Oshkosh Q2 Earnings Surpass Estimates Despite 4% Sales Decline

Oshkosh Corporation reported strong second-quarter 2025 financial results with revenues of $2.73 billion, slightly below the previous year but exceeding analysts' expectations. Adjusted earnings per share stood at $3.41, reflecting a 2.1% increase year-over-year, driven by disciplined execution and broad-based strength across its segments, especially the Vocational segment which saw significant sales and operating income growth. Despite a 4% decline in consolidated sales due to lower volumes in the Access and Transport segments, Oshkosh's operating income increased by 11.8% to $291.7 million, aided by improved pricing, sales mix, and lower intangible asset impairments. The company raised its full-year guidance and demonstrated a conservative capital allocation strategy with a low dividend payout ratio and ongoing share repurchases. Oshkosh's consistent earnings beat and stable revenue growth highlight its resilience amid industry headwinds, supported by new product launches and strong backlog orders. Leadership emphasized continued growth prospects and operational discipline as key factors underpinning the company’s performance.