Oshkosh Corporation (Holding Company) Stock 12‑Month Price Target Cut to $162.47, Implies 30% Upside

Oshkosh Defense received a follow-on order from Morocco for 50 Heavy Equipment Transporter A1 tractors and 50 MN573 trailers, according to a press release. The order includes parts, services, and training. Oshkosh Corporation (NYSE:OSK) operates Oshkosh Defense and reported the first delivery is operational. The order reflects growing demand for the company's mobility solutions, according to Pat Williams, Chief Programs Officer at Oshkosh Defense.

Oshkosh (OSK) shares rose 10.3% since its last earnings report, outperforming the S&P 500. Q2 2026 adjusted earnings of $2.87 per share beat estimates by 10.39%, though down 15.8% YoY. Revenues increased 6.7% to $2.92B, also beating estimates. Access segment sales grew 9.4% YoY, but margins contracted due to various cost pressures. Backlog reached $14.75B, led by Vocational and Transport orders.

Oshkosh Corporation (OSK) reports strong Access backlog and airport demand, with Q2 2026 orders at $1.5B and backlog up 64.7% YoY. Transport segment grows due to NGDV program and defense orders. Free cash flow improved to $348M in Q2 2026. However, refuse business weakness, compressed margins, and slower fire truck production may constrain earnings. OSK maintains 2026 free cash flow guidance of $550-$650M and continues shareholder returns.

Blue Bird (BLBD) stock fell 4.4% despite a solid quarter. Greenbrier (GBX) reported a 31.6% revenue decline, missing estimates, and its stock also dropped 4.4%. Oshkosh (OSK) beat revenue and EPS estimates, with stock unchanged. Federal Signal (FSS) saw 18.7% revenue growth, exceeding EPS and EBITDA estimates, and its stock rose 12.8%.

Providence, Rhode Island, is suing fire truck manufacturers for alleged antitrust violations, claiming consolidation reduced competition and helped firms raise prices. The city says some pumper and ladder truck prices rose far faster than inflation, including a used 2011 pumper bought for $360,000 and new Pierce trucks rising from $449,159 to $734,320. Providence says deliveries are delayed and replacements slowed.

Oshkosh (OSK) shares fell about 1.6% to $152.50 after the company trimmed full-year EPS guidance to about $11 while keeping free cash flow guidance at $550m to $650m. Q2 results included adjusted EPS of about $2.87 on sales of about $2.9b. Trailing profit margin compressed to 5.2% from 6.3%.