By Dean Seal
Shares of Oshkosh retreated after the company said it expected tariffs to dent its earnings by $1 a share and it would take cost-cutting measures to get that figure down to 50 cents a share.
The stock was down 4.6%, at $84.16, in midday Wednesday trading. Shares are 11% lower than where they started the year.
The speciality-vehicle and machinery maker said before the bell on Wednesday that the global tariff war kicked off by the Trump administration, net of its mitigation efforts, would be in the range of $1 a share for 2025.
Oshkosh said it is undertaking company-wide cost-reduction actions that should partially offset the effects of the tariffs by up to 50 cents a share, the company said.
The forecast doesn't account for any potential indirect effects from the tariffs, such as pressure on demand, Oshkosh said.
For the first quarter, adjusted earnings were $1.92 a share on $2.31 billion in revenue. Analysts polled by FactSet had been expecting $2.05 a share on $2.41 billion in revenue.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 30, 2025 12:32 ET (16:32 GMT)
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