimate range of $3.00 to $3.40 on projected net sales of $6.5 billion to $6.7 billion and adjusted operating income of $390 million to $430 million.