Oshkosh (NYSE:OSK) Announces Earnings Results

Oshkosh (NYSE:OSK) posted its quarterly earnings data on Thursday. The company reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.06 by ($0.65), Zacks reports. Oshkosh had a return on equity of 11.69% and a net margin of 4.63%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the firm earned $3.20 earnings per share. Oshkosh’s revenue was up 5.6% compared to the same quarter last year.

Here are the key takeaways from Oshkosh’s conference call:

• 2026 outlook was reduced, with adjusted EPS now expected at $8.50–$9.50, revenue at approximately $11 billion, and adjusted operating income at approximately $850 million. The revision primarily reflects slower-than-expected fire truck production and lower delivery-vehicle output.
• Pierce’s fire truck modernization has encountered significant material-flow and scheduling problems, reducing third-quarter production and shipments by roughly 20% year over year. Management expects sequential improvement in the fourth quarter and about 10% production growth in 2027, but acknowledged the transition has taken longer and been more disruptive than planned.
• Access demand strengthened materially, with $2 billion of quarterly orders, a $2.7 billion backlog, a 1.5 book-to-bill ratio, and an 11.2% adjusted operating margin. Management expects mega-project activity, particularly data-center construction, to support several years of growth and believes the segment can produce strong incremental margins as volumes recover.
• Cash generation remained strong, with third-quarter free cash flow of $275 million and full-year guidance raised to $600 million–$700 million; Oshkosh also repurchased $82 million of stock and received a Moody’s credit-rating upgrade. Management cited improving refuse and recycling orders, robust defense backlogs, and confidence in receiving another USPS NGDV order, although the order’s timing could shift up to $40 million of fourth-quarter earnings into 2027.

Oshkosh Stock Performance

NYSE OSK traded up $4.10 on Friday, hitting $139.37. 1,326,262 shares of the stock traded hands, compared to its average volume of 727,361. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 1.72. The business’s fifty day moving average is $139.82 and its two-hundred day moving average is $146.40. Oshkosh has a 12 month low of $116.77 and a 12 month high of $180.49. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.21 and a beta of 1.26.

Oshkosh Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 16th. Oshkosh’s dividend payout ratio is 26.09%.

Insider Activity

In other news, Director John Pfeifer sold 778 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $150.00, for a total transaction of $116,700.00. Following the transaction, the director owned 150,669 shares of the company’s stock, valued at $22,600,350. This represents a 0.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.64% of the stock is currently owned by insiders.

Oshkosh News Roundup

Here are the key news stories impacting Oshkosh this week:

• Positive Sentiment: Backlog growth supports the longer-term outlook. Recent analysis highlights solid backlog development, which could provide future revenue visibility despite near-term production constraints in the fire-truck business. OSK Q3 deep dive: Fire truck production headwinds and backlog growth shape outlook
• Positive Sentiment: Truist reaffirmed its Buy rating. Although the firm reduced its price target to $161 from $174, the new target still implies meaningful upside from recent trading levels and signals continued confidence in Oshkosh’s valuation and prospects. Truist rating and price target update
• Positive Sentiment: The quarterly dividend was maintained. Oshkosh declared a $0.57-per-share quarterly dividend, or $2.28 annualized, providing ongoing shareholder income with a yield of approximately 1.7%.
• Neutral Sentiment: Revenue increased year over year. Third-quarter sales rose 5.6% to $2.84 billion, but the gain was below analysts’ $2.94 billion estimate, indicating that growth remains uneven across the company’s businesses. Oshkosh Q3 adjusted earnings decline
• Negative Sentiment: Earnings missed expectations and declined year over year. Adjusted EPS was $2.41, versus consensus estimates near $3.01–$3.06 and $3.20 a year earlier. Management also lowered its 2026 earnings outlook, while fire-truck production headwinds remain a near-term concern. Oshkosh updates FY26 financial outlook

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Oshkosh from $172.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Barclays upped their price objective on shares of Oshkosh from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Zacks Research downgraded Oshkosh from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Citigroup decreased their target price on Oshkosh from $155.00 to $135.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Oshkosh in a research note on Friday, October 9th. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.79.

About Oshkosh

Oshkosh Corporation (NYSE: OSK) is a manufacturer of specialty vehicles, vehicle bodies and related equipment for commercial, government and industrial customers. The company serves markets that require purpose-built vehicles designed for demanding operating conditions, including defense, emergency response, construction, aviation support and municipal services.

Oshkosh’s product portfolio includes military vehicles and systems, fire apparatus, airport rescue and firefighting vehicles, refuse collection vehicles, concrete mixers, snow and ice removal equipment, and other vocational trucks.