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Oshkosh Beats Revenue Estimates, Boosts Guidance
28 Jul
Summary
- Oshkosh reported Q2 CY2026 revenue of $2.92 billion, exceeding estimates.
- Full-year revenue guidance was raised to $11.2 billion, beating analyst expectations.
- Despite strong revenue, full-year Adjusted EPS guidance was lowered.
Specialty vehicle manufacturer Oshkosh (NYSE:OSK) reported strong second-quarter CY2026 financial performance, exceeding revenue expectations with sales reaching $2.92 billion, marking a 6.7% increase from the prior year. The company's positive revenue trend also led to an upward revision of its full-year revenue guidance to $11.2 billion at the midpoint.
While Q2 non-GAAP earnings per share of $2.87 surpassed analyst consensus by 10.1%, Oshkosh's management has reduced its full-year Adjusted EPS guidance to $11 per share. This guidance adjustment comes amidst an operating margin decline from 10.7% to 8.3% year-over-year, although free cash flow margin significantly improved.
The company's backlog stood at $14.75 billion, reflecting a 3.7% year-on-year increase. However, this backlog growth rate is lower than its revenue growth, indicating a need for sustained order acquisition to maintain future momentum.
Oshkosh, which produces specialty vehicles for defense, fire, emergency, and commercial sectors, has demonstrated a 7.3% compounded annual growth rate in sales over the last five years. Recent performance, with 1.2% annualized revenue growth over the past two years, suggests a deceleration from its longer-term trend.
