While the firm outperformed analyst expectations in the second quarter—posting adjusted earnings of $2.87 a share against a projected $2.61—the path toward long-term efficiency remains complicated. Chief Executive John Pfeifer noted that efforts to overhaul fire truck manufacturing are taking longer than anticipated, leading to a more gradual improvement in throughput as new material flow processes are phased in.

Investors appear to be looking past the earnings revision, pushing shares up 5.8% to $163.94 in premarket trading. This optimism is likely fueled by the access equipment segment, which secured $1.5 billion in orders and saw sales climb 9.4% to $1.37 billion. Total net sales for the quarter reached $2.92 billion, comfortably surpassing Wall Street estimates of $2.79 billion, even as the company navigates the persistent inflationary pressures weighing on its bottom line.