Yahoo Finance Oshkosh Corporation Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year
Oshkosh Corporation (NYSE:OSK) investors will be delighted, with the company turning in some strong numbers with its latest results. The company beat forecasts, with revenue of US$2.5b, some 2.2% above estimates, and statutory earnings per share (EPS) coming in at US$2.71, 24% ahead of expectations. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
See our latest analysis for Oshkosh
Following the latest results, Oshkosh's 16 analysts are now forecasting revenues of US$10.6b in 2024. This would be an okay 7.2% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to increase 4.0% to US$10.96. In the lead-up to this report, the analysts had been modelling revenues of US$10.3b and earnings per share (EPS) of US$10.07 in 2024. So there seems to have been a moderate uplift in sentiment following the latest results, given the upgrades to both revenue and earnings per share forecasts for next year.
Althoughthe analysts have upgraded their earnings estimates, there was no change to the consensus price target of US$129, suggesting that the forecast performance does not have a long term impact on the company's valuation. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Oshkosh, with the most bullish analyst valuing it at US$158 and the most bearish at US$107 per share. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Oshkosh shareholders.
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The analysts are definitely expecting Oshkosh's growth to accelerate, with the forecast 9.7% annualised growth to the end of 2024 ranking favourably alongside historical growth of 4.0% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 3.5% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Oshkosh is expected to grow much faster than its industry.
The Bottom Line
The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around Oshkosh's earnings potential next year. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Oshkosh going out to 2026, and you can see them free on our platform here.
Before you take the next step you should know about the 2 warning signs for Oshkosh (1 shouldn't be ignored!) that we have uncovered.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
