Oshkosh (NYSE:OSK) Issues Quarterly Earnings Results

Oshkosh (NYSE:OSK) released its earnings results on Friday. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.19), Zacks reports. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.29 billion. Oshkosh had a net margin of 6.21% and a return on equity of 15.69%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS. Oshkosh updated its FY 2026 guidance to 11.500-11.500 EPS.

Here are the key takeaways from Oshkosh’s conference call:

• Consolidated Q1 results: sales of ~$2.3 billion and adjusted EPS of $0.85, modestly below prior expectations, while management is maintaining full-year adjusted EPS guidance of $11.50.
• Access momentum: orders exceeded $1.5 billion in Q1 with a book-to-bill of 1.6 and backlog of $1.8 billion, signaling improving demand (including mega projects and data center activity) despite a dynamic tariff/cost environment.
• Vocational execution drag: backlog remains strong at $6.6 billion but Q1 shipments—especially fire trucks—fell short due to weather/travel and facility timing, prompting targeted capacity investments (previously ~$150M planned) and an expectation that 2026 margins may sit below the prior 17% midpoint though within a 16–18% long-term range.
• Transport/NGDV ramp progressing: NGDV production is on track (fleet >20M miles, operating in 48 states), delivery revenue is building and the company is assuming an additional USPS order this year, with higher production and margin contribution expected in the back half.
• Balance sheet and tariff actions: free cash flow improved to negative $189 million (vs. -$435M prior year), the company recorded a ~$13M IEPA benefit in Q1 (≈$23M full-year estimate) that management expects will largely offset Section 232 tariff expansion, repurchased ~$47M of stock, and refinanced a $1.6 billion revolver at a slightly lower rate.

Oshkosh Stock Down 9.9%

Shares of NYSE:OSK traded down $15.13 during mid-day trading on Friday, reaching $137.93. 1,835,371 shares of the stock were exchanged, compared to its average volume of 748,368. The company has a quick ratio of 1.05, a current ratio of 1.94 and a debt-to-equity ratio of 0.24. The company has a market cap of $8.64 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.80 and a beta of 1.33. Oshkosh has a one year low of $90.74 and a one year high of $180.49. The stock’s 50 day simple moving average is $151.80 and its 200-day simple moving average is $144.33.

Oshkosh Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, May 26th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.7%. Oshkosh’s dividend payout ratio (DPR) is presently 22.75%.

Insider Activity

In related news, SVP Anupam Khare sold 4,000 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $169.07, for a total transaction of $676,280.00. Following the completion of the transaction, the senior vice president directly owned 13,577 shares in the company, valued at approximately $2,295,463.39. This trade represents a 22.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OSK. Goldman Sachs Group Inc. grew its stake in Oshkosh by 43.4% in the first quarter. Goldman Sachs Group Inc. now owns 225,130 shares of the company’s stock valued at $21,180,000 after purchasing an additional 68,165 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Oshkosh by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 188,191 shares of the company’s stock valued at $17,705,000 after purchasing an additional 14,122 shares in the last quarter. Focus Partners Wealth bought a new position in Oshkosh in the first quarter valued at approximately $567,000. Sivia Capital Partners LLC bought a new position in Oshkosh in the second quarter valued at approximately $325,000. Finally, California Public Employees Retirement System grew its stake in Oshkosh by 1.3% in the second quarter. California Public Employees Retirement System now owns 111,199 shares of the company’s stock valued at $12,626,000 after purchasing an additional 1,404 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Robert W. Baird set a $182.00 price target on Oshkosh in a research report on Friday, January 30th. Zacks Research raised Oshkosh from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Morgan Stanley raised their price target on Oshkosh from $144.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Monday, April 6th. Wall Street Zen raised Oshkosh from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Sanford C. Bernstein set a $138.00 price target on Oshkosh in a research report on Thursday, April 9th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Oshkosh currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.56.

Key Headlines Impacting Oshkosh

Here are the key news stories impacting Oshkosh this week:

• Positive Sentiment: Company issued FY‑2026 guidance of $11.50 EPS and $11.0B revenue, above Street revenue and EPS consensus — a bullish sign for forward earnings expectations and valuation.
• Positive Sentiment: Shareholders re‑elected the board and backed the company’s pay and governance direction, removing near‑term proxy/governance overhangs. Oshkosh shareholders back board, pay and governance direction
• Neutral Sentiment: Q1 revenue of $2.32B slightly beat the ~$2.29B consensus and was essentially flat year‑over‑year (+0.2%), indicating stable top‑line performance. Q1 earnings call summary
• Neutral Sentiment: Analysts had adjusted expectations ahead of the release and offered mixed takes after the print, so near‑term analyst reaction and revisions will influence sentiment. Analyst expectations revamp ahead of Q1
• Negative Sentiment: Q1 EPS missed materially: $0.85 vs. ~$1.04 expected and down sharply from $1.92 a year ago, reflecting margin pressure and lower profitability that hurt investor confidence. Oshkosh misses Q1 earnings
• Negative Sentiment: Market reaction: the stock fell on the EPS miss despite the solid guide — higher trading volume suggests investors are re‑pricing near‑term profitability risks. Beats on revenue but stock drops

Oshkosh Company Profile

Oshkosh Corporation (NYSE: OSK) is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company’s offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.