Oshkosh (NYSE:OSK) Releases Quarterly Earnings Results, Misses Expectations By $0.65 EPS

Oshkosh (NYSE:OSK) announced its earnings results on Thursday. The company reported $2.41 earnings per share for the quarter, missing the consensus estimate of $3.06 by ($0.65), Zacks reports. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Oshkosh had a net margin of 5.24% and a return on equity of 12.95%. Oshkosh’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.20 earnings per share.

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

OSK traded up $4.15 on Friday, hitting $139.42. The company had a trading volume of 479,349 shares, compared to its average volume of 742,315. Oshkosh has a 1-year low of $116.77 and a 1-year high of $180.49. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.72 and a quick ratio of 0.96. The company’s fifty day moving average price is $140.09 and its 200 day moving average price is $146.45.

Oshkosh Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be given 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 presently 26.09%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OSK shares. Zacks Research lowered shares of Oshkosh from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Citigroup lowered their price target on shares of Oshkosh from $155.00 to $135.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Truist Financial restated a “buy” rating and issued a $161.00 target price (down from $174.00) on shares of Oshkosh in a research report on Friday. JPMorgan Chase & Co. decreased their price target on Oshkosh from $150.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Finally, DA Davidson boosted their price target on shares of Oshkosh from $168.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.86.

Insider Activity

In other news, Director John Pfeifer sold 778 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $150.00, for a total value of $116,700.00. Following the completion of the sale, the director directly owned 150,669 shares of the company’s stock, valued at approximately $22,600,350. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.64% of the company’s stock.

More Oshkosh News

Here are the key news stories impacting Oshkosh this week:

• Positive Sentiment: Truist Financial reaffirmed its Buy rating and maintained a $161 price target, implying potential upside from recent trading levels. The endorsement may be supporting the stock’s rebound following the earnings-related selloff. Truist reaffirms buy rating on Oshkosh
• Positive Sentiment: Oshkosh declared a quarterly dividend of $0.57 per share, or $2.28 annualized, representing a yield of approximately 1.7%. The payout provides continued shareholder income and signals confidence in the company’s financial position.
• Neutral Sentiment: Third-quarter revenue rose 5.6% year over year to $2.84 billion, showing continued sales growth despite falling short of Wall Street’s $2.94 billion estimate. Oshkosh third-quarter results
• Negative Sentiment: Oshkosh reported adjusted earnings of $2.41 per share, well below the roughly $3.01–$3.06 analyst consensus and down from $3.20 a year earlier. Management also reduced its 2026 financial outlook, reinforcing concerns about profitability and near-term execution. Oshkosh misses third-quarter earnings estimates

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.