Right you were; 3Q results are in, and smack on the nose (ests ranged from $0.60-2, earnings hit consensus $0.61).
biz.yahoo.com
Pretty solid, with two worries. One, margins remain lower; management says it's "due to shipments of Mustang skid loaders having lower gross margins than other Company sales of construction equipment", but I think there's pricing pressure across the board. Two, if the economy slows down, Gehl will be sorry, not happy, about "increased production capacity". For now, though, everything's roses.
I'm a little shocked at how the market's been whipsawing the stock. If Gehl's down on worries about a slowdown, then a positive quarter's results shouldn't help the stock -- yet it's up solidly right now. If the stock's been down on grain markets, you'd think investors would be able to distinguish between grain and dairy farmers.
I remain satisfied with management's overall performance. I'd like to see Mustang margins improve, though.
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