Q3 25 EPS
$3.20
BEAT +3.32%
Est. $3.10
Q3 25 Revenue
$2.69B
MISS 5.06%
Est. $2.83B
vs S&P Since Q3 25
+2.0%
BEATING MARKET
OSK +11.6% vs S&P +9.6%
Market Reaction
Did OSK Beat Earnings? Q3 2025 Results
Oshkosh Corporation delivered a mixed third quarter for fiscal 2025, beating on the bottom line while falling short on revenue, as diverging segment dynamics defined the period. Adjusted EPS came in at $3.20, ahead of the $3.10 consensus estimate by … Read more Oshkosh Corporation delivered a mixed third quarter for fiscal 2025, beating on the bottom line while falling short on revenue, as diverging segment dynamics defined the period. Adjusted EPS came in at $3.20, ahead of the $3.10 consensus estimate by 3.32%, but consolidated net sales slipped 1.9% year-over-year to $2.69 billion, trailing analyst expectations of $2.83 billion by roughly 5%. The central story was a sharp deterioration in the Access segment, where revenue tumbled 18.6% to $1.11 billion on weaker North American volumes and elevated sales discounts, squeezing operating margin to 10.6% from 15.2% a year earlier. That drag was partially countered by a 18.9% surge in Vocational sales to $968.00 million, where improved pricing and faster production rates expanded margins to 14.6%. Looking ahead, Oshkosh trimmed its full-year adjusted EPS outlook to a range of $10.50 to $11.00 and cut its net sales forecast to $10.30 billion to $10.40 billion, citing softer expected volumes in both Transport and Access amid a challenging macroeconomic backdrop.
Key Takeaways
- • Strong Vocational segment execution with nearly 19% revenue increase driven by increased production rates and improved pricing
- • Access segment headwinds from reduced North American sales volume and higher sales discounts
- • Transport segment benefited from NGDV production ramp, higher international tactical wheeled vehicle sales, and $25M IP license
- • Cost discipline and lower SG&A expenses partially offset lower sales volume
- • $19.1 million tax benefit from resolution of multi-year U.S. federal income tax audit
- • Improved pricing across segments offset by higher warranty costs
OSK YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
OSK Revenue by Segment
With YoY comparisons, source: SEC Filings
“Oshkosh delivered solid third quarter results in a difficult environment, with adjusted earnings per share of $3.20 and an adjusted operating margin of 10.2 percent.”
— John Pfeifer, Q3 2025 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% |