Q1 26 EPS
$0.85
MISS 18.25%
Est. $1.04
Q1 26 Revenue
$2.32B
BEAT +1.11%
Est. $2.29B
vs S&P Since Q1 26
-7.7%
TRAILING MARKET
OSK -6.7% vs S&P +1.0%
Market Reaction
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 bo… Read more 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
OSK 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, source: SEC Filings
OSK Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— John Pfeifer, Q1 2026 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% |