Oshkosh (NYSE:OSK) Announces Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Oshkosh (NYSE:OSK) posted its quarterly earnings results on Tuesday. The company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.24, Briefing.com reports. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.79 billion. Oshkosh had a net margin of 5.54% and a return on equity of 13.90%. Oshkosh’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 earnings per share. Oshkosh updated its FY 2026 guidance to 11.000-11.000 EPS.

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

• 2026 adjusted EPS guidance was reduced to approximately $11, primarily because fire-truck production throughput is improving more slowly than expected. Management indicated third-quarter earnings could be flat to down year over year, with a stronger fourth quarter.
• Access demand improved, with second-quarter sales up 9.4%, orders of $1.5 billion, a 1.1 book-to-bill ratio, and a $2 billion backlog. The company now expects full-year Access revenue to grow versus 2025, supported by mega-projects, strong utilization, and anticipated recovery in broader nonresidential construction.
• Consolidated adjusted operating income declined to $258 million from $313 million, reflecting unfavorable mix and higher manufacturing overhead, including investments in future production capacity. Tariffs contributed roughly $40 million-$50 million of net impact in the quarter, although management still expects full-year price-cost neutrality.
• Oshkosh is restructuring Pierce’s fire-truck manufacturing from bay-based assembly toward high-flow production lines. Shipments are expected to be lower than previously planned in 2026, while production is targeted to increase about 10% this year and 25%-30% over time to support growth in 2027 and 2028.
• Transport momentum is building as NGDV production ramps, with delivery-vehicle revenue up more than 20% sequentially and another USPS order expected in the second half, likely the fourth quarter. Defense also received notable awards, including $142 million for FMTV A2 and $92 million for the ROGUE-Fires platform, while full-year free-cash-flow guidance remained $550 million-$650 million.

Oshkosh Stock Down 3.3%

NYSE OSK opened at $147.45 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.63 and a debt-to-equity ratio of 0.13. Oshkosh has a fifty-two week low of $116.77 and a fifty-two week high of $180.49. The business has a 50 day moving average price of $139.93 and a two-hundred day moving average price of $148.22. The stock has a market cap of $9.19 billion, a PE ratio of 16.66, a P/E/G ratio of 0.77 and a beta of 1.23.

Oshkosh Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Thursday, August 13th. Oshkosh’s dividend payout ratio is currently 25.39%.

Insider Activity

In other news, Director Duncan Palmer sold 505 shares of Oshkosh stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $133.86, for a total transaction of $67,599.30. Following the sale, the director owned 39,684 shares in the company, valued at $5,312,100.24. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oshkosh

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Oshkosh in the fourth quarter worth $246,000. Invesco Ltd. boosted its stake in Oshkosh by 20.4% during the 4th quarter. Invesco Ltd. now owns 1,777,735 shares of the company’s stock valued at $223,337,000 after acquiring an additional 300,766 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Oshkosh by 9.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,853 shares of the company’s stock worth $1,112,000 after acquiring an additional 751 shares in the last quarter. Caitlin John LLC increased its position in shares of Oshkosh by 2,700.9% in the 4th quarter. Caitlin John LLC now owns 3,081 shares of the company’s stock worth $387,000 after purchasing an additional 2,971 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Oshkosh in the 4th quarter worth about $394,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on OSK shares. Truist Financial increased their target price on Oshkosh from $176.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Robert W. Baird increased their target price on shares of Oshkosh from $172.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore reaffirmed an “outperform” rating and set a $181.00 price target on shares of Oshkosh in a research report on Monday, May 11th. Citigroup downgraded shares of Oshkosh from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $180.00 to $170.00 in a research note on Monday, April 13th. Finally, Morgan Stanley dropped their price objective on shares of Oshkosh from $157.00 to $150.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.47.

Oshkosh News Summary

Here are the key news stories impacting Oshkosh this week:

• Positive Sentiment: Robert W. Baird raised its price target from $172 to $180 and upgraded or reaffirmed an “outperform” rating. The new target implies approximately 18% upside from the referenced share price, signaling confidence in Oshkosh’s earnings outlook and valuation. Benzinga
• Positive Sentiment: Second-quarter results exceeded expectations. Adjusted EPS was $2.87 versus the consensus estimate of $2.63, while revenue rose 6.7% year over year to $2.92 billion, ahead of the $2.79 billion forecast. The performance provides evidence of solid demand despite ongoing execution pressures. Oshkosh Corporation Reports 2026 Second Quarter Results
• Positive Sentiment: Oshkosh maintained full-year 2026 adjusted EPS guidance of $11.00 and set revenue guidance at approximately $11.2 billion, above the roughly $11.0 billion analyst consensus. The sales outlook suggests continued business momentum. Oshkosh Full-Year Guidance
• Positive Sentiment: The company declared a quarterly dividend of $0.57 per share, payable August 27 to shareholders of record August 13. The dividend provides ongoing income support and represents an annualized yield of approximately 1.5%. Oshkosh Dividend Announcement
• Negative Sentiment: Profitability weakened compared with the prior-year quarter. Reported net income fell to $183.2 million from $204.8 million, while adjusted EPS declined to $2.87 from $3.41. Coverage also cited operational challenges, creating a potential concern regarding margins and execution. Oshkosh Q2 Earnings Call Highlights

About Oshkosh

Oshkosh Corporation (NYSE: OSK) is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company’s offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.