Oshkosh Stocks Drop

March 16, 2001
Oshkosh Truck Corp. shares fell as much as 27% after the truck maker said it would miss sales and earnings estimates for its fiscal second quarter and full year. "We're seeing the effects of a substantial slowing of the U.S. economy in ready-mix producers' cautious approach to capital spending, including the purchase of new concrete mixer trucks,” said Robert G. Bohn, Oshkosh's chairman, president
Oshkosh Truck Corp. shares fell as much as 27% after the truck maker said it would miss sales and earnings estimates for its fiscal second quarter and full year.

"We're seeing the effects of a substantial slowing of the U.S. economy in ready-mix producers' cautious approach to capital spending, including the purchase of new concrete mixer trucks,” said Robert G. Bohn, Oshkosh's chairman, president and CEO.

Oshkosh said that it expects to earn 65 cents to 70 cents a share for the second quarter ending March 31, below its earlier estimate of 77 cents. For the full fiscal year, the Wisconsin-based company expects to earn $2.80 to $3 a share, down from a previous estimate of $3.45.

For the rest of this year, Oshkosh said it expects demand for its emergency and defense trucks to remain strong through 2001.

About the Author

Tim Parry

Sponsored Recommendations

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

How to Choose the Right Route Planning Solution

This free buyer's guide will help equip you with the knowledge and insights needed to analyze route planning software and vendors in the market and, ultimately, make an informed...

How to Put Your Trucking Data to Work

How fleets can overcome data overload to optimize operations and get ahead.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!