Key Developments: Oshkosh Corp (OSK)
39.11USD
21 May 2013
$-0.16 (-0.41%)
$38.95
$39.16
$39.46
$38.90
411,917
847,515
$42.66
$18.49
Latest Key Developments (Source: Significant Developments)
Oshkosh Corp Raises FY 2013 EPS Guidance
Oshkosh Corp announced that as a result of its second fiscal quarter results and the Company's outlook for the remainder of the fiscal 2013, the Company is increasing its outlook range for fiscal 2013 adjusted earnings from continuing operations to $2.90 - $3.15 per share (EPS). This estimate excludes $0.11 per share net of tax costs incurred in the first quarter of fiscal 2013 related to the tender offer for the Company's common stock and threatened proxy contest. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $3.06 for fiscal 2013. Full Article
Oshkosh Corp Announces Defense Employee Layoffs Slated for June 2013
Oshkosh Corp announced that its Defense division plans to reduce its workforce in Oshkosh by approximately 700 hourly positions starting in mid-June 2013 and by approximately 200 salaried positions through July. After the layoffs, Oshkosh will employ approximately 2,800 Defense employees in Oshkosh. As discussed on numerous occasions, Oshkosh expects domestic military vehicle production volumes to decline significantly as the year progresses. The Company`s lower expected vehicle production is due mainly to the reduction in U.S. Defense budgets and a return to peacetime spending levels as the U.S. winds down war activities. Daily production volumes are expected to decline by approximately 30 percent this summer. Full Article
Oshkosh Corp Raises FY 2013 EPS Guidance
Oshkosh Corp raised fiscal 2013 guidance and expects earnings per share (EPS) in the range of $2.80-$3.05. According to I/B/E/S Estimates, analysts on average are expecting the Company to report EPS of $2.63 for fiscal 2013. Full Article
Icahn Abandons Effort To Take Control Of Oshkosh Corp-Reuters
Reuters reported that Carl Icahn on Tuesday abandoned his effort to acquire control of U.S. truck and military vehicle maker Oshkosh Corp after shareholders tendered fewer shares than he had hoped for. Only 22% of shares were tendered in his $32.50 per share offer, less than the 25% threshold Icahn had sought. Icahn, who remains Oshkosh's shareholder with a 9.5% stake, had said that many shares would have improved his chances of overhauling the board of the Oshkosh, Wisconsin-based company. Full Article
Oshkosh Corp Reaffirms FY 2012 EPS Outlook
Oshkosh Corp announced that it is reaffirming the outlook for fiscal 2013 earnings from continuing operations of $2.35 - $2.60 per diluted share. According to I/B/E/S Estimates, analysts on average are expecting the Company to report EPS of $2.13 for fiscal 2012. Full Article
Icahn Offers To Buy Oshkosh Corp-Reuters
Reuters reported that Carl Icahn has offered to buy all the outstanding shares of Oshkosh Corp October 12, 2012 for a 21% premium to the U.S. truckmaker's closing price on October 11, 2012. Icahn, the Company's largest shareholder had a 9.45% stake. Full Article
Oshkosh Corp Reaffirms FY 2012 EPS Guidance; Issus FY 2015 EPS Guidance
Oshkosh Corp announced that it is targeting to double earnings per share (EPS) from an expected $2.05 - $2.15 in fiscal 2012 to $4.00 - $4.50 in fiscal 2015, yielding a compound annual growth rate of 23% to 30%. According to I/B/E/S Estimates, analysts on average are expecting the Company to report EPS of $2.11 for fiscal 2012. Full Article
Oshkosh Corp's Oshkosh Defense Receives EMD Contract to Develop JLTV
Oshkosh Corp announced that The U.S. Department of Defense has awarded Oshkosh Defense, a division of the Company, a contract for the Joint Light Tactical Vehicle (JLTV) program’s Engineering, Manufacturing and Development (EMD) phase. The JLTV program aims to replace many of the U.S. military’s aged HMMWVs with a lightweight vehicle that offers greater protection, mobility and transportability. Full Article
Carl Icahn Wants Oshkosh Corp To Spin Off JLG-Reuters
Reuters reported that Investor Carl Icahn and his affiliates had talks with Oshkosh Corp on seeking a spin-off of the Company's JLG access equipment business, according to a filing with the U.S. Securities and Exchange Commission. Full Article
Oshkosh Corp.'s Defense Segment Secures Contract
Oshkosh Corp. announced that the Company’s Defense segment has been awarded a contract to provide the United Arab Emirates (UAE) Armed Forces with 750 Mine Resistant Ambush Protected All-Terrain Vehicles (M-ATVs). The contract awarded to Oshkosh Corporation allows for additional vehicles to be ordered at the discretion of the customer. Oshkosh is scheduled to deliver M-ATVs to the UAE between January and August 2013, pending standard regulatory requirements. Full Article
UPDATE 1-Housing rebound helps Oshkosh post higher profit, raises view
CHICAGO, April 30 - Oshkosh Corp on Tuesday reported a higher quarterly profit and raised its forecast for the full year as the housing recovery in the United States prompted builders to buy more of the company's aerial work platforms, telehandlers and concrete mixers.
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