Oshkosh Corporation Surges Ahead in Q2 2026: Robust Sales and Adjusted Earnings Per Share, Strong Order Intake, and a Bright Future
The Oshkosh Corporation has announced its stellar second quarter 2026 results, with consolidated sales reaching $2.9 billion and adjusted earnings per share of $2.87.
According to John Pfeifer, President and Chief Executive Officer, the company's access segment delivered double-digit operating income margins with strong Q2 sales in a dynamic environment. The segment now expects full-year revenue growth compared to 2025, an improvement from its original expectation for a modest decline.
The company has also reported robust backlogs at its transport and vocational segments, with the latter focusing on modernizing fire truck manufacturing and expanding production to meet strong customer demand. As part of this effort, Oshkosh is implementing new in-plant material flow processes that will support its transformation to high-flow production lines.
The company's decision to shift from reliance on individuals and experience to standardized, modern process flows will enable it to produce and ship fewer fire trucks this year than previously planned. However, this move positions Oshkosh well for 2027 and 2028.
In a press release accompanying the Q2 2026 results, Oshkosh stated that its full-year adjusted earnings per share are now expected to be in the range of $11. This revised expectation reflects the company's revised production expectations for this year.
The company continues to hear a common theme from customers who are looking for solutions that are safe, intuitive, productive, and maximize fleet uptime. As such, Oshkosh is investing in AI-enabled technologies, autonomy, and connectivity that will shape the airport of the future, the job site of the future, the neighborhood of the future, and the battlefield of the future.
The company's access segment has seen large infrastructure investments and mega projects remain important sources of demand. Its newest products, including micro-sized scissor lift and ClearSky Smart Fleet connected technologies, continue to resonate with customers.
Oshkosh remains focused on managing the business with discipline, improving price-cost dynamics, driving operational productivity, and innovating its products and services. These innovations will drive the job site of the future, where Oshkosh sees tremendous promise in bringing autonomous, AI-enabled solutions to construction sites.
The company's order intake was strong at $1.5 billion, resulting in a book-to-bill ratio of 1.1. As such, Oshkosh enters the second half of the year with good visibility, supported by a $2 billion backlog at the end of the quarter.
