BUZZ-Oshkosh falls on reports that Trump may cancel USPS electric mail truck contract

Reuters

2024-12-07

** Shares of Oshkosh fall 7.1% to $103.95

** Reuters reports Donald Trump's transition team is considering canceling the United States Postal Service's contracts to electrify its delivery fleet, citing people familiar with the matter

** Report says Trump's transition team is now reviewing how it can unwind the postal service's multi-billion dollar contracts, including those with Oshkosh and Ford

** In 2023, Congress gave USPS $3 billion as part of a $430 billion climate bill to buy EVs and charging infrastructure; as part of that, Oshkosh is expected to deliver about 45,000 EVs

** 7 of 16 brokerages rate the stock "buy" or higher, 8 "hold" and 1 "sell"; their median PT is $122.5

** Including session's moves, stock down 2.4% YTD

(Reporting by Abhinav Parmar in Bengaluru)

((Abhinav.parmar@thomsonreuters.com))

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