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It has been about a month since the last earnings report for Oshkosh . Shares have added about 1.4% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Oshkosh due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Oshkosh Q2 Earnings & Sales Beat Estimates
Oshkosh reported second-quarter 2024 adjusted earnings of $3.34 per share, beating the Zacks Consensus Estimate of $3. The bottom line also rose from $2.69 recorded in the year-ago period. Consolidated net sales climbed 18% year over year to $2.85 billion. The top line also surpassed the Zacks Consensus Estimate of $2.77 billion.
Segmental Details
Access: The segment’s net sales rose 5.9% year over year to $1.41 billion and surpassed the Zacks Consensus Estimate of $1.39 billion due to enhanced sales volume in North America.
Operating income jumped 16.4% to $246.5 million (accounting for 17.5% of sales) and surpassed the Zacks Consensus Estimate of $200 million, owing to higher sales volume, pricing and an improved customer mix.
Defense: The segment’s net revenues increased 20.2% year over year to $598.7 million and surpassed the Zacks Consensus Estimate of $555 million due to higher sales volume of aftermarket parts and Family of Medium Tactical Vehicle and the commencement of NGDV production.
The segment incurred an operating loss of $39.9 million against the Zacks Consensus Estimate of operating income of $5.59 million due to intangible asset impairments at Pratt Miller.
Vocational: The segment’s net sales climbed 43.5% year over year to $843.1 million and surpassed the Zacks Consensus Estimate of $811 million due to the inclusion of sales related to AeroTech’s acquisition and higher organic sales volume.
Operating income surged 76% to $106.5 million (accounting for 12.6% of sales) and surpassed the Zacks Consensus Estimate of $88 million due to improved pricing and higher organic sales volume.
Financials
Oshkosh had cash and cash equivalents of $141.4 million as of Jun 30, 2024, compared with $125.4 million as of Dec 31, 2023. The company recorded a long-term debt of $599.1 million, up from $597.5 million as of Dec 31, 2023.
OSK declared a quarterly cash dividend of 46 cents per share. The dividend will be paid out on Aug 30, 2024, to shareholders of record as of Aug 16, 2024.
Revised 2024 Guidance
The company anticipates full-year 2024 sales to be around $10.7 billion. It now expects adjusted earnings per share of $11.75, up from the prior guidance of $11.25.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates revision.
VGM Scores
Currently, Oshkosh has a subpar Growth Score of D, a grade with the same score on the momentum front. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Oshkosh has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Oshkosh belongs to the Zacks Automotive - Original Equipment industry. Another stock from the same industry, Gentex , has gained 1.9% over the past month. More than a month has passed since the company reported results for the quarter ended June 2024.
Gentex reported revenues of $572.93 million in the last reported quarter, representing a year-over-year change of -1.8%. EPS of $0.37 for the same period compares with $0.47 a year ago.
For the current quarter, Gentex is expected to post earnings of $0.52 per share, indicating a change of +15.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.6% over the last 30 days.
Gentex has a Zacks Rank #4 (Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.
Zacks Investment Research
ZEELAND, Mich., Aug. 30, 2024 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), the Zeeland, Michigan-based supplier of digital vision, connected car, dimmable glass, and fire protection technologies, today announced that its Board of Directors recently declared a quarterly cash dividend of $0.12 (12 cents) per share that will be payable October 23, 2024, to shareholders of record of the common stock at the close of business on October 9, 2024.
About the CompanyFounded in 1974, Gentex Corporation (The NASDAQ Global Select Market: GNTX) is a supplier of automatic-dimming rearview mirrors and electronics to the automotive industry, dimmable aircraft windows for aviation markets, and fire protection products to the fire protection market. Visit the Company’s websites at www.gentex.com, fulldisplaymirror.com, and ir.gentex.com.
Contact InformationGentex Investor Relations616-931-3505
This press release was published by a CLEAR® Verified individual.
VOXX International Corporation stock is trading higher Tuesday following the company’s announcement that it is considering a sale.
The Details: On Tuesday morning, the company announced that its board of directors is exploring methods to maximize shareholder value.
The board is evaluating options, including a sale of the company, a sale of segments, operational improvements or other strategic transactions.
In an effort to support this process, the company has formed a strategic transactions committee and retained Solomon Partners as financial advisor and Bryan Cave Leighton Paisner as legal advisor.
There is no guarantee that the company will go through on a sale of the company or any other transaction.
What Else: A Form 4 filed with the SEC indicates that Gentex Corporation has bought 3,152,000 shares of VOXX at an average price of $5 per share.
How To Buy VOXX International Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in VOXX International 's case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
See Also: Rivian Hits Rough Patch: Production Halts, Leadership Shake-Ups Dent Stock
VOXX Price Action: At the time of writing, VOXX International shares are moving 83.9% higher at $5.24, according to data from Benzinga Pro.
Image: 3196481 from Pixabay.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors looking for stocks in the Automotive - Original Equipment sector might want to consider either Driven Brands Holdings Inc. or Gentex . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Currently, Driven Brands Holdings Inc. has a Zacks Rank of #1 (Strong Buy), while Gentex has a Zacks Rank of #4 (Sell). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that DRVN is likely seeing its earnings outlook improve to a greater extent. But this is just one piece of the puzzle for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
DRVN currently has a forward P/E ratio of 13.65, while GNTX has a forward P/E of 14.19. We also note that DRVN has a PEG ratio of 0.72. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. GNTX currently has a PEG ratio of 0.86.
Another notable valuation metric for DRVN is its P/B ratio of 2.34. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, GNTX has a P/B of 2.76.
These metrics, and several others, help DRVN earn a Value grade of B, while GNTX has been given a Value grade of C.
DRVN has seen stronger estimate revision activity and sports more attractive valuation metrics than GNTX, so it seems like value investors will conclude that DRVN is the superior option right now.
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