Oshkosh Q3 Sales Rise to $2.84B as Fire Truck Production Challenges Impact Outlook

Oshkosh Corporation reported third quarter 2026 sales of $2.84 billion, an increase of 5.7 percent compared to the prior year period. Net income for the quarter was $138.4 million, or $2.22 per diluted share, down from $196.2 million, or $3.04 per diluted share, in the third quarter of 2025. Adjusted net income was $150.1 million, or $2.41 per diluted share, compared to $206.6 million, or $3.20 per diluted share, in the prior year.

Consolidated sales growth was driven by higher sales volume in the Access segment and improved pricing across all three segments, which was partially offset by lower sales volume in the Vocational segment. However, consolidated operating income decreased 24.3 percent to $197.1 million, or 6.9 percent of sales, due to unfavorable sales mix and higher selling, general and administrative expenses.

The company’s Access segment achieved sales of $1.34 billion, a 20.7 percent increase, primarily due to higher sales volume in North America and improved pricing. Conversely, the Vocational segment saw sales fall to $899.9 million, a decrease of 7.0 percent, attributed to lower fire apparatus production and challenges associated with initiatives to modernize fire apparatus manufacturing. The Transport segment reported sales of $562.0 million, a decrease of 4.4 percent, largely due to the license of JLTV-related intellectual property to the U.S. government in the prior year.

CEO John Pfeifer stated that improvements in fire truck production throughput are taking longer than expected. The company has identified primary factors affecting production and is taking focused actions to improve material flow and scheduling. Consequently, Oshkosh has lowered its full-year 2026 adjusted earnings per share guidance to a range of $8.50 to $9.50, down from previous expectations. The company also revised its net sales expectation for 2026 to approximately $11.0 billion.

In other corporate actions, Oshkosh’s Board of Directors declared a quarterly cash dividend of $0.57 per share, payable on November 30, 2026, to shareholders of record as of November 16, 2026. During the third quarter, the company repurchased 556,138 shares of common stock for $82.4 million.