Oshkosh Targets to Double EPS from $2.05-2.151 to $4.00-4.50 by 2015
Oshkosh Corporation (NYSE: OSK), a leading manufacturer of specialty vehicles and vehicle bodies, today announced that it is targeting to double earnings per share from an expected $2.05 - $2.151 in fiscal 2012 to $4.00 - $4.50 in fiscal 2015, yielding a compound annual growth rate of 23% to 30%.
At the Company's Analyst Day being held today, the Oshkosh management team will discuss its business segments and expand on its financial and operational outlook, including a review of the Company's roadmap for achieving its fiscal 2015 EPS target through the continued execution of its MOVE strategy. Independent of volume, Oshkosh expects to deliver a 250 basis point improvement in operating income margin2, generate $350 million in incremental sales3 from innovation and grow international sales to more than 25% of overall sales by fiscal 2015.
“Our MOVE strategy focuses our resources on what we believe are the key drivers that create shareholder value. We are already delivering positive results as we enter the early stages of recovery from a deep cycle,” said Charles L. Szews, Oshkosh Corporation chief executive officer. “Through the first nine months of fiscal 2012, we reported better-than-expected earnings and raised our full year fiscal 2012 financial outlook twice during the year. 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. Our Board of Directors and management team are highly confident in our plans and opportunity to achieve our operational and financial targets to create a powerful, global industrial company, double EPS by fiscal 2015 and deliver outstanding value for all Oshkosh shareholders.”
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