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John Bryant Promoted to President of Oshkosh Defense


Jun. 7 2016, Updated 2:23 p.m. ET

Price movement of Oshkosh

Oshkosh Corporation (OSK) has a market cap of $2.8 billion. It rose by 2.0% to close at $47.00 per share on June 6, 2016.

The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 2.2%, 2.9%, and 21.6%, respectively, on the same day. This means that OSK is trading 2.9% above its 20-day moving average, 9.2% above its 50-day moving average, and 20.3% above its 200-day moving average.

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Related ETFs and peers

The PowerShares Aerospace & Defense Portfolio (PPA) invests 1.0% of its holdings in Oshkosh. The ETF tracks a market-cap-weighted index of US-listed stocks involved in the defense, military, homeland security, and space industries. The YTD price movement of PPA was 5.9% on June 6, 2016.

The iShares Morningstar Small Value ETF (JKL) invests 0.64% of its holdings in Oshkosh. The ETF tracks a market-cap-weighted index of US small cap value stocks. The index tracks stocks from the 90th to the 97th percentile of the market-cap spectrum, using fundamental factors.

The market caps of Oshkosh’s competitors are as follows:

  • Terex Corporation (TEX) — $2.3 billion
  • Caterpillar (CAT) — $44.6 billion

Bryant’s promotion

John Bryant has been promoted to Oshkosh Defense’s president and Oshkosh Corporation’s senior vice president, effective immediately.

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Performance of Oshkosh in fiscal 2Q16

Oshkosh Corporation (OSK) reported fiscal 2Q16 net sales of ~$1.5 billion, a fall of 1.9% compared to net sales of ~$1.6 billion in fiscal 2Q15. Its net income and EPS (earnings per share) rose to $56.1 million and $0.76, respectively, in fiscal 2Q16, compared to $54.5 million and $0.69, respectively, in fiscal 2Q15.

Oshkosh’s cash and cash equivalents fell by 10.5%, and its inventories rose by 5.5% in fiscal 2Q16 compared to fiscal 4Q15. Its current ratio fell to 1.6x and its debt-to-equity ratio rose to 1.5x in fiscal 2Q16, compared to a current ratio and a debt-to-equity ratio of 1.7x and 1.4x, respectively, in fiscal 4Q15.


Oshkosh Corporation (OSK) has made the following projections for fiscal 2016:

  • net sales in the range of $5.7 billion–$6.0 billion
  • EPS in the range of $2.30–$2.70

This projection reflects a lower estimated tax rate as a result of discrete tax benefits in fiscal 2Q16 and increased expectation from its Defense segment results, partially offset by higher corporate costs.

In the next part, we’ll discuss Under Armour.


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