Oshkosh Q1 Earnings Miss Expectations, Revenues Decline Y/Y

Oshkosh Corporation OSK reported first-quarter 2025 adjusted earnings of $1.92 per share, missing the Zacks Consensus Estimate of $2.02. The bottom line also declined from $2.89 recorded in the year-ago period. Consolidated net sales fell 9.1% year over year to $2.31 billion. The top line also missed the Zacks Consensus Estimate of $2.41 billion.

Oshkosh Corporation Price, Consensus and EPS Surprise

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

Segmental Details of OSK

Access: The segment’s net sales declined 22.7% year over year to $957.1 million due to lower sales volume in North America and higher discounts. The metric also missed the Zacks Consensus Estimate of $993 million.

Operating income fell 50.5% to $103.1 million (accounting for 10.8% of sales) due to lower sales volume, higher discounts & operating expenses and an increase in product development spending. The metric also missed the Zacks Consensus Estimate of $114 million.

Defense: The segment’s net revenues declined 9.1% year over year to $463 million due to lower sales of tactical wheeled vehicles. The metric also missed the Zacks Consensus Estimate of $519 million.

The segment reported an operating income of $0.6 million, which fell 95.5% year over year due to cumulative catch-up adjustments and lower sales. The figure also lagged the Zacks Consensus Estimate of $14.12 million.

Vocational: The segment’s net sales rose 12.2% year over year to $866.8 million due to improved sales volume and pricing, but lagged the Zacks Consensus Estimate of $873 million.

Operating income surged 47.1% to $117.8 million (accounting for 13.6% of sales) and surpassed the Zacks Consensus Estimate of $115 million, primarily due to enhanced price/cost dynamics and higher sales.

(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)

OSK’s Financials

Oshkosh had cash and cash equivalents of $210.3 million as of March 31, 2025, compared with $204.9 million as of Dec. 31, 2024. The company recorded a long-term debt of $1.1 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 May 30, 2025, to its shareholders of record as of May 16, 2025.

Tariff Impact on OSK’s 2025 Guidance

The company anticipates full-year 2025 adjusted earnings per share to be $11, without the recent tariff-induced macro environment. It expects tariffs to have a net negative impact of about $1 per share in 2025, partially offset by cost reductions of up to 50 cents per share.

Oshkosh’s Zacks Rank & Key Picks

OSK carries a Zacks Rank #4 (Sell) at present.

Some better-ranked stocks in the auto space are Hesai Group HSAI and Standard Motor Products, Inc. SMP. HSAI sports a Zacks Rank #1 (Strong Buy), while SMP carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for HSAI’s 2025 earnings indicates year-over-year growth of 336.36%, respectively. EPS estimates for 2026 have improved 12 cents in the past seven days.

The Zacks Consensus Estimate for SMP’s 2025 sales and earnings implies year-over-year growth of 16.61% and 10.73%, respectively. EPS estimates for 2025 have improved 5 cents in the past 60 days. EPS estimates for 2026 have improved by a penny in the past 30 days.

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

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