Oshkosh Under Pressure (OSK)

Specialty vehicle maker Oshkosh Corp. OSK is under pressure today a day after releasing third quarter earnings that topped analyst expectations. Oshkosh said it earned $2.31 per share in its fiscal third quarter on revenue of $2.44 billion. Analysts were expecting earnings of $1.92 per share on revenue of $2.3 billion. However, the bulk of the company's sales were due to its defense segment which rose to $1.7 billion from $605.4 million in the same period a year ago. Management said they do not expect the same level of defense segment sales in the next fiscal year. Oshkosh also sells fire and emergency vehicles to municipalities. Sales in this segment declined 16% due to weak municipal budgets. Shares of Oshkosh are lower by $2.08, or 6.15%, to $31.75 in afternoon trading.