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Oshkosh (OSK) Q1 Earnings Preview

 January 23, 2013 03:45 PM

(By Balachander) Oshkosh Corp. (NYSE: OSK) is expected to post a 26 percent decline in earnings per share for the first quarter due to lower revenue. The maker of specialty vehicles and vehicle bodies is scheduled to announce its first-quarter results on Friday, January 25.

Wall Street analysts, on average, expect OSK to earn 31 cents on a revenue drop of 9.60 percent to $1.70 billion for the quarter ended December. Investors will likely focus on management's comments about the quarterly results and sales from the defense segment.

During the current month, three analysts recommended OSK as a "Strong Buy" and six analysts gave a "Buy" rating  while four analysts have a "Hold" rating on the stock. There is no analyst who recommends a "Sell" on the stock.

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Last mont, billionaire investor, Carl Icahn dropped a tender offer for shares of Wisconsin-based Oshkosh, which makes heavy duty vehicles under Oshkosh, JLG and Pierce brands.

Icahn, who owns more than 9 percent of Oshkosh, made the $32.50 a share offer for the company in October. "I strongly believe that Oshkosh needs proactive shareholders to bring a proactive management team together to weather a volatile economy, a shrinking defense industry and a budget constrained municipal environment," Icahn had said at that time.

In the preceding fourth quarter, Oshkosh's adjusted earnings from continuing operations nearly jumped 32 percent to $60 million. Sales fell 2.3 percent to $2.06 billion due to lower sales in the defense segment.

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Adjusted income from continuing operations was $2.27 per share on sales of $8.18 billion for the year ended Sept. 30, 2012.

The company sees earnings from continuing operations of $2.35 - $2.60 per share for fiscal 2013.

OSK shares have been trading in the 52-week range of $18.49 to $33.97.

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