Oshkosh (OSK) Falls After Q1 Profit Miss Offsets Revenue Beat

Oshkosh (NYSE: OSK) reported first-quarter 2026 revenue above Wall Street estimates, but adjusted profit missed expectations and shares fell to $137.68 from $153.06 before the release. Revenue was flat year over year at $2.32 billion, while non-GAAP earnings of $0.85 per share came in 18.3% below consensus. The specialty vehicle maker said weather- and travel-related delays pushed fire truck shipments out of the quarter, weighing on its vocational segment. Management also cited higher manufacturing overhead, unfavorable product mix, tariff-related pressures and continued production bottlenecks. Oshkosh guided for full-year 2026 revenue of about $11 billion at the midpoint, 0.7% above analyst estimates. The company expects stronger second-half results as fire truck production improves, Next Generation Delivery Vehicle output ramps and higher-margin defense programs, including FMTV and potential additional NGDV orders, contribute more meaningfully.