Companies /Industrials

Oshkosh Corp

NYSE: OSK Farm & Heavy Construction Machinery
$157.25
▲ $0.89 (+0.57%) today
Markets open · 10:19am ET

Q1 2026 Earnings

Reported May 8, 2026, 8:01am ET · SEC source
$0.85
Miss −18.25%
EPS · est. $1.04
$2.3B
Beat +1.11%
Revenue · est. $2.3B
−6.3%
Trailing market
OSK vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%May 8May 8report 8:01am ETearnings+0.3%−2.1%
−4%0+4%May 8May 8earnings+0.3%−2.1%
OSK −2.1%S&P 500 +0.3%
−4%0+4%May 8May 8report 8:01am ETearnings+1.6%−2.1%
−4%0+4%May 8May 8earnings+1.6%−2.1%
OSK −2.1%NASDAQ +1.6%
−16%−8%0+8%May 7May 15report 8:01am ETearnings+0.3%−14.6%
−16%−8%0+8%May 7May 15earnings+0.3%−14.6%
OSK −14.6%S&P 500 +0.3%
−16%−8%0+8%May 7May 15report 8:01am ETearnings+1.0%−14.6%
−16%−8%0+8%May 7May 15earnings+1.0%−14.6%
OSK −14.6%NASDAQ +1.0%
−9.86%
Day of report
−2.86%
Next session
−12.74%
One week
−7.99%
30 days

S&P 500 over the same 30 days: −1.65%.

Did OSK Beat Earnings? Q1 2026 Results

Oshkosh Corporation delivered a disappointing fiscal first quarter for 2026, posting adjusted EPS of $0.85 against a consensus estimate of $1.04, an 18.25% miss that extended the company's streak to two consecutive quarters of falling short on the bottom line. Revenue of $2.32 billion edged ahead of expectations by 1.11% but was essentially unchanged from a year ago, rising just 0.2% as pricing and currency adjustments offset weaker volume. The most significant drag on profitability came from the Access segment, where operating income plunged 66.3% to $34.70 million on adverse sales mix and unfavorable price-cost dynamics, pulling consolidated operating margin down to 3.5% from 7.6% in the prior-year quarter. A relative bright spot was the Transport segment, where surging Next Generation Delivery Vehicle production for the U.S. Postal Service lifted sales 10.8% to $512.80 million. Analysts at multiple firms lowered price targets following the report, though management reaffirmed its full-year 2026 adjusted EPS guidance of approximately $11.50 on net sales of roughly $11.00 billion, citing solid demand visibility across segments for the remainder of the year.

Key Takeaways
  • Adverse sales mix in Access and Vocational segments
  • Unfavorable price-cost dynamics in Access segment
  • Higher manufacturing overhead costs across segments
  • Lower sales volume in Access and Vocational segments
  • NGDV production ramp-up driving Transport growth
  • Lower adverse cumulative catch-up adjustments in Transport
  • Weather- and travel-related disruptions impacting fire truck deliveries
  • Improvements at Pratt Miller reducing corporate costs

“We delivered first quarter adjusted earnings per share of $0.85 reflecting lower results in our Access and Vocational segments compared with last year. While fire truck production improved year-over-year, deliveries were below our expectations, driven in part by weather- and travel-related disruptions.”

Oshkosh CEO, on the earnings call

Forward Guidance & Outlook

Oshkosh maintains its full-year 2026 outlook, expecting GAAP diluted EPS of approximately $10.90 and adjusted EPS of approximately $11.50, on net sales of approximately $11.0 billion. Management cited solid demand across all segments and good visibility for the remainder of the year. The NGDV production ramp for the U.S. Postal Service is expected to continue driving Transport segment growth.

OSK YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$700.0M$1.4B$2.1B$2.3B$2.3BRevenue$399.9M$311.9MGross Profit$175.4M$82.0MOperating Income$112.2M$43.1MNet Income
$0$700.0M$1.4B$2.1BRevenueGross ProfitOperating IncomeNet Income

OSK Revenue by Segment

Access$943.4M
Vocational$825.0M
Aerial work platforms$431.0M
Aerial Work Platforms
Transport$512.8M
Defense$296.2M
Defense vehicles
Telehandlers$208.2M

Figures from SEC filings and company reports. Not investment advice.