Group 1 - Oshkosh (NYSE: OSK) is an American manufacturer of heavy equipment, primarily targeting municipal and military customers [1] - The company has a strong backlog due to a significant contract win from the USPS (US Postal Service), despite losing the JLTV (Joint Light Tactical Vehicle) contract [1] Group 2 - The article highlights the experience and background of Benjamin Halliburton, the founder of Building Benjamins and Tradition Investment Management, emphasizing his successful investment career and accolades [1]

Core Insights - Oshkosh reported Q2 2024 adjusted earnings of $3.34 per share, exceeding the Zacks Consensus Estimate of $3, and up from $2.69 in the previous year [2] - Consolidated net sales increased by 18% year over year to $2.85 billion, surpassing the Zacks Consensus Estimate of $2.77 billion [2] Segment Performance - **Access Segment**: Net sales rose 5.9% year over year to $1.41 billion, exceeding the Zacks Consensus Estimate of $1.39 billion. Operating income increased by 16.4% to $246.5 million, accounting for 17.5% of sales, surpassing the estimate of $200 million [3] - **Defense Segment**: Net revenues increased by 20.2% year over year to $598.7 million, exceeding the Zacks Consensus Estimate of $555 million. However, the segment incurred an operating loss of $39.9 million, contrasting with the expected operating income of $5.59 million due to intangible asset impairments [4] - **Vocational Segment**: Net sales climbed 43.5% year over year to $843.1 million, surpassing the Zacks Consensus Estimate of $811 million. Operating income surged 76% to $106.5 million, accounting for 12.6% of sales, exceeding the estimate of $88 million [5] Financial Overview - As of June 30, 2024, Oshkosh had cash and cash equivalents of $141.4 million, up from $125.4 million as of December 31, 2023. Long-term debt increased slightly to $599.1 million from $597.5 million [6] - The company declared a quarterly cash dividend of 46 cents per share, payable on August 30, 2024, to shareholders of record as of August 16, 2024 [6] Revised Guidance - Oshkosh anticipates full-year 2024 sales to be around $10.7 billion and adjusted earnings per share to be $11.75, up from the previous guidance of $11.25 [7] Market Sentiment - There has been an upward trend in estimates revision for Oshkosh, with a current VGM Score of C, indicating a subpar Growth Score of D and a Momentum Score of D, but a strong Value Score of B [8] - The stock has a Zacks Rank 3 (Hold), suggesting an expectation of in-line return in the coming months [9] Industry Context - Oshkosh operates within the Zacks Automotive - Original Equipment industry, where another player, Gentex, has seen a 1.9% gain over the past month. Gentex reported revenues of $572.93 million, reflecting a year-over-year decline of 1.8% [10]

Shares of Oshkosh Corporation (OSK) have lost 9.6% since it reported second-quarter 2024 results. It reported adjusted earnings of $3.34 per share, beating the Zacks Consensus Estimate of $3. The bottom line also rose from $2.69 recorded in the year-ago period. Consolidated net sales climbed 18% year over year to $2.85 billion. The top line also surpassed the Zacks Consensus Estimate of $2.77 billion. Segmental Details Access: The segment's net sales rose 5.9% year over year to $1.41 billion and surpassed t ...

Oshkosh Corporation (OSK) is set to benefit from a solid backlog, JBT's AeroTech business acquisition and ongoing support for defense programs. However, rising capital spending and high ramp-up costs remain a concern. Let's find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment. Solid Backlog & Acquisitions to Aid Frequent business wins and a comprehensive offering of innovative new products are driving Oshkosh's order book. At the end of March 2024, the consolidated backlog rose to $ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 1-31371 Oshkosh Corporation (Exact name of registrant as specified in its charter) Wisconsin 39-0520270 (State or other jurisdiction of incorporation or organi ...

Financial Data and Key Metrics Changes - The company reported a revenue growth of 18% year-over-year, reaching $2.85 billion for Q2 2024, with adjusted EPS of $3.34 compared to $2.74 in the prior year [6][16][17] - Adjusted operating income increased by 36% to $328 million, resulting in an adjusted operating margin of 11.5%, a 150 basis point improvement [6][16] - The company raised its full-year adjusted EPS outlook to a range of $11.75 per share, up from the previous estimate of $11.25 [7][18] Business Line Data and Key Metrics Changes - The Access segment achieved a revenue growth of 6% with an adjusted operating margin of 17.7%, driven primarily by North America [8][9] - The Defense segment is ramping up production of the Next Generation Delivery Vehicles (NGDVs) and expects strong revenue growth in 2026, offsetting declines in JLTV revenue [10][11] - The Vocational segment saw an organic revenue growth of 11% and a total revenue growth of 44%, with an adjusted operating margin of 14.1% [12][13] Market Data and Key Metrics Changes - The company has a backlog of $3.3 billion, which is expected to support typical ordering patterns returning in Q4 2024 [9][47] - The Access equipment market in North America is anticipated to remain stable in 2025, supported by ongoing infrastructure investments and megaprojects [9][21] Company Strategy and Development Direction - The company is focused on its "Innovate, Serve, Advance" strategy, which aims to drive profitable growth and shareholder returns through investments in market-leading products and technologies [5][6] - The acquisition of AUSA, a European manufacturer of specialty equipment, is expected to enhance the company's ability to serve customers and drive targeted growth [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver solid performance despite potential market challenges, emphasizing a focus on resiliency and sustainability [21][34] - The company anticipates that the NGDV program will significantly contribute to growth, with expectations for revenue to exceed the decline from JLTV in 2025 [11][21] Other Important Information - The company recognized intangible asset impairments of $51.6 million during the quarter due to market conditions at Pratt Miller [16] - The company repurchased approximately 335,000 shares of stock for a total of $39 million during the quarter [17] Q&A Session Summary Question: Access outlook for the second half - Management indicated that customer mix may be less favorable in the second half, but this is viewed as a timing issue rather than a demand change [24][25][26] Question: Vocational segment margin trajectory - Management expects strong margins in the Vocational segment, driven by strong backlogs and pricing dynamics [28][29] Question: Structural margin improvement in Access - Management believes that margin improvements are sustainable and driven by operational efficiencies and innovative manufacturing investments [31][34] Question: Impact of tariffs on European market - Management acknowledged that tariffs on Chinese products entering Europe could impact competitiveness but emphasized their ability to mitigate risks through local production and acquisitions [53][54] Question: Revenue expectations for USPS and JLTV - Management expects NGDV revenue to exceed the decline from JLTV, estimating a gap of over $100 million [56][57] Question: Free cash flow guidance - The company lowered its free cash flow estimate due to higher working capital needs but views this as a temporary situation [71]

Oshkosh (OSK) came out with quarterly earnings of $3.34 per share, beating the Zacks Consensus Estimate of $3 per share. This compares to earnings of $2.69 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 11.33%. A quarter ago, it was expected that this heavy vehicle manufacturer for the military, emergency and commercial companies would post earnings of $2.26 per share when it actually produced earnings of $2.89, delivering a ...

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Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large. One company value investors might notice is Oshkosh (OSK) . OSK is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E r ...