Oshkosh Q3 Earnings Beat Estimates, Revenues Decline Y/Y

Oshkosh Corporation OSK reported third-quarter 2025 adjusted earnings of $3.20 per share, beating the Zacks Consensus Estimate of $3.12. The bottom line also surpassed $2.93 recorded in the year-ago quarter. Consolidated net sales fell 1.9% year over year to $2.69 billion. The top line also missed the Zacks Consensus Estimate of $2.82 billion.

Oshkosh Corporation Price, Consensus and EPS Surprise

Oshkosh Corporation price-consensus-eps-surprise-chart | Oshkosh Corporation Quote

Segmental Details of OSK

Access: Access segment sales declined 18.6% year over year to $1.11 billion, primarily due to lower sales volume in North America and higher discounts. The metric also missed the Zacks Consensus Estimate of $1.18 billion.

Operating income decreased 43.2% year over year to $118 million, representing 10.6% of sales compared with 15.2% in the prior-year quarter, primarily due to reduced volume and discounts. The metric also missed the Zacks Consensus Estimate of $126 million.

Vocational: This segment posted an 18.9% year-over-year increase in sales to $968 million, driven by higher production rates and improved pricing. The metric also beat our estimate of $955 million.

Operating income increased 42.3% to $141.7 million, representing 14.6% of sales compared with 12.2% a year earlier. This rise was supported by higher volume and favorable pricing. The metric, however, missed our estimate of $144 million.

Transport: Transport segment recorded an 8.8% rise in sales to $587.9 million, benefiting from the ramp-up of the U.S. Postal Service’s Next Generation Delivery Vehicle production, higher international tactical wheeled vehicle sales and a one-time intellectual property (IP) license to the U.S. government. This metric, however, missed our estimate of $640 million.

Operating income surged 226.8% to $36.6 million, or 6.2% of sales compared with 2.1% of sales a year earlier, reflecting the IP license income and improved pricing. The metric, however, missed our estimate of $40.05 million.

OSK’s Financials

Oshkosh had cash and cash equivalents of $211.8 million as of Sept. 30, 2025, compared with $204.9 million as of Dec. 31, 2024. The company recorded a long-term debt of $1.09 billion, up from $599.5 million as of Dec. 31, 2024.

OSK declared a quarterly cash dividend of 51 cents per share. The dividend will be paid out on Dec. 1, 2025, to its shareholders on record as of Nov. 17, 2025.

OSK’s 2025 Guidance Revised

The company now expects its 2025 adjusted earnings per share to be between $10.50 and $11 compared with previous guidance of $11. Full-year net sales are projected to be between $10.3 billion and $10.4 billion, down from the prior estimate of $10.6 billion.

Oshkosh’s Zacks Rank & Key Picks

OSK carries a Zacks Rank #3 (Hold) at present.

Some better-ranked stocks in the auto space are Hesai Group HSAI, Standard Motor Products, Inc. SMP and BRP Inc. DOOO. HSAI,SMP and DOOO all have 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 HSAI’s 2025 sales and earnings implies year-over-year growth of 60.5% & 390.9% respectively. EPS estimates for 2026 have improved a penny in the past 90 days.

The Zacks Consensus Estimate for SMP’s 2025 sales and earnings implies year-over-year growth of 20.9% and 18.6%, respectively. EPS estimates for 2025 have improved by 17 cents in the past 90 days. EPS estimates for 2026 have improved by 2 cents in the past 30 days.

The Zacks Consensus Estimate for DOOO's sales and earnings imples year-over-year growth of 2.87% and 0.92%, respectively. EPS estimates for 2026 and 2027 have improved by 2 cents and 5 cents in the past 30 days.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research