Oshkosh (NYSE:OSK) Releases Quarterly Earnings Results

Oshkosh (NYSE:OSK) posted its quarterly earnings data on Thursday. The company reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.07), FiscalAI reports. The company had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Oshkosh had a return on equity of 16.60% and a net margin of 6.43%.

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

• 2025 results and 2026 outlook: Oshkosh reported full-year revenue of $10.4 billion and adjusted EPS of $10.79, and guided 2026 to roughly $11 billion in sales and adjusted EPS of about $11.50, while flagging Q1 as the weakest quarter and a stronger back half.
• Tariff headwind and pricing timing: Management estimates incremental tariffs of ~$200 million in 2026 (~$160M higher vs. 2025), largely hitting the Access business, and said recent price increases pulled some demand into Q4 and will dampen Q1 volumes.
• Access segment dynamics: Q4 orders were strong at $1.7 billion (book-to-bill 1.5) with a $1.3B backlog, but Oshkosh expects weaker non‑residential construction demand to pressure Access revenue in the first half of 2026 and only recover in H2/2027.
• Vocational momentum and backlog: Vocational posted ~13% revenue growth in 2025 (> $3.7B) with robust margins (~16%), a backlog > $6.6 billion, and ~$150M of planned capital to raise throughput and shorten lead times—management expects ~17% operating margin in 2026.
• Transport ramp, defense wins, and cash returns: NGDV production continues (5,000th unit, >10M miles), transport revenue is expected to grow to ~$2.5B in 2026 with margin improvement over the year, and Oshkosh generated strong free cash flow (~$618M in 2025), returned $278M via buybacks and announced a $0.57 quarterly dividend.

Oshkosh Stock Performance

Shares of NYSE:OSK traded down $2.59 on Thursday, reaching $143.57. The company’s stock had a trading volume of 1,115,090 shares, compared to its average volume of 811,459. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.98 and a quick ratio of 0.99. Oshkosh has a 52-week low of $76.82 and a 52-week high of $158.53. The stock’s 50-day moving average is $135.99 and its two-hundred day moving average is $133.40. The stock has a market capitalization of $9.08 billion, a P/E ratio of 14.12, a PEG ratio of 2.02 and a beta of 1.41.

Analysts Set New Price Targets

OSK has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Oshkosh from $132.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein boosted their price target on shares of Oshkosh from $132.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, December 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Oshkosh in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Oshkosh from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Finally, Zacks Research lowered Oshkosh from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Thirteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.31.

Key Headlines Impacting Oshkosh

Here are the key news stories impacting Oshkosh this week:

• Positive Sentiment: Revenue topped expectations — Oshkosh reported fourth‑quarter sales of $2.69B versus analysts’ ~$2.60B estimate, showing demand strength that supports top‑line momentum. Oshkosh beats revenue expectations, misses on earnings in fourth quarter
• Positive Sentiment: Short interest fell sharply in January (down ~34%), reducing potential short‑squeeze risk and indicating fewer bearish bets on the stock. This can lessen downside pressure over the near term. MarketBeat OSK profile
• Positive Sentiment: At least one analyst raised their price target and expressed more optimism for 2026 after reviewing results, which could support the shares if others follow. I’m More Positive In 2026 Than 2025, Raising My Price Target
• Neutral Sentiment: Company provided full press release, slide deck and an earnings call transcript — investors can review management commentary and guidance details to refine expectations. Oshkosh press release / slide deck
• Neutral Sentiment: Multiple outlets published the earnings call transcript and Q4 previews/snapshots — useful for parsing margin drivers, segment performance and any forward guidance the market will react to. OSK Q4 2025 Earnings Call Transcript
• Negative Sentiment: EPS missed consensus — Oshkosh reported $2.26 EPS versus the $2.33 estimate (and versus $2.58 Y/Y), which is a key driver of the stock’s weakness as profitability contracted versus prior year. Oshkosh (OSK) Q4 Earnings Miss Estimates
• Negative Sentiment: Market reaction: commentary and headlines emphasize the EPS miss and margin pressures, prompting intraday selling despite the revenue beat and boosting volume. Short‑term sentiment is negative until guidance or margin trends look more encouraging. Why Oshkosh (OSK) shares are sliding today

Institutional Trading of Oshkosh

A number of hedge funds have recently added to or reduced their stakes in OSK. Goldman Sachs Group Inc. raised its stake in shares of Oshkosh by 43.4% during the first quarter. Goldman Sachs Group Inc. now owns 225,130 shares of the company’s stock worth $21,180,000 after purchasing an additional 68,165 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Oshkosh by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 188,191 shares of the company’s stock worth $17,705,000 after acquiring an additional 14,122 shares during the period. Focus Partners Wealth acquired a new stake in shares of Oshkosh in the 1st quarter worth $567,000. Sivia Capital Partners LLC purchased a new stake in shares of Oshkosh in the second quarter valued at about $325,000. Finally, California Public Employees Retirement System increased its stake in shares of Oshkosh by 1.3% during the second quarter. California Public Employees Retirement System now owns 111,199 shares of the company’s stock worth $12,626,000 after acquiring an additional 1,404 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

Oshkosh Company Profile

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.