Oshkosh Earnings: Here’s Why the Stock is Exploding Higher 14%

Oshkosh Corporation (NYSE:OSK) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 13.91%.

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Oshkosh Corporation Earnings Cheat Sheet

Results: Net income increased 19.54% to $46.5 million (60 cents per diluted share) in the quarter versus a net gain of $38.9 million in the year-earlier quarter.

Revenue: Decreased 6.31% to $1.76 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Oshkosh Corporation reported adjusted net income of 60 cents per share. By that measure, the company beat the mean analyst estimate of $0.32. It beat the average revenue estimate of $1.73 billion.

Quoting Management: Charlie Szews, chief executive officer said, “I am also pleased to announce that, as part of a previously announced plan to repurchase up to $300 million of our common stock over a 12 to 18 month period, we repurchased approximately 4.25 million shares of Oshkosh Corporation common stock in the quarter at an aggregate cost of $125 million.”

Key Stats:

Revenue decreased 14.18% from $2.05 billion in the previous quarter. Net income decreased 41.06% from $78.9 million in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.73 to a profit $0.76. For the current year, the average estimate has moved up from a profit of $2.58 to a profit of $2.63 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)