Oshkosh (NYSE:OSK) Releases Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Key Points

• Oshkosh missed earnings expectations in Q1, reporting adjusted EPS of $0.85 versus the $1.04 consensus, even though revenue of $2.32 billion slightly topped estimates.
• The company kept full-year FY2026 EPS guidance at $11.50 and also pointed to expected revenue of about $11.0 billion, signaling confidence despite the quarterly earnings miss.
• Operationally, Oshkosh highlighted strong demand and backlog, with orders above $1.5 billion and a book-to-bill of 1.6, but noted vocational shipments and margins were pressured by timing, weather, and facility-related issues.

Oshkosh (NYSE:OSK - Get Free Report) posted its quarterly earnings results on Friday. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.19), Zacks reports. Oshkosh had a return on equity of 15.69% and a net margin of 6.21%.The business had revenue of $2.32 billion for the quarter, compared to analysts' expectations of $2.29 billion. During the same period in the prior year, the business posted $1.92 earnings per share. The business's quarterly 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 Stock Down 9.9%

OSK traded down $15.13 on Friday, reaching $137.93. The company's stock had a trading volume of 1,539,229 shares, compared to its average volume of 743,529. The stock has a 50 day moving average of $151.80 and a two-hundred day moving average of $144.33. The company has a quick ratio of 1.05, a current ratio of 1.94 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 0.80 and a beta of 1.33. Oshkosh has a fifty-two week low of $90.74 and a fifty-two week high of $180.49.

Key Oshkosh News

Here are the key news stories impacting Oshkosh this week:

• Positive Sentiment: Company issued FY‑2026 guidance of $11.50 EPS and $11.0B revenue, above Street revenue and EPS consensus — a bullish sign for forward earnings expectations and valuation.
• Positive Sentiment: Shareholders re‑elected the board and backed the company’s pay and governance direction, removing near‑term proxy/governance overhangs. Oshkosh shareholders back board, pay and governance direction
• Neutral Sentiment: Q1 revenue of $2.32B slightly beat the ~$2.29B consensus and was essentially flat year‑over‑year (+0.2%), indicating stable top‑line performance. Q1 earnings call summary
• Neutral Sentiment: Analysts had adjusted expectations ahead of the release and offered mixed takes after the print, so near‑term analyst reaction and revisions will influence sentiment. Analyst expectations revamp ahead of Q1
• Negative Sentiment: Q1 EPS missed materially: $0.85 vs. ~$1.04 expected and down sharply from $1.92 a year ago, reflecting margin pressure and lower profitability that hurt investor confidence. Oshkosh misses Q1 earnings
• Negative Sentiment: Market reaction: the stock fell on the EPS miss despite the solid guide — higher trading volume suggests investors are re‑pricing near‑term profitability risks. Beats on revenue but stock drops

Insider Transactions at Oshkosh

In other news, SVP Anupam Khare sold 4,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oshkosh

Several hedge funds have recently modified their holdings of OSK. Sivia Capital Partners LLC purchased a new position in Oshkosh in the second quarter worth $325,000. Aviva PLC purchased a new position in Oshkosh in the fourth quarter worth $581,000. Wealthspire Advisors LLC raised its position in Oshkosh by 13.4% in the fourth quarter. Wealthspire Advisors LLC now owns 4,606 shares of the company's stock worth $579,000 after acquiring an additional 545 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in Oshkosh in the third quarter worth $502,000. Finally, CI Investments Inc. raised its position in Oshkosh by 421.0% in the fourth quarter. CI Investments Inc. now owns 3,225 shares of the company's stock worth $405,000 after acquiring an additional 2,606 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OSK has been the topic of a number of analyst reports. Truist Financial set a $183.00 price objective on shares of Oshkosh in a research note on Friday, January 30th. DA Davidson lifted their target price on shares of Oshkosh from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. Citigroup cut shares of Oshkosh from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $180.00 to $170.00 in a research note on Monday, April 13th. Sanford C. Bernstein set a $138.00 price target on Oshkosh in a report on Thursday, April 9th. Finally, Raymond James Financial restated an "outperform" rating and issued a $175.00 price objective on shares of Oshkosh in a report on Monday, March 2nd. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Oshkosh presently has an average rating of "Moderate Buy" and an average target price of $165.56.

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.

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