Why Shares of Oshkosh Jumped Today

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of equipment maker Oshkosh (NYSE: OSK  ) jumped 10% today after the company released second-quarter earnings.

So what: Revenue rose 2% to $2.20 billion, which was well ahead of the $2.10 billion expected from analysts. Net income more than doubled to $148.4 million, or $1.67 per share, also well ahead of estimates of $1.07 from Wall Street.  

Now what: It should be no surprise that defense sales fell 8% and were the biggest drag on earnings this quarter. But access equipment, like scissor lifts and aerial platforms, rose 16% and showed some resiliency in the construction market. Shares now trade at 11 times trailing earnings and, given the momentum on the bottom line, I think there's still room for the stock to run.

Interested in more info on Oshkosh? Add it to your watchlist by clicking here.

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Related Tickers

9/30/2016 4:02 PM
OSK $56.00 Up +1.66 +3.05%
Oshkosh Corporatio… CAPS Rating: ***