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NEW YORK - On Friday, Oshkosh Corporation (NYSE:OSK) reported second-quarter adjusted earnings that surpassed analyst expectations, driven by strong performance in its vocational segment despite overall revenue declining from the previous year.
Shares of Oshkosh were down 1.18% in pre-market trading following the results.
The specialty vehicle manufacturer posted adjusted earnings per share of $3.41 for the second quarter, significantly exceeding the analyst estimate of $2.94. Revenue came in at $2.73 billion, above the consensus estimate of $2.66 billion but down 4% YoY from $2.85 billion.
The company maintained its adjusted operating income margin at 11.5% despite the revenue decline, with the vocational segment emerging as a standout performer. Vocational revenue increased 15% to $969.7 million with an adjusted operating income margin of 16.3%, up from 14.1% in the same period last year.
The access segment saw a 10.7% revenue decline to $1.26 billion, primarily due to the expiration of the CAT agreement and lower European sales volume. Meanwhile, the transport segment revenue fell 16.2% to $479.1 million, impacted by the wind-down of the domestic JLTV program, though operating margin improved to 3.7% from 2.1% a year earlier.
Oshkosh updated its full-year 2025 outlook, projecting revenues of approximately $10.6 billion and adjusted EPS of around $11.00. The company also expects free cash flow between $400-$500 million for the year.
The company’s total backlog remains robust at $14.2 billion, providing stability despite economic uncertainties in some markets.
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