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Auto Stocks Q3 Earnings Roster for Nov 1: OSK, LCII & More

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Auto Stocks Q3 Earnings Roster for Nov 1: OSK, LCII & More

Rising interest rates, ongoing trade war and higher vehicle prices affect auto sales.

Within the Auto sector, many important companies — including Ford Motor Company F and Tesla, Inc. TSLA — reported earnings results while others will report in the next few days. Ford’s third-quarter 2018 adjusted earnings were in line with the Zacks Consensus Estimate. Results were impacted by challenges faced by the company in the China market and high commodity costs. On the other hand, Tesla posted impressive results and earned profit for the first time in two years.

Per the latest Earnings Preview, on a year-over-year basis, the auto sector’s earnings are expected to decline by 5.8% while revenues are likely to gain 2%.

This year so far, a favorable job market scenario has boosted demand for vehicles. The auto sector witnessed growth in sales for larger and comfortable pickup trucks, sports utility vehicles (SUVs), and crossovers. However, demand for traditional passenger cars saw a steep decline.

Further, rising interest rates, ongoing trade war and higher vehicle prices are affecting auto sales. Additionally, over the past few months, many automakers have recalled vehicles in huge numbers. The repair and replacement of defective vehicles are raising costs for the companies, thus, putting pressure on profit margins. Moreover, huge investments in technological developments of vehicles and high raw material costs are hurting auto manufacturers.

Now, let’s assess a few important automakers, including Oshkosh Corporation OSK, LCI Industries LCII, Cooper-Standard Holdings Inc. (CPS) and SPX Corporation SPXC, which are slated to announce their quarterly numbers on Nov 1.

Per our proprietary methodology, a stock with a favorable Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and with a positive Earnings ESP is likely to deliver a positive surprise. Earnings ESP shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. Our research shows that with an ideal combination of the two key ingredients — Zacks Rank and Earnings ESP — chances of a positive surprise are as high as 70% for stocks lined up for an earnings release. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Oshkosh, WI-based Oshkosh is a designer, manufacturer and seller of a varied range of vehicle bodies, and specialty vehicles. In the last reported quarter, the company outpaced the Zacks Consensus Estimate. Additionally, it delivered a positive earnings surprise in all of the trailing four quarters. Further, it has a long-term earnings growth rate of 18.3%.

Per our model, Oshkosh is likely to beat on earnings this quarter as it has an Earnings ESP of +2.07% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Oshkosh Corporation Price and EPS Surprise

 

Oshkosh Corporation Price and EPS Surprise | Oshkosh Corporation Quote

Elkhart, IN-based LCI Industries is a manufacturer and supplier of components for recreational vehicles (RVs) and adjacent industries in the United States and internationally.

Our proven model does not conclusively predict an earnings beat for the company. This is because it has an Earnings ESP of +3.25% and a Zacks Rank of 4 (Sell).

LCI Industries Price and EPS Surprise

LCI Industries Price and EPS Surprise | LCI Industries Quote

 

Novi, MI-based Cooper-Standard is engaged in designing, manufacturing and selling of sealing, fuel and brake delivery along with fluid transfer and anti-vibration systems. In the last reported quarter, the company missed the Zacks Consensus Estimate. In fact, it delivered a positive earnings surprise in two of the trailing four quarters while missing estimates on the other two.

Our proven model does not conclusively predict an earnings beat for the company. This is because it has an Earnings ESP of -6.00% and a Zacks Rank of 4.
 

Cooper-Standard Holdings Inc. Price and EPS Surprise

 

Cooper-Standard Holdings Inc. Price and EPS Surprise | Cooper-Standard Holdings Inc. Quote

 

Charlotte, NC-based SPX Corporation is engaged in supplying infrastructure equipment with scalable growth platforms in heating, ventilation and air conditioning (HVAC); detection and measurement; and engineered solutions.

Our proven model does not conclusively predict an earnings beat for the company. This is because it has an Earnings ESP of 0.00% and a Zacks Rank of 3.
 

SPX Corporation Price and EPS Surprise

 

SPX Corporation Price and EPS Surprise | SPX Corporation Quote

 

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Ford Motor Company (F) : Free Stock Analysis Report
 
Tesla, Inc. (TSLA) : Free Stock Analysis Report
 
Oshkosh Corporation (OSK) : Free Stock Analysis Report
 
SPX Corporation (SPXC) : Free Stock Analysis Report
 
LCI Industries (LCII) : Free Stock Analysis Report
 
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