Oshkosh Q3 sales miss estimates; cuts FY outlook on lower fire truck production
Overview
U.S. specialty vehicle maker's fiscal Q3 sales rose 5.7% but missed analyst expectations
Adjusted EPS for fiscal Q3 missed analyst expectations
Company cut full-year outlook due to lower fire truck production
Outlook
Oshkosh lowers 2026 net sales outlook to about $11.0 bln from $11.2 bln
Company cuts 2026 adj EPS forecast to $8.50-$9.50 from prior $10.00-$12.00 range
Revised guidance reflects lower fire truck and NGDV production, partly offset by higher Access sales
Result Drivers
ACCESS SEGMENT GROWTH - Higher sales volume in North America and improved pricing drove growth in the Access segment
FIRE TRUCK PRODUCTION CHALLENGES - Lower fire apparatus production and modernization efforts weighed on Vocational segment results
UNFAVORABLE SALES MIX AND HIGHER COSTS - Company cited unfavorable sales mix and higher selling, general and administrative expenses as factors reducing operating income
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Miss | $2.84 bln | $2.94 bln (11 Analysts) |
Q3 Adjusted EPS | Miss | $2.41 | $3.11 (15 Analysts) |
Q3 Net Income | $138.40 mln | ||
Q3 Operating Income | $197.10 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"
Wall Street's median 12-month price target for Oshkosh Corp is $170.00, about 23.3% above its October 28 closing price of $137.93
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago
Reuters Recommended Reads
Oct 29 - Caterpillar Q3 revenue rises 17%, slightly beats estimates
Oct 28 - Specialized equipment maker Terex Q3 sales beat on higher shipment volumes
Oct 27 - Boeing Q3 revenue beats estimates on defense volumes
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)