Q2 24 EPS
$3.34
BEAT +12.08%
Est. $2.98
Q2 24 Revenue
$2.85B
BEAT +3.39%
Est. $2.75B
vs S&P Since Q2 24
-4.4%
TRAILING MARKET
OSK +32.8% vs S&P +37.2%
Market Reaction
Did OSK Beat Earnings? Q2 2024 Results
Oshkosh Corporation delivered a stronger-than-expected second quarter, with adjusted EPS of $3.34 beating the $2.98 consensus estimate by 12.08% and revenue of $2.85 billion topping forecasts by 3.39% as sales climbed 18.0% year over year. The stando… Read more Oshkosh Corporation delivered a stronger-than-expected second quarter, with adjusted EPS of $3.34 beating the $2.98 consensus estimate by 12.08% and revenue of $2.85 billion topping forecasts by 3.39% as sales climbed 18.0% year over year. The standout driver was broad-based volume growth across all three business segments, amplified by $192.00 million in contributions from the newly acquired AeroTech business within a Vocational segment that saw sales surge 43.5% to $843.10 million. The headline results were clouded, however, by a $51.60 million intangible asset impairment at Pratt Miller that pushed GAAP EPS down to $2.56 from $2.67 a year ago and produced a GAAP operating loss in the Defense segment. Looking ahead, management raised its full-year adjusted EPS guidance to approximately $11.75 from $11.25, while trimming its GAAP EPS outlook modestly to $10.45, with full-year revenue held steady at approximately $10.70 billion and a consolidated backlog of $15.37 billion providing visibility into 2025.
Key Takeaways
- • Favorable price/cost dynamics across segments
- • Higher organic sales volume in all three segments
- • AeroTech acquisition contributing $192 million in Vocational segment sales
- • Higher North America sales volume in Access segment
- • Higher FMTV sales volume and NGDV production commencement in Defense
- • Improved sales mix in Access segment
OSK YoY Financials
Q2 2024 vs Q2 2023, source: SEC Filings
OSK Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased to report another quarter of strong performance highlighted by growth in revenue, adjusted operating income and adjusted earnings per share. In the second quarter, we grew revenues by 18 percent and adjusted operating income by 36 percent, leading to an adjusted operating margin of 11.5 percent and adjusted earnings per share of $3.34. Our exceptional performance is a testament to the outstanding execution of our 18,000 Oshkosh team members who share a passion for our mission.”
— John Pfeifer, Q2 2024 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% |