Oshkosh (OSK) Q2 2026 Earnings
How Did OSK Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +4.08%.
Did OSK Beat Earnings? Q2 2026 Results
Yes. Oshkosh reported Q2 2026 earnings of $2.87 a share on Jul 28, 2026, beating the $2.61 consensus estimate by 10.1%. Revenue was $2.9B against a $2.8B estimate.
Oshkosh Corporation delivered a stronger-than-expected second quarter for fiscal 2026, with adjusted EPS of $2.87 beating the Wall Street consensus of $2.61 by 10.06% and revenue of $2.92 billion topping estimates by 4.58% on 6.7% year-over-year growth. The topline strength was broad-based, led by a 9.4% jump in Access segment sales to $1.37 billion and an 11.9% surge in Transport to $536.10 million as the Next Generation Delivery Vehicle production ramp gathered momentum. Yet profitability told a more complicated story, with GAAP operating income falling 16.6% to $243.20 million as unfavorable sales mix and higher manufacturing overhead weighed on margins. The quarter's bottom line also received a boost from a $16.70 million discrete tax benefit that pulled the effective tax rate down to 16.9% from 24.1% a year earlier. Looking ahead, Oshkosh raised its full-year revenue outlook to approximately $11.20 billion while trimming adjusted EPS guidance by roughly $0.50 to approximately $11.00, citing slower-than-expected progress in fire truck manufacturing transformation as the key constraint on near-term earnings improvement.
- Higher sales volume and improved pricing drove 6.7% revenue growth
- Unfavorable sales mix and higher manufacturing overhead costs pressured operating margins
- Strong access equipment orders of $1.5 billion
- NGDV production ramp-up offset by lower defense sales volume in Transport segment
- Discrete tax benefit of $16.7 million from expiration of foreign anti-hybrid tax statute of limitations
- One-time $16.6 million NGDV performance obligation recognition in Transport
“Our second quarter earnings per share reflects the dedication of our team members and the strength of our innovative, purpose-built products. We are seeing strong demand for access equipment highlighted by robust orders of $1.5 billion. We remain focused on ramping-up Next Generation Delivery Vehicle (NGDV) production and modernizing legacy manufacturing processes in our Vocational segment.”
Oshkosh CEO, on the earnings call
What Was Oshkosh's Outlook in Q2 2026?
Oshkosh updated its 2026 full-year outlook, now expecting GAAP diluted EPS of approximately $10.50 and adjusted EPS of approximately $11.00, down approximately $0.50 from prior guidance due to a more gradual improvement in fire truck throughput than previously expected. Full-year net sales expectations were raised to approximately $11.2 billion, up $200 million from prior guidance. The company continues to ramp up NGDV production and transform fire truck manufacturing operations.
OSK YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.9B | $2.7B | +6.7% |
| Gross Profit | $480.3M | $524.5M | −8.4% |
| Operating Income | $243.2M | $291.7M | −16.6% |
| Net Income | $183.2M | $204.8M | −10.6% |
OSK Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.