Oshkosh (OSK) Q2 2026 Earnings
How Did OSK Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +4.08%.
Did OSK Beat Earnings? Q2 2026 Results
Yes. Oshkosh reported Q2 2026 earnings of $2.87 a share on Jul 28, 2026, beating the $2.61 consensus estimate by 10.1%. Revenue was $2.9B against a $2.8B estimate.
Oshkosh Corporation delivered a stronger-than-expected second quarter for fiscal 2026, with adjusted EPS of $2.87 beating the Wall Street consensus of $2.61 by 10.06% and revenue of $2.92 billion topping estimates by 4.58% on 6.7% year-over-year growth. The topline strength was broad-based, led by a 9.4% jump in Access segment sales to $1.37 billion and an 11.9% surge in Transport to $536.10 million as the Next Generation Delivery Vehicle production ramp gathered momentum. Yet profitability told a more complicated story, with GAAP operating income falling 16.6% to $243.20 million as unfavorable sales mix and higher manufacturing overhead weighed on margins. The quarter's bottom line also received a boost from a $16.70 million discrete tax benefit that pulled the effective tax rate down to 16.9% from 24.1% a year earlier. Looking ahead, Oshkosh raised its full-year revenue outlook to approximately $11.20 billion while trimming adjusted EPS guidance by roughly $0.50 to approximately $11.00, citing slower-than-expected progress in fire truck manufacturing transformation as the key constraint on near-term earnings improvement.
- Higher sales volume and improved pricing drove 6.7% revenue growth
- Unfavorable sales mix and higher manufacturing overhead costs pressured operating margins
- Strong access equipment orders of $1.5 billion
- NGDV production ramp-up offset by lower defense sales volume in Transport segment
- Discrete tax benefit of $16.7 million from expiration of foreign anti-hybrid tax statute of limitations
- One-time $16.6 million NGDV performance obligation recognition in Transport
“Our second quarter earnings per share reflects the dedication of our team members and the strength of our innovative, purpose-built products. We are seeing strong demand for access equipment highlighted by robust orders of $1.5 billion. We remain focused on ramping-up Next Generation Delivery Vehicle (NGDV) production and modernizing legacy manufacturing processes in our Vocational segment.”
Oshkosh CEO, on the earnings call
What Is Oshkosh's Outlook?
Oshkosh updated its 2026 full-year outlook, now expecting GAAP diluted EPS of approximately $10.50 and adjusted EPS of approximately $11.00, down approximately $0.50 from prior guidance due to a more gradual improvement in fire truck throughput than previously expected. Full-year net sales expectations were raised to approximately $11.2 billion, up $200 million from prior guidance. The company continues to ramp up NGDV production and transform fire truck manufacturing operations.
OSK YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.9B | $2.7B | +6.7% |
| Gross Profit | $480.3M | $524.5M | −8.4% |
| Operating Income | $243.2M | $291.7M | −16.6% |
| Net Income | $183.2M | $204.8M | −10.6% |
OSK Revenue by Segment
When Does Oshkosh Report Next?
Figures from SEC filings and company reports. Not investment advice.