Specialty vehicles contractor Oshkosh (NYSE:OSK) will be reporting results tomorrow before the bell. Here’s what to expect.
Oshkosh beat analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $2.85 billion, up 18% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA 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 grow 6.2% year on year to $2.67 billion, slowing from the 21.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.91 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 twice over the last two years.
Looking at Oshkosh’s peers in the heavy transportation equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Douglas Dynamics’s revenues decreased 10.2% year on year, missing analysts’ expectations by 8.4%, and PACCAR reported a revenue decline of 6.4%, topping estimates by 1.4%. PACCAR traded down 5.3% following the results.
Read our full analysis of Douglas Dynamics’s results here and PACCAR’s results here.
Investors in the heavy transportation equipment segment have had steady hands going into earnings, with share prices flat over the last month. Oshkosh is up 9.8% during the same time and is heading into earnings with an average analyst price target of $121.87 (compared to the current share price of $110.02).
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