Oshkosh Corp. (OSK), a maker of specialty vehicles and vehicle bodies, said Friday that it expects to double earnings per share by fiscal 2015 from the current year.
Ahead of its analyst day being held today, Oshkosh forecast earnings to rise to $4.00 to $4.50 per share in fiscal 2015 from an expected $2.05 to $2.15 per share in fiscal 2012, yielding a compound annual growth rate of 23 percent to 30 percent.
In addition, the company expects fiscal 2012 reported earnings per share of $1.90 to $2.03.
On average, 13 analysts polled by Thomson Reuters estimate the company to report earnings per share of $2.11 for the year. Analysts' estimates typically exclude one-time items.
Oshkosh said it will provide detail on business segments and outlook during the analyst day.
The company expects to achieve the fiscal 2015 earnings target through the continued execution of its MOVE strategy.
Independent of volume, Oshkosh expects a 250 basis point improvement in operating income margin, $350 million in incremental sales from innovation, and to grow international sales to more than 25 percent of overall sales by fiscal 2015.
Charles Szews, Chief Executive Officer of Oshkosh Corp. said, "Looking to fiscal 2015, we expect our continued execution of MOVE will yield even stronger results by driving higher incremental margins and improved cash flows through better execution and cost management, prudent capital allocation and accessible global growth."
In Friday's regular session OSK is trading at $28.67, up $1.17 or 4.24 percent on a volume of 269, 688 shares.
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