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

Oshkosh (NYSE:OSK) released its earnings results on Thursday. The company reported $2.41 EPS for the quarter, missing the consensus estimate of $3.06 by ($0.65), Zacks reports. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.94 billion. Oshkosh had a return on equity of 12.95% and a net margin of 5.24%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.20 EPS.

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 Down 2.8%

NYSE OSK traded down $3.81 during trading hours on Thursday, hitting $134.12. The company’s stock had a trading volume of 1,163,189 shares, compared to its average volume of 741,100. Oshkosh has a 52 week low of $116.77 and a 52 week high of $180.49. The company has a market capitalization of $8.28 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 1.00 and a beta of 1.26. The company has a current ratio of 1.72, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $140.39 and its two-hundred day simple moving average is $146.53.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OSK shares. DA Davidson lifted their price target on shares of Oshkosh from $168.00 to $176.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Zacks Research downgraded Oshkosh from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Truist Financial cut their price target on Oshkosh from $196.00 to $174.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Robert W. Baird raised their price objective on Oshkosh from $172.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, Citigroup decreased their price objective on Oshkosh from $155.00 to $135.00 and set a “neutral” rating for the company in a report on Monday, October 12th. Eleven equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.79.

Key Stories Impacting Oshkosh

Here are the key news stories impacting Oshkosh this week:

• Positive Sentiment: Third-quarter revenue increased 5.6% year over year to $2.84 billion, indicating continued growth despite falling short of analysts’ $2.94 billion forecast. Reports also highlighted a potential defense-energy partnership and argued that Oshkosh may be undervalued, which could support the longer-term investment case. Oshkosh Corporation Reports 2026 Third Quarter Results Oshkosh Stock May Be 44% Undervalued After Defense Energy Partnership
• Neutral Sentiment: Bernstein maintained a Hold rating, suggesting the firm sees a balanced risk-reward profile rather than a clear near-term catalyst. Bernstein Sticks to Their Hold Rating for Oshkosh
• Negative Sentiment: Oshkosh reported third-quarter adjusted earnings of $2.41 per share, below consensus estimates ranging from $3.01 to $3.06 and down from $3.20 a year earlier. The earnings shortfall signals weaker profitability than expected. Oshkosh Misses Q3 Earnings and Revenue Estimates
• Negative Sentiment: Revenue also missed expectations by roughly $100 million, while the company revised its fiscal 2026 financial outlook. The guidance change adds uncertainty about full-year earnings and likely reinforced selling pressure. Oshkosh Updates FY26 Financial Outlook Oshkosh Revises Earnings Guidance for 2026

Insider Activity at Oshkosh

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 $22,600,350. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.64% of the stock is currently owned by company insiders.

Oshkosh Company Profile

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.