Oshkosh Corporation reported a third quarter miss on both revenue and earnings as production bottlenecks in its fire truck business weighed on results. Management significantly lowered its full-year 2026 outlook, citing persistent throughput challenges in the Vocational segment and a slower production ramp for the USPS Next Generation Delivery Vehicle (NGDV) program.
Key Highlights
- Adjusted EPS of $2.41 missed the $3.01 analyst estimate, falling 24.7% year-over-year due to manufacturing overhead and unfavorable product mix.
- Vocational segment operating income plummeted 38.2% to $87.6 million, driven by modernization initiatives that hindered fire apparatus production volume.
- Full-year 2026 adjusted EPS guidance was slashed to a range of $8.50–$9.50, down from the previous $11.00 target, reflecting lower projected delivery volumes.