Core Viewpoint - Oshkosh (OSK) is anticipated to report a year-over-year decline in earnings due to lower revenues, with the consensus outlook indicating a significant impact on its near-term stock price based on actual results compared to estimates [1][2]. Earnings Expectations - The upcoming earnings report is expected to be released on August 1, with a consensus EPS estimate of $2.98, reflecting a year-over-year decrease of 10.8%. Revenues are projected to be $2.65 billion, down 7% from the previous year [3][2]. - The consensus EPS estimate has been revised down by 1.44% over the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4][12]. Earnings Surprise Prediction - The Most Accurate Estimate for Oshkosh is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.91%. The stock currently holds a Zacks Rank of 3, making it challenging to predict a beat on the consensus EPS estimate [12]. - Historical performance shows that Oshkosh has beaten consensus EPS estimates three times in the last four quarters, although it missed the last quarter's estimate by 4.95% [13][14]. Comparison with Industry Peers - Crane (CR), another player in the Zacks Manufacturing - General Industrial industry, is expected to post earnings of $1.34 per share for the same quarter, indicating a year-over-year increase of 3.1%. Revenues are expected to be $569.56 million, down 2% from the previous year [19]. - Crane's consensus EPS estimate has been revised up by 0.4% in the last 30 days, and it has a positive Earnings ESP of +1.87%, combined with a Zacks Rank of 2, suggesting a high likelihood of beating the consensus EPS estimate [20].

Core Insights - Gleim Aviation is redefining pilot training with innovative solutions aimed at enhancing efficiency, preparedness, and safety in aviation education [1][6] Group 1: Innovations in Pilot Training - The Gleim Digital Pilot Examiner™ (Gleim DPE) utilizes artificial intelligence to provide personalized coaching and authentic checkride preparation, enhancing exam readiness [2] - The Career Pilot Training Logbook, developed with expert Jason Blair, features FAA-verified templates and smart checklists to minimize errors and delays in training [3] - The Gleim FE-BATD, now powered by X-Plane 12, allows students to log hours at over 14,000 virtual airports, improving training efficiency regardless of external conditions [4] - The new Cross-Check system offers real-time insights into student progress, enabling instructors to tailor lessons effectively [5] Group 2: Company Vision and Mission - Gleim Aviation's mission focuses on anticipating training challenges and providing practical tools to enhance pilot training, allowing pilots to concentrate on flying [6] - The company emphasizes its commitment to safety, professionalism, and excellence, which is reflected in its extensive range of training resources [8][9]

Core Insights - Pratt & Whitney is showcasing a Boeing 747SP test bed aircraft at EAA AirVenture Oshkosh 2025 as part of its centennial celebration, marking 100 years since its founding in 1925 [1][2] - The event will take place from July 21-27, 2025, at Wittman Regional Airport, attracting over half a million aviation enthusiasts [1][3] - The 747SP, a unique variant of the Boeing 747, is significant for its role in testing advanced propulsion technologies [4][5] Company Highlights - Pratt & Whitney has a rich history in aviation, having started operations with the R-1340 Wasp engine, which transformed military and commercial aviation [3] - The company has been a consistent exhibitor at EAA AirVenture for over 15 years, emphasizing its commitment to connecting with the aviation community [4] - Pratt & Whitney Canada, a subsidiary founded in 1928, has a notable presence in general aviation, with its PT6 engine logging over 500 million flying hours [4] Aircraft Details - The Boeing 747SP is a shortened version of the 747, featuring a longer range and powered by four Pratt & Whitney JT9D engines, with only 45 units produced [5] - The test bed variant includes a fifth engine mount for real-world testing of various experimental engines, having completed over 1,400 ground runs and flight tests since 2001 [5] Event Information - RTX's booth at EAA AirVenture will also feature Pratt & Whitney Canada's PT6 engine cutaways and Collins Aerospace technologies [6] - EAA AirVenture Oshkosh is recognized as "The World's Greatest Aviation Celebration," providing a platform for aviation enthusiasts to engage with industry leaders [7]

Summary of Oshkosh Corporation 2025 Investor Day Company Overview - **Company**: Oshkosh Corporation (OSK) - **Industry**: Industrial Technology - **Market Position**: Publicly traded with a market capitalization of approximately $11 billion, listed on the Fortune 500 list [doc id='17'] Core Points and Arguments Strategic Focus - **Vision**: Oshkosh aims to grow revenue, improve margins, and deliver shareholder value through innovation, culture, and disciplined execution [doc id='2'] - **Key Takeaways**: Strong revenue growth projected through 2028 and transformative margin expansion [doc id='14'] - **Backlog**: Existing backlog in vocational and transport segments is a major driver for top-line growth [doc id='14] Financial Performance - **Past Achievements**: Successfully met ambitious targets for top line, operating income, and earnings per share one year early [doc id='11'] - **Future Projections**: Expected revenue generation of $19 billion from a $3.1 billion investment in innovation and product development from 2022 to 2028 [doc id='101'] Innovation and Technology - **Core Technologies**: Focus on electrification, autonomy, and intelligent connected products [doc id='75'] - **Patents**: Over 1,300 patents, with a strong emphasis on electrification, autonomy, and connectivity [doc id='78'] - **Recognition**: Ranked as the number two company in the automotive sector for patent power by IEEE [doc id='79'] Market Segments - **Defense Segment Renaming**: The Defense segment has been renamed to Transport to better reflect its business focus [doc id='5'] - **Key Segments**: - **Access Segment**: Focus on resilience and performance [doc id='7'] - **Vocational Segment**: Addressing strong demand and capacity [doc id='7'] Customer-Centric Approach - **Voice of the Customer**: Innovations are driven by understanding customer needs and pain points [doc id='80'] - **Lifecycle Support**: Commitment to supporting customers throughout the entire product lifecycle, generating stable, high-margin, recurring revenue streams [doc id='60] Future Vision - **Airport of the Future**: Automation and connectivity to improve efficiency and reduce delays [doc id='33'] - **Neighborhood of the Future**: Focus on safety, comfort, and productivity for operators [doc id='36'] - **Job Site of the Future**: Enhanced connectivity and productivity through intelligent systems [doc id='40'] Additional Important Content - **Cultural Values**: Emphasis on making a difference in the lives of everyday heroes who serve communities [doc id='19'] - **Competitive Advantages**: Strong brand recognition, advanced manufacturing capabilities, and a talented workforce [doc id='46'][doc id='49'][doc id='51'] - **Investment in Innovation**: Commitment to significant investment in technology and product development to drive future growth [doc id='101] This summary encapsulates the key points discussed during the Oshkosh Corporation 2025 Investor Day, highlighting the company's strategic focus, financial performance, innovation, market segments, customer-centric approach, and future vision.

Company Strategy & Overview - Oshkosh's 2024 revenue reached $107 billion[65] - The company is focused on transforming into an industrial technology company, leveraging advanced technologies to extend market leadership[28, 30] - A key strategy is "Innovate Serve Advance," which involves developing safe solutions, supporting the installed base, and expanding into adjacent markets[56, 59, 62] Technology & Innovation - The company has a significant intellectual property portfolio with ~1,300 active patents, including 570+ electrification patents and applications[78] - Oshkosh is focused on electrification, autonomy and active safety, and intelligent products, powered by AI[73] - The company is targeting a vitality index increase from 13% in 2022 to 33% in 2028, driven by new product innovation[125] Segment Performance & Targets - Access segment sales target for 2028 is ~$53-58 billion with an adjusted operating margin of ~14-16%[183] - Transport segment sales target for 2028 is ~$23 billion with an adjusted operating margin of ~4%[245] - Vocational segment sales target for 2028 is ~$38 billion with an adjusted operating margin of ~16%[289]

Company Overview - Oshkosh Corporation (NYSE: OSK) is a prominent manufacturer of purpose-built trucks, defense-grade vehicles, and machinery, playing a crucial role in supplying tactical wheeled vehicles to the U.S. Army and allied militaries [2]. Industry Context - The aerospace, defense, and airline industry presents significant growth prospects, with a focus on discovering investment opportunities within this sector [2]. Analyst Background - The analysis is conducted by an individual with a background in aerospace engineering, providing context to developments in the industry and their potential impact on investment theses [2].

Company Overview - Oshkosh Corporation, founded in 1913, is a global industrial company headquartered in Wisconsin [1] - The company specializes in heavy machine and equipment manufacturing tailored for specific industrial applications [1] Industry Focus - Oshkosh's products are utilized in various sectors including postal services, firefighting, refuse and recycling collection, construction, aviation, and defense [1]

Investment Rating - The industry investment rating is "Positive" and maintained [11] Core Viewpoints - Overseas companies are actively responding to the impact of US tariffs through various strategies such as inventory preparation, supply chain adjustments, price increases, and internal cost control [10][19] - Different companies are experiencing varying degrees of price adjustments, with Stanley Black & Decker already implementing price increases and expecting further hikes in Q3, while others like Amazon and Rational have yet to raise prices but may need to do so to alleviate cost pressures [10][19] - Companies have generally stocked up on inventory before the tariffs took effect to mitigate cost pressures [10] Summary by Relevant Sections Tools Sector - Stanley Black & Decker plans to mitigate tariff impacts through supply chain adjustments, price increases, and collaboration with the US government. Approximately 15% of its supply chain is from China, and the company aims to adjust this over 12-24 months [17][19] - The company has already raised prices in April 2025 and anticipates further increases in Q3 2025 [17] Aerial Work Platforms - Oshkosh manufactures nearly all its products sold in the US domestically and is using supply chain adjustments and cost control to mitigate tariff impacts. The company reports healthy market demand and order levels [22][23] - Terex's Genie brand sources about 90% of its AWP products from the US and Mexico, and the company is also taking steps to minimize tariff impacts through inventory preparation and supply chain adjustments [28][30] Technology Sector - Apple expects limited impact from tariffs on its Q1 2025 performance, with a projected cost increase of $900 million due to tariffs. The majority of its products sold in the US will be sourced from India and Vietnam [40][41] - Amazon has not seen significant price increases in retail goods but anticipates potential price adjustments in the future to manage costs [44][45] Commercial Kitchen Equipment - Rational's products exported to the US are affected by a 10% additional tariff, but the company is focusing on efficiency improvements to avoid price increases. The company has not yet adjusted prices but may need to pass on some costs [51][52]

Core Insights - Oshkosh Corporation reported weaker-than-expected earnings for Q1, with adjusted earnings of $1.92 per share, missing market estimates of $2.05 per share [1] - Quarterly sales were $2.31 billion, below expectations of $2.41 billion [1] Group 1 - The company expressed satisfaction with its start to 2025, highlighting strong performance in the Vocational segment and double-digit margins in the Access segment [2] - CEO John Pfeifer noted that the results reflect the strength of the team and the resilience of the operating model [2] - Oshkosh shares increased by 3.8% to $86.96 following the earnings announcement [3] Group 2 - Analysts adjusted their price targets for Oshkosh after the earnings report, with Baird maintaining an Outperform rating but lowering the target from $163 to $135 [8] - Truist Securities maintained a Hold rating and reduced the price target from $94 to $93 [8] - JP Morgan kept a Neutral rating and lowered the price target from $100 to $92 [8]

Core Insights - Oshkosh Corporation (OSK) reported first-quarter 2025 adjusted earnings of $1.92 per share, missing the Zacks Consensus Estimate of $2.02, and a decline from $2.89 in the same period last year [1] - Consolidated net sales fell 9.1% year over year to $2.31 billion, also missing the Zacks Consensus Estimate of $2.41 billion [1] Segmental Performance - **Access Segment**: Net sales declined 22.7% year over year to $957.1 million due to lower sales volume in North America and higher discounts, missing the Zacks Consensus Estimate of $993 million. Operating income fell 50.5% to $103.1 million, accounting for 10.8% of sales, also missing the estimate of $114 million [2] - **Defense Segment**: Net revenues declined 9.1% year over year to $463 million due to lower sales of tactical wheeled vehicles, missing the Zacks Consensus Estimate of $519 million. Operating income fell 95.5% year over year to $0.6 million, lagging the estimate of $14.12 million [3] - **Vocational Segment**: Net sales rose 12.2% year over year to $866.8 million, but lagged the Zacks Consensus Estimate of $873 million. Operating income surged 47.1% to $117.8 million, accounting for 13.6% of sales, surpassing the estimate of $115 million [4] Financial Overview - As of March 31, 2025, Oshkosh had cash and cash equivalents of $210.3 million, up from $204.9 million as of December 31, 2024. Long-term debt increased to $1.1 billion from $599.5 million as of December 31, 2024 [4] Dividend Declaration - Oshkosh declared a quarterly cash dividend of 51 cents per share, payable on May 30, 2025, to shareholders of record as of May 16, 2025 [5] 2025 Guidance - The company anticipates full-year 2025 adjusted earnings per share to be $11, with a net negative impact of about $1 per share from tariffs, partially offset by cost reductions of up to 50 cents per share [6] Zacks Rank - Oshkosh currently carries a Zacks Rank 4 (Sell). In comparison, Hesai Group (HSAI) has a Zacks Rank 1 (Strong Buy), and Standard Motor Products, Inc. (SMP) has a Zacks Rank 2 (Buy) [7]