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

Oshkosh (NYSE:OSK) issued its quarterly 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. Oshkosh had a net margin of 6.21% and a return on equity of 15.69%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the firm posted $1.92 earnings per share. Oshkosh’s revenue was up .2% compared to the same quarter last year. 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 Price Performance

Shares of OSK opened at $137.93 on Friday. The company has a market cap of $8.64 billion, a P/E ratio of 15.36, a PEG ratio of 0.71 and a beta of 1.33. The stock has a fifty day moving average price of $151.80 and a 200 day moving average price of $144.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.94 and a quick ratio of 1.05. Oshkosh has a 12 month low of $90.74 and a 12 month high of $180.49.

Oshkosh Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OSK. JPMorgan Chase & Co. lowered their price target on Oshkosh from $182.00 to $158.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Zacks Research upgraded Oshkosh from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen upgraded Oshkosh from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. UBS Group upped their price objective on Oshkosh from $167.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Oshkosh in a research note on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.56.

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

Insider Activity

In other news, SVP Anupam Khare sold 4,000 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $169.07, for a total value of $676,280.00. Following the completion of the transaction, the senior vice president owned 13,577 shares of the company’s stock, valued at approximately $2,295,463.39. This represents a 22.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OSK. Goldman Sachs Group Inc. grew its stake in shares of Oshkosh by 43.4% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Oshkosh by 8.1% in the first 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 purchasing an additional 14,122 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Oshkosh in the first quarter worth $567,000. Sivia Capital Partners LLC bought a new position in shares of Oshkosh in the second quarter worth $325,000. Finally, California Public Employees Retirement System grew its stake in shares of Oshkosh by 1.3% in the second quarter. California Public Employees Retirement System now owns 111,199 shares of the company’s stock worth $12,626,000 after purchasing an additional 1,404 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

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.