Oshkosh Corporation
’s
OSK
subsidiary, McNeilus Truck and Manufacturing, Inc., has acquired the CartSeeker curbside automation product from Eagle Vision Systems, Inc. and Waterloo Controls, Inc. McNeilus, intending to design and develop technology and heavy-duty truck advancements that will change the face of the waste disposal industry, has set out to invest in refuse collection vehicle automation technologies that complement its vision.
CartSeeker is a patented AI-based technology that identifies and locates curbside waste carts and automates the operation of the truck’s robotic lift arm without the use of a joystick. This technology was first featured on the McNeilus Zero Radius Side Loader at Waste Expo in Las Vegas in June 2021. The technology will enable McNeilus to provide high-performance solutions that rely on operational simplicity.
Acquisitions have been acting as tailwinds for Oshkosh. The Pratt Miller buyout, which closed in January 2021, enables Oshkosh to enhance its offerings by navigating into the untapped market of uncrewed ground vehicles and establishing a robust foothold there. Solid backlog of more than $9 billion (across the Defense, Access Equipment, Commercial and Fire & Emergency segments) as of 2021-end provides enough visibility for growth into 2022 and beyond.
Significant program wins in its Defense segment also offer long-term growth visibility. For instance, the 10-year contract from the United States Postal Service to modernize the latter’s postal delivery vehicles positions Oshkosh well for growth. In June 2021, the company won the U.S. Army’s Stryker MCWS contract, worth up to $943 million. In November 2021, it secured another substantial JLTV order valued at just over $590 million. While sales from Defense segment in 2022 are expected to be down year over year, Oshkosh anticipates important program wins like the NGDV (Next Generation Delivery Vehicle) and MCWS (medium caliber weapon system) to drive profitability over the next several years.
Shares of OSK have lost 5.4% over the past year, outperforming its
industry
’s 51.1% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, OSK has a Zacks Rank #3 (Hold).
Better-ranked players in the auto space include
Harley-Davidson
HOG
LCI Industries
LCII
and
Tesla
TSLA
, each sporting a Zacks Rank #1 (Strong Buy), currently. You can see
the complete list of today’s Zacks #1 Rank stocks here
.
Harley-Davidson has an expected earnings growth rate of 1.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 21.7% upward in the past 60 days.
Harley-Davison’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. HOG pulled off a trailing four-quarter earnings surprise of 77.59%, on average. The stock has rallied 5.9% over the past year.
LCI Industries has an expected earnings growth rate of 27.8% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 16% upward in the past 60 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same in the other one. LCII pulled off a trailing four-quarter earnings surprise of 12.86%, on average. The stock has declined 17% over the past year.
Tesla has an expected earnings growth rate of 40.7% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 17% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 33.26%, on average. The stock has also rallied 22.7% over the past year.
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