Specialty vehicles contractor Oshkosh (NYSE: OSK) will be announcing earnings results this Friday morning. Here’s what investors should know.
Oshkosh missed analysts’ revenue expectations by 4.5% last quarter, reporting revenues of $2.31 billion, down 9.1% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.
Is Oshkosh a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Oshkosh’s revenue to decline 4.7% year on year to $2.71 billion, a reversal from the 18% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.95 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Oshkosh has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Oshkosh’s peers in the heavy transportation equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Greenbrier delivered year-on-year revenue growth of 2.7%, beating analysts’ expectations by 7.3%, and PACCAR reported a revenue decline of 15.7%, topping estimates by 2.6%. Greenbrier traded up 21.1% following the results while PACCAR was also up 8.9%.
Read our full analysis of Greenbrier’s results here and PACCAR’s results here.
There has been positive sentiment among investors in the heavy transportation equipment segment, with share prices up 2.7% on average over the last month. Oshkosh is up 4.1% during the same time and is heading into earnings with an average analyst price target of $129.99 (compared to the current share price of $122.95).
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