UPDATE 3-Oshkosh raises profit outlook on strong first quarter
* Raises FY adj EPS forecast to $2.80-$3.05 from $2.35-$2.60
* First-quarter adj earnings per share $0.60 vs est $0.31
* Defense operating margins better than expected
* Access equipment sales up 15 pct
* Shares soar 17 percent to touch a 3-year high
By Bijoy Anandoth Koyitty
Jan 25 (Reuters) - Oshkosh Corp raised its full-year earnings outlook after its first-quarter profit handily beat analysts' expectations on higher revenue from access equipment products such as aerial work platforms and boom lifts.
Shares of the company rose 17 percent to a three-year high of $40.40 on Friday.
Oshkosh forecast adjusted earnings from continuing operations of $2.80 to $3.05 per share for the year ending September, and said an improving construction market would drive growth in the access equipment business in 2013. Continued...