Oshkosh shares fell 5.4% before launch after truck makers cut fourth-quarter guidance due to supply chain disruptions

Date:

Oshkosh Corp.Stocks
OSK,
+ 1.16%

A 5.4% drop in pre-market transactions on Friday after truck and emergency vehicle manufacturers warned that supply chain and logistics disruptions were damaging unit manufacturing and shipping capabilities as they lowered their guidance in the fourth quarter. bottom. “In the last six to nine months, we have implemented multiple price increases in the non-defense sector to counter unprecedented raw material inflation and rising fares,” CEO John C. Pfeiffer said in a statement. Said. “Based on the current situation, we expect the pricing action to cover higher input costs, but due to the backlog, this price catch-up will not occur until the end of the second quarter of the 2022 calendar. I’m not thinking. If the escalation continues, we’ll take additional pricing actions. ”The company currently has fourth-quarter revenue of $ 2.05 billion, EPS of $ 1.10 to $ 1.15, and adjusted EPS of 90 cents. Expected to be 95 cents. FactSet’s consensus is EPS of $ 1.77 and revenue of $ 2.14 billion. Oshkosh will also change its fiscal year from January 1st to December 31st and from the current year from October 1st to September 30th. The new year will begin in January 2022. Stocks are up 23%. S & P 500 in the past year
SPX,
+ 0.83%

It increased by 17%.

Oshkosh shares fell 5.4% before launch after truck makers cut fourth-quarter guidance due to supply chain disruptions

Source link Oshkosh shares fell 5.4% before launch after truck makers cut fourth-quarter guidance due to supply chain disruptions

The post Oshkosh shares fell 5.4% before launch after truck makers cut fourth-quarter guidance due to supply chain disruptions appeared first on Eminetra.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Popular

More like this
Related

Macy’s: do not bet on revenge spending boost to last

Who is afraid of inflation? Not the average...

Broadcom broadens tech with VMware deal

This article is an onsite version of our #techFT...

What Eva Mendes Is Buying Now: Sponges, Chancletas, and Face Oil

Cleaning is generational, actress Eva Mendes explains on the...