Q4 2025 Oshkosh Corp Earnings Call Transcript
Key Points
- Oshkosh Corp (OSK) showcased innovative technologies at CES, receiving two best of innovation awards and a CES Pix Award for their safety and productivity solutions.
- The company reported strong financial performance for 2025, with revenue of $10.4 billion and adjusted operating income of over $1 billion.
- Oshkosh Corp (OSK) achieved a robust adjusted operating income margin of 15.8% in their vocational segment, driven by growth in fire apparatus and airport products.
- The transport segment saw significant progress with NGDV shipments, meeting or exceeding USPS expectations, and achieving over 10 million miles driven.
- Oshkosh Corp (OSK) plans to continue strategic investments and share repurchases, reflecting confidence in long-term growth and cash flow generation.
- The company anticipates weaker market conditions in the access segment for 2026, with expected lower sales due to non-residential construction pressures.
- Tariffs are expected to impact costs significantly in 2026, with an estimated $200 million in tariffs, primarily affecting the access segment.
- Oshkosh Corp (OSK) expects the first quarter of 2026 to be the lowest of the year, with adjusted EPS potentially about 50% of the previous year.
- The refuse and recycling vehicle business is experiencing a moderation in near-term demand, impacting the vocational segment.
- The transport segment's operating income margin is projected to be only 4% in 2026, reflecting ramp-up costs and lower defense vehicle revenue.
Your session will follow the formal presentation. (Operator Instructions).
It is now my pleasure to introduce your host Pat Davidson, Senior Vice President of Investor Relations. Thank you, sir. You may begin.
Good morning and thanks for joining us. Earlier today we published our fourth quarter 2025 results. A copy of that release is available on our website at Oshkoshcorp.com.
Today's call is being webcast and is accompanied by a slide presentation which includes a reconciliation of GAAP to non-GAAP financial measures that we will use during this call and is also available on our website. The audio replay and slide presentation will be available on our website for approximately 12 months. Please refer now to slide 2 of that presentation.
Our remarks that follow, including answers to your questions, contain statements that we believe to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act.
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