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 ...

Core Viewpoint - Oshkosh Corporation (OSK) is positioned to benefit from a strong backlog, strategic acquisitions, and ongoing defense program support, despite concerns over rising capital expenditures and high ramp-up costs [1] Group 1: Backlog and Acquisitions - Oshkosh's consolidated backlog increased to $15.37 billion as of March 2024, up from $14.97 billion a year earlier, with significant contributions from Access Equipment ($3.26 billion), Defense ($6.43 billion), and Vocational ($5.68 billion) segments [2] - The acquisition of JBT's AeroTech business in August 2023 has allowed Oshkosh to enter the air transportation support market, enhancing aftermarket parts and services through a recurring revenue model [3] - The acquisition of Hinowa in January 2023 has expanded Oshkosh's manufacturing capabilities in Europe and accelerated electrification efforts, while previous acquisitions like CartSeeker Technology and a minority investment in Robotics are expected to enhance long-term growth [4] Group 2: Financial Performance and Guidance - Adjusted operating margin forecasts for Access Equipment and Vocational segments have improved, with expected margins of 16.5% and 12.75% respectively, driven by favorable sales mix and better manufacturing efficiencies [5] - Oshkosh's total debt-to-capital ratio is 0.13, significantly lower than the auto sector's 0.57, providing financial flexibility for growth opportunities [6] - The company raised its 2024 guidance, expecting adjusted operating income of approximately $1.14 billion and adjusted EPS of $11.75, an increase from previous projections [10] Group 3: Defense Segment and Market Demand - The Defense segment is entering a critical year in 2024 with the transition to the Next Generation Delivery Vehicle (NGDV) for the U.S. Postal Service, anticipating increased vehicle production through 2025 [7] - Ongoing support for various defense programs and modernization efforts are expected to drive top-line growth in the Defense segment [7] - The demand for aerial work platforms and telehandlers remains strong due to infrastructure investments and industrial onshoring initiatives, prompting Oshkosh to expand capacity across its operations [8][9] Group 4: Capital Expenditures and Challenges - Oshkosh anticipates 2024 capital expenditures to remain high at around $300 million, primarily for the NGDV facility and new product development [12] - Significant ramp-up costs associated with NGDV production are expected to impact near-term profitability, particularly in the Defense segment [12]

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 ...

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 ...

Core Viewpoint - The analysis compares two automotive stocks, Oshkosh (OSK) and Ferrari (RACE), to determine which presents a better value opportunity for investors [5]. Valuation Metrics - OSK has a forward P/E ratio of 9.65, significantly lower than RACE's forward P/E of 50.10, indicating OSK may be undervalued [4]. - The PEG ratio for OSK is 1.05, while RACE's PEG ratio is 4.98, suggesting OSK has a more favorable growth outlook relative to its valuation [4]. - OSK's P/B ratio is 1.84, compared to RACE's P/B of 27.69, further indicating OSK's relative undervaluation [9]. Earnings Outlook - OSK is noted for its improving earnings outlook, which enhances its attractiveness in the Zacks Rank model, where it holds a 1 (Strong Buy) rating [7][8]. - In contrast, RACE has a Zacks Rank of 3 (Hold), indicating a less favorable earnings revision trend [8]. Investment Strategy - The best approach to identify value stocks is to combine a strong Zacks Rank with a solid Value grade from the Style Scores system, which highlights companies with specific traits [3]. - OSK has earned a Value grade of B, while RACE has a Value grade of C, further supporting the argument for OSK as the superior value option [2].

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years. OSK currently has a forward P/E ratio of 10.44, while RACE has a forward P/E of 50.74. We also note that OSK has a PEG ratio of 1.23. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's ...

Based on the most recent data, OSK has returned 6.7% so far this year. Meanwhile, stocks in the Auto-Tires- Trucks group have lost about 15.5% on average. This shows that Oshkosh is outperforming its peers so far this year. One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is AB Volvo (VLVLY) . The stock is up 2% year-to-date. In AB Volvo's case, the consensus EPS estimate for the current year increased 6.2% over the past three months. The stock currently has a Zacks Rank # ...