Q3 22 EPS
$1.00
MISS 18.70%
Est. $1.23
Q3 22 Revenue
$2.07B
MISS 4.47%
Est. $2.16B
vs S&P Since Q3 22
-14.8%
TRAILING MARKET
OSK +76.7% vs S&P +91.5%
Market Reaction
Did OSK Beat Earnings? Q3 2022 Results
Oshkosh Corporation delivered a disappointing fiscal third quarter, missing Wall Street expectations on both the top and bottom lines as supply chain disruptions continued to weigh heavily on results. Adjusted EPS came in at $1.00, falling short of t… Read more Oshkosh Corporation delivered a disappointing fiscal third quarter, missing Wall Street expectations on both the top and bottom lines as supply chain disruptions continued to weigh heavily on results. Adjusted EPS came in at $1.00, falling short of the $1.23 consensus estimate by 18.70%, while revenue of $2.07 billion trailed the $2.16 billion expectation by 4.47%, leaving sales nearly flat at just 0.2% growth year-over-year. The single biggest culprit was parts shortages, which the company estimates cost roughly $130 million in revenue versus internal plans, a headwind that hit the Defense segment particularly hard, where a 20.2% revenue decline and a near-total collapse in operating income underscored the fragility of that business under current conditions. Bright spots existed, notably in Access Equipment, where pricing gains helped expand margins sharply, and the company's total backlog swelled to $12.99 billion, pointing to durable future demand. Oshkosh reaffirmed full-year revenue guidance of approximately $8.30 billion and adjusted EPS of approximately $3.50, while trimming its GAAP EPS outlook modestly to approximately $3.15.
Key Takeaways
- • Pricing actions to combat inflation driving strong price realization
- • Access Equipment segment 22.7% revenue growth and 700+ bps operating margin improvement
- • Supply chain disruptions limiting production rates and causing ~$130 million revenue shortfall
- • Unfavorable cumulative catch-up adjustments of $15.4 million in Defense segment
- • Foreign currency headwinds reducing sales by $18.3 million
OSK YoY Financials
Q3 2022 vs Q3 2021, source: SEC Filings
OSK Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased with the strong sequential quarterly earnings growth Oshkosh team members delivered, which demonstrates that our pricing actions to combat inflation are working. Supply chain disruptions remain our most significant challenge and continue to limit our production rates and contribute to manufacturing inefficiencies. Supply chain factors were the primary driver which led to a revenue shortfall of approximately $130 million compared to our expectations for the quarter. Despite the revenue shortfall, our adjusted operating income of $114 million, led by strong price realization, was in line with our expectations.”
— John C. Pfeifer, Q3 2022 Earnings Press Release
OSK Earnings Trends
OSK vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
OSK EPS Trend
Earnings per share: estimate vs actual
OSK Revenue Trend
Quarterly revenue: estimate vs actual
OSK Quarterly Results
10 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $1.04 | $0.85 | -18.25% | $2.32B | +1.11% |
| Q4 25 MISS FY | $2.31 | $2.26 | -2.24% | $2.69B | +3.53% |
| FY Full Year | $10.86 | $10.79 | -0.63% | $10.42B | +0.88% |
| Q3 25 BEAT | $3.10 | $3.20 | +3.32% | $2.69B | -5.06% |
| Q2 25 BEAT | $2.95 | $3.41 | +15.70% | $2.73B | +2.65% |
| Q4 24 BEAT FY | $2.18 | $2.58 | +18.21% | $2.62B | +8.47% |
| FY Full Year | $11.33 | $11.74 | +3.61% | $10.76B | +1.99% |
| Q2 24 BEAT | $2.98 | $3.34 | +12.08% | $2.85B | +3.39% |
| Q1 24 BEAT | $2.25 | $2.89 | +28.44% | $2.54B | +2.41% |
| Q2 23 BEAT | $1.62 | $2.69 | +66.05% | $2.41B | +7.62% |
| Q4 22 MISS FY | $1.73 | $1.60 | -7.51% | $2.20B | +0.95% |
| FY Full Year | — | $3.46 | — | $8.28B | — |
| Q3 22 MISS | $1.23 | $1.00 | -18.70% | $2.07B | -4.47% |