Oshkosh (NYSE:OSK) Announces Earnings Results, Misses Expectations By $0.19 EPS

Oshkosh (NYSE:OSK) announced its earnings results on Friday. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.19), Zacks reports. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Oshkosh had a net margin of 6.21% and a return on equity of 15.69%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 earnings per share. Oshkosh updated its FY 2026 guidance to 11.500-11.500 EPS.

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

• Consolidated Q1 results: sales of ~$2.3 billion and adjusted EPS of $0.85, modestly below prior expectations, while management is maintaining full-year adjusted EPS guidance of $11.50.
• Access momentum: orders exceeded $1.5 billion in Q1 with a book-to-bill of 1.6 and backlog of $1.8 billion, signaling improving demand (including mega projects and data center activity) despite a dynamic tariff/cost environment.
• Vocational execution drag: backlog remains strong at $6.6 billion but Q1 shipments—especially fire trucks—fell short due to weather/travel and facility timing, prompting targeted capacity investments (previously ~$150M planned) and an expectation that 2026 margins may sit below the prior 17% midpoint though within a 16–18% long-term range.
• Transport/NGDV ramp progressing: NGDV production is on track (fleet >20M miles, operating in 48 states), delivery revenue is building and the company is assuming an additional USPS order this year, with higher production and margin contribution expected in the back half.
• Balance sheet and tariff actions: free cash flow improved to negative $189 million (vs. -$435M prior year), the company recorded a ~$13M IEPA benefit in Q1 (?$23M full-year estimate) that management expects will largely offset Section 232 tariff expansion, repurchased ~$47M of stock, and refinanced a $1.6 billion revolver at a slightly lower rate.

Oshkosh Trading Down 9.9%

NYSE:OSK opened at $137.93 on Friday. The company has a 50-day moving average price of $151.80 and a 200-day moving average price of $144.33. Oshkosh has a 12 month low of $90.74 and a 12 month high of $180.49. The company has a current ratio of 1.94, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 0.79 and a beta of 1.33.

Oshkosh Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $2.28 annualized dividend and a yield of 1.7%. Oshkosh’s dividend payout ratio is 22.75%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OSK shares. Bank of America raised shares of Oshkosh from an “underperform” rating to a “neutral” rating and set a $149.00 target price on the stock in a research note on Tuesday, February 3rd. Robert W. Baird set a $182.00 target price on shares of Oshkosh in a research note on Friday, January 30th. Zacks Research raised shares of Oshkosh from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Raymond James Financial reissued an “outperform” rating and set a $175.00 price target on shares of Oshkosh in a research note on Monday, March 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Oshkosh in a research note on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.56.

Insider Buying and Selling at Oshkosh

In other news, SVP Anupam Khare sold 4,000 shares of Oshkosh stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $169.07, for a total transaction of $676,280.00. Following the sale, the senior vice president owned 13,577 shares of the company’s stock, valued at approximately $2,295,463.39. The trade was a 22.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Oshkosh

A number of large investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Oshkosh during the 4th quarter valued at about $246,000. Invesco Ltd. boosted its stake in shares of 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 purchasing an additional 300,766 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Oshkosh by 9.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,853 shares of the company’s stock valued at $1,112,000 after buying an additional 751 shares in the last quarter. Caitlin John LLC boosted its holdings in shares of Oshkosh by 2,700.9% during the 4th quarter. Caitlin John LLC now owns 3,081 shares of the company’s stock valued at $387,000 after buying an additional 2,971 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Oshkosh during the 4th quarter valued at $394,000. Institutional investors own 92.36% of the company’s stock.

Oshkosh News Summary

Here are the key news stories impacting Oshkosh this week:

• Positive Sentiment: Oshkosh reported revenue of $2.32 billion, topping Wall Street’s estimate of $2.29 billion, and the company also reaffirmed upbeat FY 2026 guidance for EPS of $11.50 and revenue of about $11.0 billion. Earnings release and conference call
• Positive Sentiment: The board also declared a quarterly dividend of $0.57 per share, signaling continued cash returns to shareholders.
• Neutral Sentiment: Shareholders backed the company’s board, pay, and governance direction at the annual meeting, reducing governance uncertainty. Shareholder update
• Negative Sentiment: Adjusted quarterly EPS of $0.85 missed analyst estimates of $1.04 and fell sharply from $1.92 a year ago, reinforcing concerns about slowing profitability. Earnings miss article
• Negative Sentiment: Several market recaps highlighted that the stock dropped after the report, with commentary pointing to Oshkosh needing to restart its growth engine to regain investor confidence. Market commentary

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.