Oshkosh Corp
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +3.54%.
Did OSK Beat Earnings? Q2 2025 Results
Oshkosh Corporation posted a convincing fiscal second-quarter 2025 beat, with adjusted EPS of $3.41 clearing the $2.95 consensus estimate by 15.70% and revenue of $2.73 billion topping expectations by 2.65%, even as consolidated sales slipped 4.0% year-over-year. The headline driver was a standout performance in the Vocational segment, where sales surged 15.0% to $969.70 million and operating income jumped 38.3%, more than compensating for pressure in the Access segment, which saw revenue fall 10.7% amid the expiration of a Caterpillar-branded telehandler agreement and softer European demand. GAAP operating income climbed 11.8% to $291.70 million, aided by significantly lower intangible asset impairment charges compared to a year ago. Management raised its full-year adjusted EPS guidance to approximately $11.00, citing strong execution and a more limited tariff impact than initially feared, with cost reduction actions expected to absorb remaining headwinds, while the net sales outlook of approximately $10.60 billion held steady, a reassuring signal <a href="https://247wallst.com/investing/2025/07/23/stock-market-live-july-23-japan-trade-deal-news-drives-sp-500-voo-to-new-highs/">for equity markets</a> navigating an uncertain macro backdrop.
- Improved price/cost dynamics in Vocational segment
- Higher Vocational sales volume driven by municipal fire apparatus and airport products
- Lower intangible asset impairments reducing corporate expenses by $45.9 million year-over-year
- Improved pricing under recent Family of Heavy Tactical Vehicles contracts
- NGDV ramp-up partially offsetting JLTV wind-down in Transport segment
- AUSA acquisition contributing to Access segment sales
“We delivered a strong second quarter, with adjusted earnings per share of $3.41, up 2.1 percent from the prior year, reflecting disciplined execution and broad-based strength across our portfolio. Our Vocational segment continued to perform well, and our Access segment remained resilient and delivered another impressive quarter, helping to drive solid overall results.”
Oshkosh CEO, on the earnings call
Forward Guidance & Outlook
Oshkosh raised its full-year 2025 GAAP diluted EPS guidance to approximately $10.25 and adjusted EPS to approximately $11.00. The company continues to expect net sales of approximately $10.6 billion. The revised estimates reflect a more limited tariff impact than anticipated last quarter due to pauses and revisions to tariff rates and strong Q2 performance. Adjusted EPS guidance is consistent with the original January outlook as anticipated tariff impacts are expected to be offset by company-wide cost reduction actions. Estimates include direct tariff impacts based on rates as of July 30 but do not reflect potential future indirect impacts including weaker macroeconomic conditions.
OSK YoY Financials
OSK Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.