Oshkosh Corp lowered its 2026 earnings-per-share guidance to $8.00-$9.00, as lower municipal fire apparatus and delivery vehicle production offset higher Access sales; it now expects approximately $11.0 billion in sales.
OSK · Oshkosh Corp
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Oshkosh Corporation reported third-quarter sales of $2.84 billion, up 5.7%, and EPS of $2.22. It cut 2026 diluted EPS guidance to between $8.00 and $9.00 and adjusted EPS to between $8.50 and $9.50 amid lower fire apparatus and NGDV production.
Metrics snapshot
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Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Jul 28, 2026TL;DR. Oshkosh reported Q2 sales up 6.7% to $2.9B with adjusted EPS of $2.87, but cut full-year adjusted EPS guidance to ~$11.00 (a ~$0.50 reduction) and now expects to ship fewer firetrucks this year due to slower-than-expected production throughput, even as access segment orders and full-year sales outlook improved.
- + Full-year net sales outlook raised by $200M to approximately $11.2 billion
- + Access segment Q2 orders of $1.5B produced a 1.1 book-to-bill, more than double prior-year Q2
- + Full-year access segment revenue now expected to grow vs. 2025, improved from prior modest-decline expectation
- + Free cash flow guidance of $550M–$650M maintained despite lowered EPS outlook
- + Q2 free cash flow of $348M significantly improved from $49M a year ago
- + Defense Q2 awards include a $142M FMTV A2 order and a $92M Marine Corps Rogue Fires order
- − Full-year adjusted EPS guidance cut by ~$0.50 to approximately $11.00 due to slower firetruck throughput
- − Q2 GAAP EPS of $2.92 and adjusted EPS of $2.87 both below prior-year Q2 of $3.16 and $3.41
- − Access segment adjusted operating income fell to $155.8M (11.3% margin) from $185.7M (14.8%) on adverse mix and unfavorable price/cost
- − Vocational segment adjusted operating income fell to $130.5M (13.5% margin) from $157.9M (16.3%) on adverse mix and overhead
- − Company expects to produce and ship fewer firetrucks this year than previously planned due to manufacturing transformation
- − Full-year vocational margin now expected to fall below the low end of the 16%–18% long-term target range
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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Guidance & track record
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Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
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Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted Access segment operating income (non-GAAP) non-GAAP | $344.5M | Nine Months Ended September 30, 2026 | — |
| Adjusted consolidated operating income (non-GAAP) non-GAAP | $570.8M | Nine Months Ended September 30, 2026 | — |
| Adjusted corporate and other operating loss (non-GAAP) non-GAAP | -$128.9M | Nine Months Ended September 30, 2026 | — |
| Adjusted Vocational segment operating income (non-GAAP) non-GAAP | $327M | Nine Months Ended September 30, 2026 | — |
| Adjusted1 net income non-GAAP | $384M | first nine months of 2026 | — |
| Period-end backlog: Access | $2.66B | September 30, 2026 | — |
| Period-end backlog: Consolidated | $15.15B | September 30, 2026 | — |
| Period-end backlog: Corporate and other | $113.9M | September 30, 2026 | — |
| Period-end backlog: Transport | $5.64B | September 30, 2026 | — |
| Period-end backlog: Vocational | $6.74B | September 30, 2026 | — |
| Repurchases of Common Stock | $82.4M | third quarter of 2026 | — |
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| shares of common stock | 556,138 | third quarter of 2026 | — |
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| Access segment book-to-bill ratio | 1.1 | the three months ended June 30, 2026 filing | — |
| Access segment orders | 1.5B | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Farm & Heavy Construction Machinery — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
OSK
this stock
Oshkosh Corp
|
$8.70B | +8.9% | -2.9% | — | 4.1% |
|
CAT
Caterpillar Inc
|
$253.34B | -3.4% | +4.3% | 21.7 | 1.7% |
|
DE
Deere & Co
|
$178.85B | +42.5% | -11.7% | 36.9 | 1.9% |
|
SNHIY
Sany Heavy Industries Co., Ltd.
|
$86.82B | — | — | — | 0.0% |
|
PCAR
Paccar Inc
|
$56.34B | -4.6% | -15.5% | 20.4 | 2.4% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Oct 29, 2026
- This year
- 15
Oshkosh Corp lowered its 2026 earnings-per-share guidance to $8.00-$9.00, as lower municipal fire apparatus and delivery vehicle production offset higher Access sales; it now expects approximately $11.0 billion in sales.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| OSK | +1.1% | +7.4% | +13.6% | -2.3% | +8.9% |
| SPY | -4.7% | -5.3% | -0.8% | -3.0% | +7.5% |
| vs SPY | +5.8% | +12.7% | +14.4% | +0.7% | +1.4% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.