Oshkosh Corporation (holding Company) · NYSE:OSK
Oshkosh Corporation (holding Company) — Q1 2026 Earnings Presentation
19 slides from Oshkosh Corporation (holding Company)'s earnings presentation, May 8, 2026
Slide 1: Q1 2026 Earnings Update
Q1 2026 EARNINGS UPDATE | MAY 8, 2026 FIRST QUARTER 2026 EARNINGS CALL | 1
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements
Slide 3: Q1 consolidated results
Q1 consolidated results REVENUE ADJ. OPERATING ADJ. OI MARGIN* ADJ. EPS* (in billions) INCOME* (in millions) $2.31 $2.32 8.3% $1.92 $191.8 4.2% $96.3 $0.85 2025 2026 2025 2026 2025 2026 2025 2026 * Non-GAAP results. See appendix for reconciliation to GAAP results. FIRST QUARTER 2026 EARNINGS CALL |
Slide 4: Compelling investment thesis
Compelling investment thesis (Investor Day – June 2025) CASH GENERATION TRANSFORMING TOP-LINE RESILIENT AND CAPITAL MARGIN GROWTH PORTFOLIO MANAGEMENT Plans to deliver through- Sizable backlogs and Strong segments support Expect significant free cash cycle margin expansion pricing provide clear bala
Slide 5: Q1 highlights – Access
Q1 highlights – Access CONEXPO 2026 REDESIGNED 60’ BOOM LIFT 26’ MICRO-SIZED SCISSOR LIFT Record attendance and strong Improves manufacturability, reduces Delivers compact design and customer reaction to JLG presence at weight, speeds operation and increases industry-leading work-at-height the March
Slide 6: Q1 highlights – Vocational
Q1 highlights – Vocational INDUSTRY-LEADING PRESENCE AT STRONG DEMAND FOR RANGER AND FDIC IN INDIANAPOLIS COMMANDER CARGO LOADERS Pierce showcased product breadth and technology Growth of air freight drives long-term demand for Oshkosh advantages AeroTech commercial cargo loading machines in North A
Slide 7: Q1 highlights – Transport
Q1 highlights – Transport DELIVERY DEFENSE Next Generation Delivery Vehicles (NGDV) have accumulated more Production of FMTV LVAD variants from the recent contract than 20 million miles across 48 states extension has begun in Wisconsin FIRST QUARTER 2026 EARNINGS CALL | 7
Slide 8: Q1 consolidated results
Q1 consolidated results Dollars in millions, except per share amounts Three months ended March 31 2026 2025 Q1 COMMENTS Sales impacted by: Net Sales $2,317.8 $2,312.8 + Pricing % Change 0.2% (9.1)% + Currency Adjusted operating income* $96.3 $191.8 + Changes to CCA % Change (49.8)% (30.3)% - Sales v
Slide 9: Q1 segment financial results
Q1 segment financial results Access Segment Vocational Segment Transport Segment $943M $825M $513M REVENUE REVENUE REVENUE 4.1% 11.4% 0.8% ADJUSTED OI MARGIN* ADJUSTED OI MARGIN* OI MARGIN * Non-GAAP results. See appendix for reconciliation to GAAP results. FIRST QUARTER 2026 EARNINGS CALL | 9
Slide 10: Updated 2026 outlook
Updated 2026 outlook MAINTAINING FULL YEAR EXPECTATIONS IN THE RANGE OF: • Revenues of ~$11.0 billion • Adj. operating income* of ~$1.06 billion • Adjusted EPS* of ~$11.50 • Free cash flow* of $550-$650 million ADDITIONAL EXPECTATIONS: • First half adjusted EPS expected to be ~30% of full year earni
Slide 11: Our strategy / Enabling our strategy
Our strategy Enabling our strategy INNOVATE DIVERSIFIED GROWTH Shaping tomorrow with Clear revenue opportunities from leading technology three industry-leading verticals, adjacencies and strategic partnerships SERVE Supporting throughout HEALTHY MARGINS the product lifecycle Through-cycle profitabil
Slide 12: Contact info
Job site of the future Contact info PATRICK N. DAVIDSON Senior Vice President, Investor Relations pdavidson@oshkoshcorp.com 920-502-3266 GREG SCHRIMPF Senior Manager, Investor Relations gschrimpf@oshkoshcorp.com 920-502-3318 FIRST QUARTER 2026 EARNINGS CALL | 12
Slide 13: Appendix
Appendix
Slide 14: Access
Access Q1 COMMENTS Dollars in millions Sales impacted by: − Sales volume Three months ended March 31 2026 2025 + Currency Net Sales $943.4 $957.1 Adjusted operating income* % Change (1.4)% (22.7)% impacted by: Adjusted operating income* $38.8 $107.8 − Sales mix − Price/cost dynamics % Change (64.0)%
Slide 15: Vocational
Vocational Q1 COMMENTS Dollars in millions Sales impacted by: − Sales volume Three months ended March 31 2026 2025 + Pricing Net Sales $825.0 $866.8 Adjusted operating income* % Change (4.8)% 12.2% impacted by: Adjusted operating income* $94.1 $128.8 − Sales volume − Mfg. overhead costs % Change (26
Slide 16: Transport
Transport Q1 COMMENTS Dollars in millions Sales impacted by: + NGDV ramp-up Three months ended March 31 2026 2025 + Changes to CCA Net Sales $512.8 $463.0 − TWV volume % Change 10.8% (9.1)% Operating income impacted by: Operating income $4.2 $0.6 + Lower unfavorable CCA % Change 600.0% (95.5)% + Sal
Slide 17: GAAP to Non-GAAP reconciliation
GAAP to Non-GAAP reconciliation The tables below present a reconciliation of the Company’s presented GAAP measures to the most directly comparable non-GAAP measures (unaudited; in millions, except per share amounts): Three Months Ended Three Months Ended March 31, 2026 March 31, 2025 Access segment
Slide 18: GAAP to Non-GAAP reconciliation
GAAP to Non-GAAP reconciliation The tables below present a reconciliation of the Company’s presented GAAP measures to the most directly comparable non-GAAP measures (unaudited; in millions, except per share amounts): 2026 Expectations 2026 Expectations Consolidated operating income (GAAP) $ 1,005 Lo
Slide 19: Commonly used acronyms
Commonly used acronyms ARFF Aircraft Rescue and Firefighting FHTV Family of Heavy Tactical Vehicles NRC National Rental Company AWP Aerial Work Platform FMAV Family of Multi-Mission Autonomous Vehicles OH Overhead AMPS Aftermarket Parts & Service FMS Foreign Military Sales OI Operating Income APAC A
Oshkosh Corporation (Holding Company)Common Stock — Q1 2026 Earnings Presentation on 6ix