OSK

Wall Street expects a year-over-year decline in earnings on higher revenues when Oshkosh (OSK) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 29. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This heavy vehicle manufacturer for the military, emergency and commercial companies is expected to post quarterly earnings of $3.01 per share in its upcoming report, which represents a year-over-year change of -5.9%. Revenues are expected to be $2.92 billion, up 8.5% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 3.11% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Oshkosh, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -4.05%. On the other hand, the stock currently carries a Zacks Rank of #4. So, this combination makes it difficult to conclusively predict that Oshkosh will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Oshkosh would post earnings of $2.6 per share when it actually produced earnings of $2.87, delivering a surprise of +10.38%. Over the last four quarters, the company has beaten consensus EPS estimates two times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Oshkosh doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Ford Motor Company (F), another stock in the Zacks Automotive - Domestic industry, is expected to report earnings per share of $0.39 for the quarter ended September 2026. This estimate points to a year-over-year change of -13.3%. Revenues for the quarter are expected to be $45.67 billion, down 3.2% from the year-ago quarter. The consensus EPS estimate for Ford Motor has been revised 8.8% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +2.34%. This Earnings ESP, combined with its Zacks Rank #4 (Sell), makes it difficult to conclusively predict that Ford Motor will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oshkosh Corporation (OSK) : Free Stock Analysis Report Ford Motor Company (F) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Oshkosh has been treading water for the past six months, recording a small loss of 4.4% while holding steady at $131.59. The stock also fell short of the S&P 500's 21.1% gain during that period. Is there a buying opportunity in Oshkosh, or does it present a risk to your portfolio? Get the full stock story straight from our expert analysts, it's free. We don't have much confidence in Oshkosh. Here are three reasons why OSK doesn't excite us, plus one stock we'd rather own. We can better understand Heavy Transportation Equipment companies by analyzing their backlog. This metric shows the value of outstanding orders that have not yet been executed or delivered, giving visibility into Oshkosh's future revenue streams. Oshkosh's backlog came in at $14.75 billion in the latest quarter, and it averaged 3.3% year-on-year declines over the last two years. This performance was underwhelming and shows the company is not winning new orders. It also suggests there may be increasing competition or market saturation. At StockStory, we prefer high gross margin businesses because they indicate the company has pricing power or differentiated products, giving it a chance to generate higher operating profits. Oshkosh has bad unit economics for an industrials business, signaling it operates in a competitive market. As you can see below, it averaged a 16.3% gross margin over the last five years. Said differently, Oshkosh had to pay a chunky $83.70 to its suppliers for every $100 in revenue. Although long-term earnings trends give us the big picture, we like to analyze EPS over a shorter period to see if we are missing a change in the business. Sadly for Oshkosh, its EPS declined by 11.9% annually over the last two years while its revenue grew by 1.2%. This tells us the company became less profitable on a per-share basis as it expanded. Oshkosh isn't a terrible business, but it doesn't pass our bar. With its shares trailing the market in recent months, the stock trades at 10.2× forward P/E (or $131.59 per share). While this valuation is fair, the upside isn't great compared to the potential downside. We're fairly confident there are better investments elsewhere. We'd suggest looking at one of Charlie Munger's all-time favorite businesses. ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively. Find out which 5 stocks it's flagging this month — FREE. Get Our Top 5 Growth Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+271% between June 2020 and June 2025). Find your next big winner with StockStory today.

Fresh Q2 FY26 results put Oshkosh (OSK) back in focus after the company posted an earnings per share surprise and described operations across its Access, Vocational, and Transport segments as stable. Recent trading tells a mixed story. Oshkosh shares closed at US$132.75 after a 1-day share price gain of 1.98%. However, the stock is down 15.70% on a 30-day share price basis and 12.43% over 90 days, while longer term total shareholder returns of 3.74% over 1 year and 46.27% over 3 years point to momentum that has cooled rather than collapsed. Scan beyond Oshkosh's latest surprise and size up other industrial players showing resilient fundamentals in our hand picked list of solid balance sheet and fundamentals (24 results). After a strong three year run, followed by a flat year to date and a sharp 30 day pullback, Oshkosh now poses a simple question for investors: Does the current price still skew the risk reward toward buyers? At a last close of $132.75 against a widely followed fair value estimate of $167.25, the Oshkosh valuation story hinges on how much faith you put in its earnings and margin roadmap over the next few years. Oshkosh's accelerating innovation in electric, hybrid, and autonomous vehicle technologies positions the company to win incremental business and command higher margins as customers shift toward sustainability and digital solutions. Recent multi-year government contract wins (FMTV, FHTV, and the USPS NGDV program) provide improved pricing, recurring high-visibility revenue, and create a stable foundation for further earnings growth. See why 19 investors see Oshkosh as 21% undervalued. Result: Fair Value of $167.25 (UNDERVALUED) Still, Oshkosh investors need to keep an eye on tariff and supply chain pressures, along with heavy reliance on large government contracts, which could quickly reshape that valuation story. Find out about the key risks to this Oshkosh narrative. Curious whether the optimism around Oshkosh is justified or overdone right now? Move quickly, review the numbers, and weigh the 5 key rewards. Do not just stop at Oshkosh. Broaden your watchlist with fresh ideas sourced from data driven stock screens that highlight different ways to balance risk and opportunity. - Target potential upside with companies that combine quality fundamentals and attractive pricing through the 32 high quality undervalued stocks. - Strengthen your income stream by reviewing stocks that focus on dependable payouts in the 8 dividend fortresses. - Dial down portfolio risk by filtering for resilient businesses with robust finances in the 30 resilient stocks with low risk scores. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include OSK. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

It has been about a month since the last earnings report for Oshkosh (OSK). Shares have added about 10.3% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Oshkosh due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers. Oshkosh reported second-quarter 2026 adjusted earnings of $2.87 per share, down 15.8% year over year. Earnings, however, beat the Zacks Consensus Estimate of $2.60 by 10.39%. Consolidated adjusted operating income declined 17.7% to $257.6 million, while adjusted operating margin fell to 8.8% from 11.5%. Unfavorable sales mix and higher manufacturing overhead costs impacted the results.Revenues rose 6.7% to $2.92 billion and beat the consensus mark of $2.75 billion by 6.18%. Higher sales volume and improved pricing supported the top line. Period-end backlog reached $14.75 billion, led by sizable Vocational and Transport order books. Access segment sales increased 9.4% year over year to $1.37 billion, driven by higher sales volume and improved pricing. Aerial work platform revenues rose to $735.1 million from $638 million, while telehandler revenues declined to $263.3 million from $325.1 million.Adjusted operating income fell to $155.8 million from $185.7 million. Adjusted operating margin contracted to 11.3% from 14.8% due to adverse product and customer mix, unfavorable price-cost dynamics, higher litigation reserves, increased selling and administrative costs, and greater product-development spending. Higher sales volume partly offset these pressures.Orders reached $1.5 billion and backlog was $1.96 billion at the end of the quarter, supported by infrastructure projects, data centers and other large construction developments. Vocational segment sales were nearly flat at $966.8 million. Higher municipal fire apparatus and airport product revenues were offset by lower refuse and recycling vehicle sales.Adjusted operating income declined to $130.5 million from $157.9 million, with margin contracting to 13.5% from 16.3%. Adverse sales mix, higher manufacturing overhead and lower volume outweighed improved price-cost dynamics and lower incentive compensation accruals.Fire truck shipments were roughly level with the prior-year quarter. Oshkosh expects production to increase about 10% in 2026 as it shifts from bay-based assembly to higher-flow production lines, though material-flow changes are taking longer than initially planned. Transport segment sales rose 11.9% to $536.1 million. Delivery vehicle revenues increased to $261.6 million from $107.1 million as production of the Next Generation Delivery Vehicle accelerated. Defense revenues fell to $274.5 million from $372 million.Operating income decreased to $15.8 million from $17.8 million. Adverse mix and higher warranty and manufacturing overhead costs offset a $16.6 million one-time benefit tied to the NGDV program. Management expects margins to improve in the second half as NGDV production rises and revised defense contracts contribute. Second-quarter free cash flow reached $348 million, up sharply from $49 million a year ago. The company repurchased about 667,000 shares for $92 million during the quarter. OSK declared a quarterly dividend of 57 cents per share, to be paid out on Aug. 27, 2026, to shareholders of record as of Aug. 13. Oshkosh now expects 2026 adjusted earnings of about $11 per share, down roughly 50 cents from its prior guidance. The revision reflects slower-than-expected improvement in fire truck production, more than offsetting the stronger outlook for the Access segment.The company raised its full-year sales expectation by $200 million and continues to project free cash flow of $550-$650 million. Management expects fourth-quarter results to exceed third-quarter performance as fire truck production improves, NGDV output rises and defense work shifts to revised-price contracts. In the past month, investors have witnessed a downward trend in estimates revision. Currently, Oshkosh has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of A on the value side, putting it in the top 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Oshkosh has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Oshkosh belongs to the Zacks Automotive - Domestic industry. Another stock from the same industry, Tesla (TSLA), has gained 15.9% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Tesla reported revenues of $28.24 billion in the last reported quarter, representing a year-over-year change of +25.5%. EPS of $0.33 for the same period compares with $0.40 a year ago. Tesla is expected to post earnings of $0.47 per share for the current quarter, representing a year-over-year change of -6%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.3%. Tesla has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oshkosh Corporation (OSK) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Oshkosh Corporation OSK reported second-quarter 2026 adjusted earnings of $2.87 per share, down 15.8% year over year. Earnings, however, beat the Zacks Consensus Estimate of $2.60 by 10.39%. Consolidated adjusted operating income declined 17.7% to $257.6 million, while adjusted operating margin fell to 8.8% from 11.5%. Unfavorable sales mix and higher manufacturing overhead costs impacted the results. Revenues rose 6.7% to $2.92 billion and beat the consensus mark of $2.75 billion by 6.18%. Higher sales volume and improved pricing supported the top line. Period-end backlog reached $14.75 billion, led by sizable Vocational and Transport order books. OSK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Access segment sales increased 9.4% year over year to $1.37 billion, driven by higher sales volume and improved pricing. Aerial work platform revenues rose to $735.1 million from $638 million, while telehandler revenues declined to $263.3 million from $325.1 million. Adjusted operating income fell to $155.8 million from $185.7 million. Adjusted operating margin contracted to 11.3% from 14.8% due to adverse product and customer mix, unfavorable price-cost dynamics, higher litigation reserves, increased selling and administrative costs, and greater product-development spending. Higher sales volume partly offset these pressures. Orders reached $1.5 billion and backlog was $1.96 billion at the end of the quarter, supported by infrastructure projects, data centers and other large construction developments. Vocational segment sales were nearly flat at $966.8 million. Higher municipal fire apparatus and airport product revenues were offset by lower refuse and recycling vehicle sales. Adjusted operating income declined to $130.5 million from $157.9 million, with margin contracting to 13.5% from 16.3%. Adverse sales mix, higher manufacturing overhead and lower volume outweighed improved price-cost dynamics and lower incentive compensation accruals. Fire truck shipments were roughly level with the prior-year quarter. Oshkosh expects production to increase about 10% in 2026 as it shifts from bay-based assembly to higher-flow production lines, though material-flow changes are taking longer than initially planned. Transport segment sales rose 11.9% to $536.1 million. Delivery vehicle revenues increased to $261.6 million from $107.1 million as production of the Next Generation Delivery Vehicle accelerated. Defense revenues fell to $274.5 million from $372 million. Operating income decreased to $15.8 million from $17.8 million. Adverse mix and higher warranty and manufacturing overhead costs offset a $16.6 million one-time benefit tied to the NGDV program. Management expects margins to improve in the second half as NGDV production rises and revised defense contracts contribute. Second-quarter free cash flow reached $348 million, up sharply from $49 million a year ago. The company repurchased about 667,000 shares for $92 million during the quarter. OSK declared a quarterly dividend of 57 cents per share, to be paid out on Aug. 27, 2026, to shareholders of record as of Aug. 13. Oshkosh now expects 2026 adjusted earnings of about $11 per share, down roughly 50 cents from its prior guidance. The revision reflects slower-than-expected improvement in fire truck production, more than offsetting the stronger outlook for the Access segment. The company raised its full-year sales expectation by $200 million and continues to project free cash flow of $550-$650 million. Management expects fourth-quarter results to exceed third-quarter performance as fire truck production improves, NGDV output rises and defense work shifts to revised-price contracts. General Motors GM reported second-quarter 2026 adjusted earnings of $3.57 per share, up 41.3% year over year. The figure beat the Zacks Consensus Estimate of $3.13 by 14.06%. Revenues increased 1.9% to $48.03 billion and surpassed the consensus estimate of $46.56 billion by 3.15%. General Motors raised its full-year adjusted EBIT guidance to $14-$16 billion from $13.5-$15.5 billion. Adjusted earnings are now projected at $12-$14 per share, up from the prior range of $11.50-$13.50. Tesla, Inc. TSLA reported second-quarter 2026 adjusted earnings of 33 cents per share, which declined 17.5% year over year. The figure missed the Zacks Consensus Estimate of 50 cents by 34%. Revenues advanced 25.5% to $28.24 billion and surpassed the consensus estimate of $25.81 billion by 9.41%. Tesla expects 2026 capital expenditures to exceed $25 billion and rise further over the next two to three years. Ford F reported second-quarter 2026 adjusted earnings of 42 cents per share, beating the Zacks Consensus Estimate of 33 cents by 27.27%. Earnings rose 13.5% from 37 cents a year ago. Automotive revenues of $44.89 billion fell 4.4% year over year and missed the consensus mark of $45.72 billion by 1.81%. Ford’s consolidated second-quarter revenues came in at $48.3 billion, down 3.7% year over year. The company raised its full-year adjusted EBIT outlook to $10-$11 billion from $8.5-$10.5 billion. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oshkosh Corporation (OSK) : Free Stock Analysis Report Ford Motor Company (F) : Free Stock Analysis Report General Motors Company (GM) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is transitioning fire truck manufacturing from traditional 'bay build' to high-flow production lines to address robust backlogs and improve long-term throughput. The Access segment is seeing improved demand driven by infrastructure mega-projects and data centers, offsetting a 'muddling' private non-residential construction market. Performance in the Vocational segment was impacted by a more moderate pace of production improvement than initially expected, leading to a revised annual outlook. The Transport segment is successfully ramping production of the Next Generation Delivery Vehicle (NGDV), which has now surpassed 35 million miles in service. Defense momentum is building through the integration of commercial technologies into military platforms, such as autonomous capabilities for the Marine Corps ROGUE-Fires program. Operational results were affected by unfavorable product mix and higher manufacturing overhead related to facility investments and production modernization efforts. Full-year adjusted EPS guidance was revised to approximately $11, reflecting a $0.50 headwind from slower fire truck production partially offset by Access segment upside. Management expects a significantly stronger Q4 compared to Q3, driven by NGDV production ramps, new defense contract pricing, and an anticipated additional NGDV order. Access segment revenue is now expected to grow year-over-year, an improvement from previous expectations of a modest decline. The company remains committed to its 2028 financial targets, viewing current manufacturing transitions as foundational to achieving long-term margin goals. Price-cost dynamics are expected to reach neutrality for the full year as the impact of 2025 tariffs is lapped and new pricing actions take effect. A $17 million favorable one-time item related to the NGDV program was recorded in the Transport segment during the second quarter. Higher warranty costs in the Transport segment were attributed to a one-time engine-related issue on a specific defense program. Net tariff impacts for the quarter totaled approximately $40 million to $50 million, consistent with management's internal modeling for the year. Severe weather in the Appleton area caused minor power outages but did not materially impact core manufacturing operations or business performance. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that the $0.50 reduction in EPS expectations is specifically tied to the moderate pace of fire truck production. This headwind more than offset the positive performance and increased revenue outlook in the Access segment. Current demand is heavily concentrated in national rental companies serving mega-projects like data centers. Management anticipates independent rental companies and the broader non-residential market may return to growth by late 2026 or early 2027. Margins are expected to improve as the company transitions out of legacy fixed-price contracts into new, revised price contracts. The Q4 outlook assumes the receipt of an additional NGDV order from the USPS, which is critical for supply chain planning and 606 accounting revenue recognition. The shift to high-flow lines requires a total re-engineering of material flow for thousands of parts. While near-term throughput is lower than planned, the transformation is intended to allow the segment to 'sprint' to meet high backlog levels in 2027 and 2028.

Interested in Oshkosh Corporation? Here are five stocks we like better. Oshkosh raised its 2026 Access revenue outlook as stronger demand from infrastructure, data centers and large rental companies drove 9.4% segment sales growth, $1.5 billion in orders and a $2 billion backlog. The company lowered full-year adjusted EPS guidance to approximately $11 because the fire-truck production transition is progressing more slowly than expected, reducing planned 2026 shipments by roughly $0.50 per share. Second-quarter sales rose 6.7% to $2.9 billion and free cash flow surged to $348 million, but adjusted operating income fell to $258 million due to unfavorable mix, tariffs and higher manufacturing costs. Management expects stronger results in the fourth quarter as fire-truck and USPS delivery-vehicle production ramps up. MarketBeat Week in Review – 9/4 - 9/8 Oshkosh (NYSE:OSK) reported second-quarter 2026 sales of $2.9 billion, up 6.7% from a year earlier, while adjusted earnings per share totaled $2.87. The company raised its outlook for Access segment revenue but reduced its full-year adjusted EPS expectation to about $11, citing a more gradual-than-expected ramp in fire-truck production. Adjusted operating income was $258 million, compared with $313 million in the prior-year quarter. Chief Financial Officer Matt Field said unfavorable product and customer mix, along with higher manufacturing overhead costs tied partly to investments for future production, outweighed the benefit of higher sales volume. Free cash flow rose to $348 million from $49 million a year earlier, reflecting working-capital management, inventory discipline and higher customer advances. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit 3 Reasons Oshkosh Stock is Headed to New Heights During the quarter, Oshkosh repurchased about 667,000 shares for $92 million. The company maintained its full-year free-cash-flow outlook of $550 million to $650 million. Access segment sales increased 9.4% year over year to $1.4 billion, supported by higher volume and improved pricing. The segment posted an adjusted operating margin of 11.3%, down from the prior year because of adverse product and customer mix and unfavorable price-cost dynamics related primarily to tariffs. → This Tiny AI Supplier Could Be More Important Than the Chipmakers Oshkosh Scores Big With EV Contract Chief Executive Officer John Pfeifer said demand has improved, particularly from large infrastructure investments, data centers and other mega projects. Quarterly Access orders reached $1.5 billion, producing a book-to-bill ratio of 1.1, and the segment ended the quarter with a $2 billion backlog. Oshkosh now expects Access revenue to grow in 2026 compared with 2025, improving from its previous expectation for a modest decline. Field said price-cost dynamics should improve over the course of the year through pricing actions, cost reductions and easier comparisons once tariff costs are included in year-over-year results. → 2 Stocks Built to Thrive If Inflation Refuses to Fade Pfeifer said demand from large national rental companies has been a major driver of the current environment. He added that the broader private nonresidential construction market has been “plodding along,” but the company sees indicators that it could improve late this year or in 2027. Strong equipment utilization, a growing backlog and an aging fleet of boom lifts support the company’s view that the Access recovery can extend through 2028 and beyond, he said. The company’s Vocational segment generated sales of $967 million, roughly flat from a year earlier. Lower sales of refuse and recycling vehicles more than offset improved pricing, while fire-truck shipments were approximately in line with the prior year. The segment’s adjusted operating margin was 13.5%. Oshkosh is working to transform fire-truck manufacturing from a bay-build approach into higher-flow production lines. Pfeifer said the company has implemented production changes and new material-flow processes, but the transition for a complex product involving thousands of parts has progressed more gradually than expected. As a result, Oshkosh expects to produce and ship fewer fire trucks in 2026 than previously planned. Field said the slower production ramp more than offsets the benefit from stronger Access demand and reduced the company’s full-year EPS expectation by approximately $0.50. Still, management said it expects to see production benefits in the second half of 2026. Pfeifer said Oshkosh anticipates approximately a 10% increase in fire-truck output this year and ultimately expects a 25% to 30% production-rate increase, with additional gains expected in the third and fourth quarters and through 2027. Demand and backlog for fire apparatus and airport products remained strong. Oshkosh AeroTech won passenger boarding bridge business in Chicago, Denver and Philadelphia, according to the company. Refuse vehicle sales were lower year over year, though Pfeifer said fleets remain aged and the business could return to a more normal state in 2027. The company also cited a significant order from the New York City Department of Sanitation. Transport segment sales increased 12% to $536 million, as delivery-vehicle revenue rose $155 million to $262 million. Delivery represented nearly half of Transport revenue during the quarter, and delivery revenue increased more than 20% sequentially from the first quarter. Oshkosh continued ramping production of its Next Generation Delivery Vehicle for the U.S. Postal Service. The fleet has surpassed 35 million miles, Pfeifer said, and feedback from USPS and drivers has been positive. The company is working through its initial and supplemental delivery-vehicle orders and expects an additional order in the second half, likely during the fourth quarter, according to management. Transport operating income was $16 million, down $2 million from a year earlier. Field attributed the decline to adverse mix, higher warranty costs and manufacturing overhead, partly offset by a favorable $17 million one-time item related to the NGDV program. Pfeifer said the warranty cost was a one-time, engine-related issue on a defense program. Management expects Transport margins to improve in the second half as it transitions out of past fixed-price defense contracts, increases NGDV production and benefits from revised defense pricing. Oshkosh also received a $142 million order for the FMTV A2 program and a $92 million order supporting the U.S. Marine Corps’ ROGUE-Fires platform during the quarter. Field said Oshkosh expects fourth-quarter results to be stronger than the third quarter, driven by increased fire-truck production, higher NGDV output, an anticipated NGDV order and greater contribution from revised defense contracts. Management said third-quarter EPS could be flat to down on a year-over-year basis before the expected fourth-quarter acceleration. Despite the revised 2026 earnings outlook, Pfeifer said the company remains confident in its plans to meet its 2028 financial targets. Oshkosh continues to invest in connected equipment, autonomy, artificial intelligence and electrification across its Access, Vocational and Transport businesses. 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. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Oshkosh Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Consolidated Sales: $2.9 billion, a 6.7% increase compared to the same quarter last year. Adjusted Earnings Per Share (EPS): $2.87 for the second quarter. Adjusted Operating Income: $258 million, down from $313 million in the prior year. Free Cash Flow: $348 million, significantly improved from $49 million last year. Access Segment Sales: $1.4 billion, up 9.4% from last year. Access Segment Operating Income Margin: 11.3%. Vocational Segment Sales: $967 million, relatively flat compared to last year. Vocational Segment Operating Income Margin: 13.5%. Transport Segment Sales: $536 million, a 12% increase from last year. Transport Segment Operating Income: $16 million, down $2 million compared to last year. Full Year Adjusted EPS Guidance: Expected to be in the range of $11. Full Year Free Cash Flow Guidance: $550 million to $650 million, unchanged from prior guidance. Warning! GuruFocus has detected 6 Warning Sign with OSK. Is OSK fairly valued? Test your thesis with our free DCF calculator. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Oshkosh Corp (NYSE:OSK) reported consolidated sales of $2.9 billion and adjusted earnings per share of $2.87 for the second quarter. The Access segment showed strong performance with a book-to-bill ratio of 1.1 and double-digit operating income margins. The company has a robust backlog in its Transport and Vocational segments, providing good visibility for future growth. Oshkosh Corp (NYSE:OSK) is investing in AI-enabled technologies, autonomy, and connectivity, which are expected to drive future growth. The Defense segment received significant orders, including a $142 million order for the FMTV A2 program and a $92 million order for the United States Marine Corps Rogue Fires platform. Adjusted operating income decreased to $258 million from $313 million in the prior year, primarily due to unfavorable mix and higher manufacturing overhead costs. The Vocational segment is experiencing slower-than-expected improvements in fire truck production throughput, impacting short-term earnings expectations. Refuse collection vehicle sales were lower than last year, affecting the Vocational segment's performance. The Transport segment faced higher warranty and manufacturing overhead costs, impacting its operating income. Oshkosh Corp (NYSE:OSK) revised its full-year adjusted earnings per share expectation to $11, down from previous estimates due to production challenges in the Vocational segment. Q: Can you clarify the impact of the Vocational segment on the earnings guidance, and is there upside in the Access segment? A: Yes, the more moderate pace of production in the Vocational segment more than offsets the upside in the Access segment, which led to the revision in the guidance. - Matthew Field, CFO Q: What are your expectations for Access segment volumes compared to prior peak levels? A: It's difficult to predict the overall industry, but the demand is primarily driven by mega projects. We expect the private nonresidential construction segment to improve, which will further boost demand. - John Pfeifer, CEO Q: How do you expect the margins in the Access segment to evolve? A: Over the year, incrementality should improve as we enhance our price-cost dynamics. - Matthew Field, CFO Q: Can you provide more details on the fire truck production improvements and when benefits will be seen? A: Benefits should start to be seen in the second half of this year. We are transforming our manufacturing operations to high-flow production lines, which will improve efficiency and output. - John Pfeifer, CEO Q: What is the outlook for the Transport segment, and how does the NGDV order impact it? A: We expect Transport operating margin to grow in the back half of the year as we ramp up NGDV production and anticipate receiving an additional NGDV order. - Matthew Field, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Oshkosh (OSK) reported $2.92 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.7%. EPS of $2.87 for the same period compares to $3.41 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $2.75 billion, representing a surprise of +6.18%. The company delivered an EPS surprise of +10.39%, with the consensus EPS estimate being $2.60. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Oshkosh performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Net sales- Vocational- Total Vocational: $966.8 million versus $1.04 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.3% change. Net sales- Vocational- Municipal fire apparatus: $423.9 million versus $461.68 million estimated by two analysts on average. Net sales- Vocational- Refuse and recycling vehicles: $160.7 million versus the two-analyst average estimate of $167.23 million. Net sales- Vocational- Other: $124.2 million versus the two-analyst average estimate of $141.52 million. The reported number represents a year-over-year change of -3.4%. Net sales- Transport- Total Transport: $536.1 million versus the two-analyst average estimate of $538.76 million. Net Sales- Access- Telehandlers: $263.3 million compared to the $312.1 million average estimate based on two analysts. The reported number represents a change of -19% year over year. Net Sales- Access- Total: $1.37 billion versus the two-analyst average estimate of $1.17 billion. The reported number represents a year-over-year change of +9.4%. Net Sales- Corporate and other: $38.4 million versus the two-analyst average estimate of $36.6 million. The reported number represents a year-over-year change of +40.7%. Net Sales- Access- Aerial work platforms: $735.1 million compared to the $580.58 million average estimate based on two analysts. The reported number represents a change of +15.2% year over year. Net Sales- Access- Other: $375.4 million versus the two-analyst average estimate of $277.52 million. The reported number represents a year-over-year change of +28.2%. Net Sales- Vocational- Airport products: $258 million versus the two-analyst average estimate of $267.02 million. Adjusted Access segment operating income (non-GAAP): $155.8 million compared to the $127.94 million average estimate based on two analysts. View all Key Company Metrics for Oshkosh here>>> Shares of Oshkosh have returned +0.9% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oshkosh Corporation (OSK) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Oshkosh (OSK) came out with quarterly earnings of $2.87 per share, beating the Zacks Consensus Estimate of $2.6 per share. This compares to earnings of $3.41 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +10.39%. A quarter ago, it was expected that this heavy vehicle manufacturer for the military, emergency and commercial companies would post earnings of $1.04 per share when it actually produced earnings of $0.85, delivering a surprise of -18.27%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Oshkosh, which belongs to the Zacks Automotive - Domestic industry, posted revenues of $2.92 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.18%. This compares to year-ago revenues of $2.73 billion. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Oshkosh shares have added about 23.3% since the beginning of the year versus the S&P 500's gain of 8.3%. While Oshkosh has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Oshkosh was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.41 on $2.92 billion in revenues for the coming quarter and $10.87 on $11 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Domestic is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Rivian Automotive (RIVN), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 30. This a manufacturer of motor vehicles and passenger cars is expected to post quarterly loss of $0.65 per share in its upcoming report, which represents a year-over-year change of +18.8%. The consensus EPS estimate for the quarter has been revised 1.2% higher over the last 30 days to the current level. Rivian Automotive's revenues are expected to be $1.59 billion, up 22.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oshkosh Corporation (OSK) : Free Stock Analysis Report Rivian Automotive, Inc. (RIVN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. Oshkosh (OSK) just reported its second quarter 2026 results, updated its full year guidance and affirmed a dividend. Together, these updates give you fresh data points on revenue, profitability and capital returns. The company reported second quarter sales of US$2.9b compared with US$2.7b a year earlier. Net income for the period was US$183.2m compared with US$204.8m, with diluted earnings per share from continuing operations at US$2.92 versus US$3.16. For the first six months of 2026, Oshkosh reported sales of US$5.2b compared with US$5.0b a year ago. Net income for this period was US$226.3m compared with US$317.0m, with diluted earnings per share from continuing operations at US$3.59 versus US$4.88. Alongside these results, management now expects 2026 net sales of about US$11.2b, which is US$200m higher than its previous outlook. The company also updated its expectation for full year diluted earnings per share to US$10.50. Oshkosh’s Board of Directors also declared a quarterly cash dividend of US$0.57 per share. The dividend is scheduled to be paid on 27 August 2026 to shareholders on record as of 13 August 2026. See our latest analysis for Oshkosh. Oshkosh’s latest guidance and dividend update come as the share price sits at US$154.95, with a 17.19% year to date share price return and a 3 year total shareholder return of 77.03%. This suggests momentum has been building over a multi year period, while shorter term moves react to the revised earnings outlook. If Oshkosh’s recent move has you thinking about where else growth or re rating potential might show up, this is a good moment to scan 35 power grid technology and infrastructure stocks After Oshkosh’s strong multi year share price run and the latest shift in guidance, the real test now is whether the current valuation still tilts the risk reward in favour of new buyers or mainly rewards existing holders. On the most followed narrative, Oshkosh screens as modestly undervalued, with a fair value of $162.19 versus the current $154.95 share price. Read the complete narrative. The narrative hinges on steady revenue expansion, rising margins and a lower future earnings multiple than the wider machinery group. The result is a fair value path that leans heavily on compounding earnings and share count moving lower over time rather than aggressive top line assumptions. Result: Fair Value of $162.19 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Oshkosh’s reliance on large government contracts, along with its exposure to tariffs and supply chain costs, could pressure margins and challenge this modest undervaluation story. Find out about the key risks to this Oshkosh narrative. Given the mixed signals in Oshkosh’s recent numbers and guidance, it helps to look under the hood yourself and see what stands out. Take a closer look at the company’s upside drivers by reviewing the 4 key rewards If Oshkosh is already on your radar, broaden your opportunity set by scanning other focused stock ideas that match different goals, risk levels and income needs. Target future income by reviewing companies highlighted as 8 dividend fortresses that combine higher yields with a focus on durability. Zero in on potential mispriced opportunities by checking out the 51 high quality undervalued stocks that stand out on both quality and valuation. Guard your capital by focusing on resilience first through the 84 resilient stocks with low risk scores that score well on financial strength and stability. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include OSK. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]