Oshkosh Corporation (holding Company) · NYSE:OSK
Oshkosh Corporation (holding Company) — Q2 2026 Earnings Presentation
20 slides from Oshkosh Corporation (holding Company)'s earnings presentation, Jul 28, 2026
Slide 1: Q2 2026 Earnings Update
Q2 2026 EARNINGS UPDATE | JULY 28, 2026 SECOND 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: Q2 consolidated results
Q2 consolidated results REVENUE ADJ. OPERATING ADJ. OI MARGIN* ADJ. EPS* (in billions) INCOME* (in millions) $2.92 11.5% $3.41 $2.73 $312.9 $2.87 $257.6 8.8% 2025 2026 2025 2026 2025 2026 2025 2026 * Non-GAAP results. See appendix for reconciliation to GAAP results. SECOND 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: Q2 highlights – Access
Q2 highlights – Access MARKET-LEADING JLG PRODUCTS DEMAND FOR SCISSOR LIFTS Demand increasing as AWPs benefit from strong mega project activity. JLG scissor lifts are ready for duty as demand remains strong. SECOND QUARTER 2026 EARNINGS CALL | 5
Slide 6: Q2 highlights – Vocational
Q2 highlights – Vocational MARKET LEADERSHIP TRANSFORMING FIRE TRUCK MANUFACTURING Strong demand for Oshkosh ARFF products as airports Pierce continues to modernize manufacturing operations. upgrade safety and preparedness levels. SECOND QUARTER 2026 EARNINGS CALL | 6
Slide 7: Q2 highlights – Transport
Q2 highlights – Transport NGDV MANUFACTURING ROGUE-FIRES Factory in South Carolina ramps up production of Next Generation USMC placed a $92 million order. Delivery Vehicles. SECOND QUARTER 2026 EARNINGS CALL | 7
Slide 8: Q2 consolidated results
Q2 consolidated results Dollars in millions, except per share amounts Three months ended June 30 2026 2025 Q2 COMMENTS Sales impacted by: Net Sales $2,915.1 $2,732.1 + Sales volume % Change 6.7% (4.0)% + Pricing Adjusted operating income* $257.6 $312.9 Adjusted EPS* impacted by: % Change (17.7)% (4.
Slide 9: Q2 segment financial results
Q2 segment financial results Access Segment Vocational Segment Transport Segment $1.37B $967M $536M REVENUE REVENUE REVENUE 11.3% 13.5% 2.9% ADJUSTED OI MARGIN* ADJUSTED OI MARGIN* OI MARGIN * Non-GAAP results. See appendix for reconciliation to GAAP results. SECOND QUARTER 2026 EARNINGS CALL | 9
Slide 10: Updated 2026 outlook
Updated 2026 outlook FULL YEAR EXPECTATIONS IN THE RANGE OF: • Revenues of ~$11.2 billion • Adj. operating income* of ~$1.0 billion • Adjusted EPS* of ~$11.00 • Free cash flow* of $550-$650 million ADDITIONAL EXPECTATIONS: • Q4 EPS stronger than Q3 EPS, reflecting: − Improved fire truck throughput −
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
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 SECOND QUARTER 2026 EARNINGS CALL | 12
Slide 13: Appendix
Appendix
Slide 14: Access
Access Q2 COMMENTS Dollars in millions Sales impacted by: + Sales volume Three months ended June 30 2026 2025 + Pricing Net Sales $1,373.8 $1,256.0 Adjusted operating income* % Change 9.4% (10.7)% impacted by: Adjusted operating income* $155.8 $185.7 − Sales mix − Price/cost dynamics % Change (16.1)
Slide 15: Vocational
Vocational Q2 COMMENTS Dollars in millions Sales impacted by: − Sales volume Three months ended June 30 2026 2025 + Pricing Net Sales $966.8 $969.7 Adjusted operating income* % Change (0.3)% 15.0% impacted by: Adjusted operating income* $130.5 $157.9 − Sales mix − Mfg. overhead costs % Change (17.4)
Slide 16: Transport
Transport Q2 COMMENTS Dollars in millions Sales impacted by: + NGDV ramp-up Three months ended June 30 2026 2025 − Defense volume Net Sales $536.1 $479.1 Operating income impacted by: % Change 11.9% (16.2)% − Sales mix Operating income $15.8 $17.8 − Warranty costs % Change (11.2)% 49.6% − Mfg. overh
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): Three Months Ended Three Months Ended June 30, 2026 June 30, 2025 Access segment operating income (GAAP) $ 15
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): Three Months Ended June 30, 2026 2025 Earnings per share-diluted (GAAP) $ 2.92 $ 3.
Slide 19: 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 2026 Expectations Expectations Low High Consolidated operating income (GAAP) $
Slide 20: Commonly used acronyms
Commonly used acronyms AI Artificial Intelligence FCF Free Cash Flow NOL Net Operating Loss ARFF Aircraft Rescue and Firefighting FDIC Fire Department Instructors Conference NPD New Product Development AWP Aerial Work Platform FHTV Family of Heavy Tactical Vehicles NRC National Rental Company AMPS A
Oshkosh Corporation (Holding Company)Common Stock — Q2 2026 Earnings Presentation on 6ix