What: Shares of specialty vehicle maker Oshkosh Corporation (NYSE:OSK) fell as much as 12% today after it reported fiscal fourth-quarter results.

So what: Net sales fell 5.4% in the quarter to $1.58 billion and net income dropped 35% to $50.3 million, or $0.64 per share. Adjusted for one-time items, earnings were $0.67 per share, but that still fell short of analysts' expectation of $0.78 per share. 

What really worried investors was management's expectation for $3.00 to $3.40 per share in earnings during fiscal 2016, which was lower than their previous estimates and below Wall Street's current estimate of $3.53 per share.

Now what: Management's comments about commercial and military activity were actually pretty positive and indicated an uptick in demand is coming. But guidance was lowered due to a "more cautious outlook" for the business and uncertainty around when the uptick in demand will take place. With shares trading at just 11 times the top end of guidance, I think this is a great buying opportunity for long-term investors. There's uncertainty ahead, but the macro demand environment for Oshkosh's products looks to be at a bottom, and next year we should see improvement throughout the year.

Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.