$OSK

Moody's upgraded Oshkosh Corporation's (NYSE:OSK) rating to Baa2 from Baa3, citing a stronger business mix and stable outlook. The company's focus on Vocational and Transport segments is expected to drive revenue growth of 3% in 2026 and 9% in 2027, with EBITA margins expanding to around 9% by 2027. Moody's projects solid free cash flow and financial leverage below 1.5x through 2027.

Oshkosh Defense (OSK) began producing the Dutch Expeditionary Patrol Vehicle (DXPV) prototype for the Netherlands Ministry of Defence. The Kaaiman vehicle is based on the Joint Light Tactical Vehicle platform, with enhancements like improved mobility and corrosion protection. The company uses an existing production line for faster development. OSK is headquartered in Wisconsin and employs over 19,000 people.

Oshkosh Corporation's average stock price target was reduced from $163.8 to $162.47 by 15 analysts, with a range of $132 to $197. This implies a 30% upside from the Oct. 9 closing price. The consensus rating remains 'Buy' among 20 analysts.

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.

Fire departments nationwide face critical shortages of fire trucks, with delays of up to four years for new vehicles. Three companies—REV Group, Oshkosh Corporation, and Rosenbauer—now dominate the market. REV Group reported a $4.5 billion backlog, while Oshkosh highlighted price increases. Cities blame corporate consolidation for the crisis, with lawsuits alleging price fixing. Manufacturers attribute delays to supply chain issues and increased demand.

The Pentagon aims to accelerate defense procurement, focusing on speed and innovation, with a $1.5 trillion budget request. It seeks to support smaller companies and increase drone production to 200,000 by 2027. Key munitions, like those made by RTX and Lockheed, are critical for the Iran war and future conflicts. Congress must approve the budget for these plans to proceed.

Four Arizona cities joined a lawsuit against fire truck manufacturers, alleging price gouging and delivery delays. The suit targets Rev Group, Oshkosh, and Rosenbauer, claiming American Industrial Partners exploited the market. Tempe's fire chief cited rising costs and extended wait times. Oshkosh reported a $14 billion backlog in 2026. The cities seek damages and fee reimbursement.

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 Defense (OSK) invested over $50M to support a proposal for a 'production bridge' option for Joint Light Tactical Vehicles (JLTV) for the Marine Corps. The investment aims to enable delivery of JLTV A1s within 10 months of contract award, with Oshkosh stating it has sufficient engines and long-lead items.

Tacoma sued major U.S. fire-truck makers (REV Group, Oshkosh, Rosenbauer) for alleged antitrust violations, claiming monopolistic practices drove up prices and delivery delays. The city, facing a $40M deficit, joined 60 localities in the lawsuit. Defendants deny wrongdoing, attributing issues to pandemic disruptions. Prices for fire apparatus have doubled or tripled since the mid-2010s, according to the complaint.