Oshkosh po posledních výsledcích za měsíc přidal asi 10,3 %, ale snížil celoroční odhad upraveného zisku na zhruba 11 USD na akcii. Firma zároveň zvýšila výhled tržeb o 200 milionů USD.
It has been about a month since the last earnings report for Oshkosh (OSK - Free Report) . Shares have added about 10.3% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Oshkosh due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.
OSK Q2 Earnings BeatOshkosh reported second-quarter 2026 adjusted earnings of $2.87 per share, down 15.8% year over year. Earnings, however, beat the Zacks Consensus Estimate of $2.60 by 10.39%. Consolidated adjusted operating income declined 17.7% to $257.6 million, while adjusted operating margin fell to 8.8% from 11.5%. Unfavorable sales mix and higher manufacturing overhead costs impacted the results.
Revenues rose 6.7% to $2.92 billion and beat the consensus mark of $2.75 billion by 6.18%. Higher sales volume and improved pricing supported the top line. Period-end backlog reached $14.75 billion, led by sizable Vocational and Transport order books.
Access Sales Rise on Strong OrdersAccess segment sales increased 9.4% year over year to $1.37 billion, driven by higher sales volume and improved pricing. Aerial work platform revenues rose to $735.1 million from $638 million, while telehandler revenues declined to $263.3 million from $325.1 million.
Adjusted operating income fell to $155.8 million from $185.7 million. Adjusted operating margin contracted to 11.3% from 14.8% due to adverse product and customer mix, unfavorable price-cost dynamics, higher litigation reserves, increased selling and administrative costs, and greater product-development spending. Higher sales volume partly offset these pressures.
Orders reached $1.5 billion and backlog was $1.96 billion at the end of the quarter, supported by infrastructure projects, data centers and other large construction developments.
Vocational Margin Faces PressureVocational segment sales were nearly flat at $966.8 million. Higher municipal fire apparatus and airport product revenues were offset by lower refuse and recycling vehicle sales.
Adjusted operating income declined to $130.5 million from $157.9 million, with margin contracting to 13.5% from 16.3%. Adverse sales mix, higher manufacturing overhead and lower volume outweighed improved price-cost dynamics and lower incentive compensation accruals.
Fire truck shipments were roughly level with the prior-year quarter. Oshkosh expects production to increase about 10% in 2026 as it shifts from bay-based assembly to higher-flow production lines, though material-flow changes are taking longer than initially planned.
Transport Revenues Gain on NGDV RampTransport segment sales rose 11.9% to $536.1 million. Delivery vehicle revenues increased to $261.6 million from $107.1 million as production of the Next Generation Delivery Vehicle accelerated. Defense revenues fell to $274.5 million from $372 million.
Operating income decreased to $15.8 million from $17.8 million. Adverse mix and higher warranty and manufacturing overhead costs offset a $16.6 million one-time benefit tied to the NGDV program. Management expects margins to improve in the second half as NGDV production rises and revised defense contracts contribute.
Strong Free Cash FlowSecond-quarter free cash flow reached $348 million, up sharply from $49 million a year ago. The company repurchased about 667,000 shares for $92 million during the quarter. OSK declared a quarterly dividend of 57 cents per share, to be paid out on Aug. 27, 2026, to shareholders of record as of Aug. 13.
OSK Cuts Earnings Outlook on Fire Truck RampOshkosh now expects 2026 adjusted earnings of about $11 per share, down roughly 50 cents from its prior guidance. The revision reflects slower-than-expected improvement in fire truck production, more than offsetting the stronger outlook for the Access segment.
The company raised its full-year sales expectation by $200 million and continues to project free cash flow of $550-$650 million. Management expects fourth-quarter results to exceed third-quarter performance as fire truck production improves, NGDV output rises and defense work shifts to revised-price contracts.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates revision.
VGM ScoresCurrently, Oshkosh has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of A on the value side, putting it in the top 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Oshkosh has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerOshkosh belongs to the Zacks Automotive - Domestic industry. Another stock from the same industry, Tesla (TSLA - Free Report) , has gained 15.9% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
Tesla reported revenues of $28.24 billion in the last reported quarter, representing a year-over-year change of +25.5%. EPS of $0.33 for the same period compares with $0.40 a year ago.
Tesla is expected to post earnings of $0.47 per share for the current quarter, representing a year-over-year change of -6%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.3%.
Tesla has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
Bank of Nova Scotia ve 2. čtvrtletí získala novou pozici v Oshkosh, když nabyla 3 916 akcií za zhruba 601 000 USD. Oshkosh zároveň oznámila zisk na akcii 2,87 USD a tržby 2,92 miliardy USD, obojí nad odhady.
Bank of Nova Scotia bought a new position in shares of Oshkosh Corporation (NYSE:OSK – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,916 shares of the company’s stock, valued at approximately $601,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower View Wealth Management LLC bought a new position in Oshkosh during the first quarter worth about $29,000. Torren Management LLC acquired a new stake in shares of Oshkosh in the fourth quarter valued at approximately $30,000. Global Retirement Partners LLC boosted its stake in shares of Oshkosh by 284.9% during the 4th quarter. Global Retirement Partners LLC now owns 408 shares of the company’s stock worth $51,000 after acquiring an additional 302 shares during the period. Basepoint Wealth LLC bought a new position in shares of Oshkosh during the 4th quarter worth approximately $51,000. Finally, Whittier Trust Co. increased its holdings in shares of Oshkosh by 33.7% during the 1st quarter. Whittier Trust Co. now owns 373 shares of the company’s stock worth $55,000 after acquiring an additional 94 shares during the last quarter. 92.36% of the stock is owned by institutional investors.
Oshkosh Price Performance Shares of NYSE OSK opened at $156.93 on Friday. The business has a fifty day moving average price of $149.06 and a two-hundred day moving average price of $148.10. The stock has a market capitalization of $9.69 billion, a PE ratio of 17.96, a P/E/G ratio of 0.97 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.72 and a quick ratio of 0.96. Oshkosh Corporation has a fifty-two week low of $116.77 and a fifty-two week high of $180.49.
Oshkosh (NYSE:OSK – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.24. Oshkosh had a return on equity of 12.95% and a net margin of 5.24%.The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the firm posted $3.41 EPS. Oshkosh’s quarterly revenue was up 6.7% on a year-over-year basis. Oshkosh has set its FY 2026 guidance at 11.000-11.000 EPS. As a group, equities analysts predict that Oshkosh Corporation will post 10.72 earnings per share for the current fiscal year. Oshkosh Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, August 13th. Oshkosh’s dividend payout ratio is presently 26.09%.
Wall Street Analysts Forecast Growth A number of research firms have recently issued reports on OSK. Wall Street Zen upgraded shares of Oshkosh from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Zacks Research raised shares of Oshkosh from a “strong sell” rating to a “hold” rating in a report on Friday, August 21st. Truist Financial increased their price target on shares of Oshkosh from $176.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings upgraded Oshkosh from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Oshkosh from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.71.
Check Out Our Latest Research Report on Oshkosh
Oshkosh Profile (Free Report)
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.
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Callan Family Office LLC purchased a new stake in shares of Oshkosh Corporation (NYSE:OSK – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,750 shares of the company’s stock, valued at approximately $2,417,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Thrivent Financial for Lutherans boosted its position in Oshkosh by 1,945.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 425,600 shares of the company’s stock worth $53,468,000 after acquiring an additional 404,788 shares during the period. Y Intercept Hong Kong Ltd raised its stake in shares of Oshkosh by 84.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 54,593 shares of the company’s stock valued at $8,037,000 after purchasing an additional 25,037 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Oshkosh by 21.9% in the first quarter. California State Teachers Retirement System now owns 74,153 shares of the company’s stock worth $10,916,000 after purchasing an additional 13,344 shares during the period. LSV Asset Management lifted its holdings in Oshkosh by 0.9% in the fourth quarter. LSV Asset Management now owns 1,913,769 shares of the company’s stock worth $240,427,000 after purchasing an additional 17,944 shares during the period. Finally, Norges Bank bought a new position in Oshkosh in the 4th quarter valued at about $127,907,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth Several equities analysts have commented on the stock. Barclays raised their target price on shares of Oshkosh from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Oshkosh from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Zacks Research cut shares of Oshkosh from a “hold” rating to a “strong sell” rating in a report on Thursday, July 23rd. Morgan Stanley lowered their price objective on shares of Oshkosh from $157.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Finally, Evercore reissued an “outperform” rating and set a $181.00 target price on shares of Oshkosh in a report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.33.
Get Our Latest Analysis on Oshkosh Oshkosh Trading Up 2.8% Shares of OSK stock opened at $156.96 on Friday. The stock has a 50-day simple moving average of $147.59 and a 200 day simple moving average of $148.35. The stock has a market capitalization of $9.69 billion, a P/E ratio of 17.96, a P/E/G ratio of 0.96 and a beta of 1.25. Oshkosh Corporation has a fifty-two week low of $116.77 and a fifty-two week high of $180.49. The company has a quick ratio of 0.96, a current ratio of 1.72 and a debt-to-equity ratio of 0.13.
Oshkosh (NYSE:OSK – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.63 by $0.24. Oshkosh had a net margin of 5.24% and a return on equity of 12.95%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the business earned $3.41 earnings per share. Oshkosh’s revenue for the quarter was up 6.7% compared to the same quarter last year. Oshkosh has set its FY 2026 guidance at 11.000-11.000 EPS. On average, sell-side analysts expect that Oshkosh Corporation will post 10.72 earnings per share for the current fiscal year.
Oshkosh Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.28 annualized dividend and a dividend yield of 1.5%. Oshkosh’s payout ratio is currently 26.09%.
About Oshkosh (Free Report)
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.
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Oshkosh oznámil, že backlog divize Access vzrostl meziročně o 64,7 % na 1,96 mld. USD k 30. červnu 2026. Slabá poptávka po vozech na svoz odpadu a pomalejší výroba hasičských vozů ale dál brzdí krátkodobý růst.
Key Takeaways Oshkosh's Access backlog rose 64.7% year over year to $1.96 billion as of June 30, 2026.NGDV and defense growth could boost Transport profitability, with another NGDV order likely in Q4.Weak refuse demand, Access margin pressure and slower fire truck production could constrain near-term growth. Oshkosh Corporation (OSK - Free Report) Oshkosh benefits from strong Access backlog, airport demand, NGDV and defense growth, improving free cash flow and shareholder returns. However, weak refuse demand, compressed Access margins, tariff pressures and slower fire truck production could constrain near-term earnings growth and weigh on profitability despite improving demand trends.
Let’s dig deeper and see why this Zacks Rank #3 (Hold) stock is worth retaining in your portfolio.
Strong Access Backlog, Acquisitions Strength to Aid OshkoshAccess demand improved in the second quarter of 2026, with orders of $1.5 billion, a 1.1 book-to-bill ratio and backlog of $1.96 billion as of June 30, 2026, up 64.7% year over year. Mega projects, including data centers, continue to support equipment demand. High utilization and an aged boom fleet also acted as demand supports. OSK expects full-year 2026 Access revenues to grow from 2025, reversing its earlier expectation of a modest decline.
Prior acquisitions continue to broaden Oshkosh’s exposure to airport infrastructure and other end markets. In the second quarter of 2026, Oshkosh AeroTech recorded continued demand for passenger boarding bridges, including orders in Chicago, Denver and Philadelphia. Vocational backlog reached $6.62 billion as of June 30, 2026, up 5.6% year over year, supported by municipal fire apparatus and airport products. The company continues to invest in airport capacity and automation, including testing an autonomous ground support robot, as airports pursue expansion and modernization projects that support a longer-duration order base.
Oshkosh's Transport segment is positioned for stronger growth as the Next Generation Delivery Vehicle (NGDV) program ramps up and defense activity gains momentum. Delivery vehicle revenues increased more than 20% sequentially in the second quarter, while the NGDV fleet has surpassed 35 million miles and received positive feedback on safety, productivity and reliability. The company expects another NGDV order, likely in the fourth quarter, alongside higher production and improved contract pricing. Meanwhile, defense momentum is supported by recent $142 million FMTV A2 and $92 million ROGUE-Fires orders, as well as growing interest from international customers. These opportunities could improve Transport profitability and provide revenue visibility beyond 2026.
Free cash flow improved significantly year over year. It rose to $348 million in the second quarter of 2026 from $49 million a year earlier. The company maintained full-year 2026 free cash flow guidance of $550-$650 million compared with $618 million reported in 2025. Oshkosh continues to return cash through dividends and repurchases. In January 2025, it hiked its dividend for the 11th consecutive year of double-digit percentage increase. Oshkosh repurchased $91.6 million of shares in the second quarter and $138.9 million in the first six months of 2026.
Weak Refuse Business, Profitability Concerns to Ail OSKThe refuse business has remained down in 2026 as some industrial customers remain cautious about capital spending amid uncertainty over the macroeconomic environment. Refuse and recycling vehicle sales fell to $160.7 million in the second quarter of 2026 from $197 million a year earlier. Unit backlog was down 29.5% as of June 30, 2026, as customers remained cautious on capital spending. While Oshkosh believes the underlying market remains healthy because refuse fleets are aged and waste generation is relatively stable, a recovery may not occur until 2027. This creates a near-term drag on the Vocational segment.
Although Access demand is improving, profitability remains pressured by adverse product and customer mix and unfavorable price-cost dynamics. Access adjusted operating margin was 11.3% in the second quarter of 2026 versus 14.8% a year earlier, despite 9.4% sales growth. The timing of broader recovery in non-residential construction remains uncertain, which could continue to affect customer mix. While Oshkosh expects to remain price-cost neutral for 2026, the need to recover tariff-related costs through pricing creates a potential margin headwind if cost increases cannot be fully passed on to customers.
The biggest near-term challenge is slower-than-expected improvement in fire truck production. Oshkosh is making significant changes to its manufacturing process, but throughput is improving more gradually than initially expected. As a result, the company now expects to produce and ship fewer fire trucks in 2026 than previously planned, reducing full-year adjusted EPS expectations to around $11. Although the manufacturing changes are intended to improve efficiency over the long term, execution risks remain during the transition, particularly because the fire truck business has thousands of parts and complex supplier and material-flow requirements.
Price Performance, Valuation and Estimates Oshkosh has underperformed the Zacks Automotive - Domestic industry in the last six months. Its shares have lost 15.3% compared to the industry’s decline of 7.6%.
Image Source: Zacks Investment Research
From a valuation perspective, OSK appears undervalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 0.8, lower than the industry’s 3.23.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Oshkosh’s 2026 and 2027 EPS has declined 28 cents and improved 14 cents, respectively, in the past 30 days.
Image Source: Zacks Investment Research
Stocks to ConsiderSome better-ranked stocks in the auto space are Geely Automobile Holdings Limited (GELHY - Free Report) and Garrett Motion Inc. (GTX - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for GELHY’s 2026 sales and earnings implies year-over-year growth of 77.1% and 43%, respectively. The EPS estimate for 2026 and 2027 has improved 12 cents and 23 cents each over the past seven days.
The Zacks Consensus Estimate for GTX’s 2026 sales and earnings implies year-over-year growth of 7.2% and 25.7%, respectively. The EPS estimate for 2026 and 2027 has improved 10 cents each over the past 30 days.
Oshkosh oznámil strategickou kapitálovou investici do Nextera Robotics, aby urychlil vývoj autonomních technologií, AI a robotiky pro staveniště budoucnosti.
OSHKOSH, Wis.--(BUSINESS WIRE)--Oshkosh Corporation (NYSE: OSK), a global industrial technology company that develops purpose-built vehicles, equipment and services, today announced a strategic equity investment in Nextera Robotics, an artificial intelligence (AI) and robotics company developing autonomous technologies for construction project management and job site intelligence. The investment reflects Oshkosh's disciplined approach to innovation, combining internal engineering expertise with strategic investments and partnerships to accelerate the development and commercialization of breakthrough technologies. It also strengthens the company’s leadership in autonomy, AI and connectivity while advancing its vision for the job site of the future.
"The future of construction isn't defined by connected equipment alone; it's defined by connected job sites, where intelligent machines, autonomous robotics and AI-powered insights work together to improve safety, productivity and project execution," said Jay Iyengar, executive vice president and chief technology and strategic sourcing officer, Oshkosh Corporation. "This investment reflects our open innovation approach to partnering with companies that complement our engineering capabilities and accelerate the commercialization of emerging technologies. While this investment is initially focused on the job site of the future, we believe these capabilities have the potential to create value across the Oshkosh portfolio over time."
Nextera was selected for its expertise in autonomous robotics, AI-enabled job site intelligence and scalable software that complements the connected equipment ecosystem of JLG, a leading global manufacturer of mobile elevating work platforms (MEWPs) and telehandlers. Its Didge™ platform combines autonomous mobile robots with advanced vision-based AI and AI-powered analytics to provide safety monitoring, quality control, progress tracking, digital documentation and real-time reporting. Together with JLG's ClearSky Smart Fleet™, these capabilities provide customers with a more complete view of equipment performance and overall job site activity.
The collaboration builds on Oshkosh's growing portfolio of robotics and automation investments, which will be showcased as part of Oshkosh Corporation's CES 2027 experience.
For more information on Oshkosh innovation, please visit oshkoshcorp.com.
About Oshkosh Corporation
At Oshkosh (NYSE: OSK), we design, develop and deliver purpose-built vehicles, equipment and services that help everyday heroes build, serve and protect communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs over 19,000 team members worldwide, all united behind a common purpose: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG®, Pierce®, MAXIMETAL, Oshkosh® S-Series™, McNeilus®, IMT®, Jerr-Dan®, Frontline™ Communications, Oshkosh® Airport Products, Oshkosh AeroTech™, Oshkosh® Defense and Pratt Miller. For more information, visit oshkoshcorp.com.
About Nextera Robotics
Nextera Robotics is a Boston-based technology company developing autonomous robotics and AI solutions for the construction industry. Its Didge™ platform combines autonomous robots with AI-powered software to automate construction site data collection and deliver insights that help improve safety, quality, project visibility and decision-making throughout the construction lifecycle.
Forward Looking Statements
This news release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions, and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission, including its most recent Form 10-K. All forward-looking statements speak only as of the date of this news release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this news release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.
Oshkosh snížil výhled upraveného EPS pro rok 2026 na zhruba 11 USD na akcii kvůli pomalejšímu růstu výroby hasičských vozů. Tržby ve 2. čtvrtletí vzrostly o 6,7 % na 2,92 miliardy USD.
Key Takeaways Oshkosh's Q2 adjusted EPS beat estimates as revenues rose 6.7% to $2.92 billion.Access orders reached $1.5 billion, backed by infrastructure, data centers and large construction projects.Oshkosh cut 2026 EPS guidance amid slower-than-expected fire truck production. Oshkosh Corporation (OSK - Free Report) reported second-quarter 2026 adjusted earnings of $2.87 per share, down 15.8% year over year. Earnings, however, beat the Zacks Consensus Estimate of $2.60 by 10.39%. Consolidated adjusted operating income declined 17.7% to $257.6 million, while adjusted operating margin fell to 8.8% from 11.5%. Unfavorable sales mix and higher manufacturing overhead costs impacted the results.
Revenues rose 6.7% to $2.92 billion and beat the consensus mark of $2.75 billion by 6.18%. Higher sales volume and improved pricing supported the top line. Period-end backlog reached $14.75 billion, led by sizable Vocational and Transport order books.
OSK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
OSK's Access Sales Rise on Strong OrdersAccess segment sales increased 9.4% year over year to $1.37 billion, driven by higher sales volume and improved pricing. Aerial work platform revenues rose to $735.1 million from $638 million, while telehandler revenues declined to $263.3 million from $325.1 million.
Adjusted operating income fell to $155.8 million from $185.7 million. Adjusted operating margin contracted to 11.3% from 14.8% due to adverse product and customer mix, unfavorable price-cost dynamics, higher litigation reserves, increased selling and administrative costs, and greater product-development spending. Higher sales volume partly offset these pressures.
Orders reached $1.5 billion and backlog was $1.96 billion at the end of the quarter, supported by infrastructure projects, data centers and other large construction developments.
Oshkosh's Vocational Margin Faces PressureVocational segment sales were nearly flat at $966.8 million. Higher municipal fire apparatus and airport product revenues were offset by lower refuse and recycling vehicle sales.
Adjusted operating income declined to $130.5 million from $157.9 million, with margin contracting to 13.5% from 16.3%. Adverse sales mix, higher manufacturing overhead and lower volume outweighed improved price-cost dynamics and lower incentive compensation accruals.
Fire truck shipments were roughly level with the prior-year quarter. Oshkosh expects production to increase about 10% in 2026 as it shifts from bay-based assembly to higher-flow production lines, though material-flow changes are taking longer than initially planned.
OSK's Transport Revenues Gain on NGDV RampTransport segment sales rose 11.9% to $536.1 million. Delivery vehicle revenues increased to $261.6 million from $107.1 million as production of the Next Generation Delivery Vehicle accelerated. Defense revenues fell to $274.5 million from $372 million.
Operating income decreased to $15.8 million from $17.8 million. Adverse mix and higher warranty and manufacturing overhead costs offset a $16.6 million one-time benefit tied to the NGDV program. Management expects margins to improve in the second half as NGDV production rises and revised defense contracts contribute.
Oshkosh Generates Strong Free Cash FlowSecond-quarter free cash flow reached $348 million, up sharply from $49 million a year ago. The company repurchased about 667,000 shares for $92 million during the quarter. OSK declared a quarterly dividend of 57 cents per share, to be paid out on Aug. 27, 2026, to shareholders of record as of Aug. 13.
OSK Cuts Earnings Outlook on Fire Truck RampOshkosh now expects 2026 adjusted earnings of about $11 per share, down roughly 50 cents from its prior guidance. The revision reflects slower-than-expected improvement in fire truck production, more than offsetting the stronger outlook for the Access segment.
The company raised its full-year sales expectation by $200 million and continues to project free cash flow of $550-$650 million. Management expects fourth-quarter results to exceed third-quarter performance as fire truck production improves, NGDV output rises and defense work shifts to revised-price contracts.
Key Releases From Auto SpaceGeneral Motors (GM - Free Report) reported second-quarter 2026 adjusted earnings of $3.57 per share, up 41.3% year over year. The figure beat the Zacks Consensus Estimate of $3.13 by 14.06%. Revenues increased 1.9% to $48.03 billion and surpassed the consensus estimate of $46.56 billion by 3.15%. General Motors raised its full-year adjusted EBIT guidance to $14-$16 billion from $13.5-$15.5 billion. Adjusted earnings are now projected at $12-$14 per share, up from the prior range of $11.50-$13.50.
Tesla, Inc. (TSLA - Free Report) reported second-quarter 2026 adjusted earnings of 33 cents per share, which declined 17.5% year over year. The figure missed the Zacks Consensus Estimate of 50 cents by 34%. Revenues advanced 25.5% to $28.24 billion and surpassed the consensus estimate of $25.81 billion by 9.41%. Tesla expects 2026 capital expenditures to exceed $25 billion and rise further over the next two to three years.
Ford (F - Free Report) reported second-quarter 2026 adjusted earnings of 42 cents per share, beating the Zacks Consensus Estimate of 33 cents by 27.27%. Earnings rose 13.5% from 37 cents a year ago. Automotive revenues of $44.89 billion fell 4.4% year over year and missed the consensus mark of $45.72 billion by 1.81%. Ford’s consolidated second-quarter revenues came in at $48.3 billion, down 3.7% year over year. The company raised its full-year adjusted EBIT outlook to $10-$11 billion from $8.5-$10.5 billion.
Oshkosh (OSK - Free Report) came out with quarterly earnings of $2.87 per share, beating the Zacks Consensus Estimate of $2.6 per share. This compares to earnings of $3.41 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +10.39%. A quarter ago, it was expected that this heavy vehicle manufacturer for the military, emergency and commercial companies would post earnings of $1.04 per share when it actually produced earnings of $0.85, delivering a surprise of -18.27%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Oshkosh, which belongs to the Zacks Automotive - Domestic industry, posted revenues of $2.92 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.18%. This compares to year-ago revenues of $2.73 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Oshkosh shares have added about 23.3% since the beginning of the year versus the S&P 500's gain of 8.3%.
What's Next for Oshkosh?While Oshkosh has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Oshkosh was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.41 on $2.92 billion in revenues for the coming quarter and $10.87 on $11 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Domestic is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Rivian Automotive (RIVN - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on July 30.
This a manufacturer of motor vehicles and passenger cars is expected to post quarterly loss of $0.65 per share in its upcoming report, which represents a year-over-year change of +18.8%. The consensus EPS estimate for the quarter has been revised 1.2% higher over the last 30 days to the current level.
Rivian Automotive's revenues are expected to be $1.59 billion, up 22.1% from the year-ago quarter.
