Oshkosh falls 8% after cutting earnings forecast
Shares of specialty truck builder Oshkosh Corp. fell some-more than 8% Tuesday after it said customer consolidation and brand new product launch delays will lead to lower earnings for the year.
The stock (OSK) fell $4.23 to $46.07 in late sunrise trading.
Its gain per share (EPS) estimates for the third entertain of mercantile 2015 will “approximate the practiced EPS reported” in the year-ago period, or about $1.23, the Oshkosh, Wisc.-based association said. Its previous per-share gain guess for the entertain was higher.
Oshkosh also cut its full year 2015 gain per share foresee to $3.75 to $4.00 vs. $4.00 to $4.25 estimated earlier.
In late April, Oshkosh intimated which a slowdown in the defense industry is hampering sales. Fiscal second entertain sales fell 7.4% to $1.55 billion, due to “significantly reduce invulnerability shred sales,” it said.