Q2 2026 Oshkosh Corp Earnings Call Transcript
Key Points
- Oshkosh Corp (OSK) reported consolidated sales of $2.9 billion and adjusted earnings per share of $2.87 for the second quarter.
- The Access segment showed strong performance with a book-to-bill ratio of 1.1 and double-digit operating income margins.
- The company has a robust backlog in its Transport and Vocational segments, providing good visibility for future growth.
- Oshkosh Corp (OSK) is investing in AI-enabled technologies, autonomy, and connectivity, which are expected to drive future growth.
- The Defense segment received significant orders, including a $142 million order for the FMTV A2 program and a $92 million order for the United States Marine Corps Rogue Fires platform.
- Adjusted operating income decreased to $258 million from $313 million in the prior year, primarily due to unfavorable mix and higher manufacturing overhead costs.
- The Vocational segment is experiencing slower-than-expected improvements in fire truck production throughput, impacting short-term earnings expectations.
- Refuse collection vehicle sales were lower than last year, affecting the Vocational segment's performance.
- The Transport segment faced higher warranty and manufacturing overhead costs, impacting its operating income.
- Oshkosh Corp (OSK) revised its full-year adjusted earnings per share expectation to $11, down from previous estimates due to production challenges in the Vocational segment.
Greetings, and welcome to the Oshkosh Corporation second-quarter 2026 results conference call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Pat Davidson, Senior Vice President of Investor Relations for Oshkosh Corporation. Thank you, sir. You may begin.
Good morning, and thanks for joining us. Earlier today, we published our second quarter 2026 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
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