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Oshkosh (OSK) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Oshkosh (OSK) Q3 2026 earnings results →

Q3 2026 Revenue up 6% year over year to $2.8B · 5¢ of every $1 of revenue kept as net profit · operating margin 6.9%

Oshkosh made $2.8B in Q3 2026 (+6% Y/Y). Operating margin 6.9%, net earnings $138M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$2.8B
Year over year+6%
Operating margin6.9%
Net earnings$138M
Operating cash flow$320M

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Oshkosh Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Oshkosh Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.8B in Q3 2026, up 6% year over year and down 3% from the previous quarter.

Gross margin was 15.5%, down 2.0 points from Q3 2025. Operating profit was $0.20B, a 6.9% margin (down 2.7 points year over year). Operating profit fell $0.06B even though revenue rose $0.15B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 16% against revenue growth of 6%. Net earnings were $0.14B, down 29% year over year. The effective tax rate was 22.6%.

Operating cash flow was $0.32B (down 35% year over year), 231% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.11B. Capital expenditures of $0.05B left free cash flow of $0.27B.

Quarterly history

Oshkosh revenue by quarterOshkosh revenue by quarter$2.3BQ1 2025$2.7BQ2 2025$2.7BQ3 2025$2.7BQ4 2025$2.3BQ1 2026$2.9BQ2 2026$2.8BQ3 2026
Oshkosh net earnings by quarterOshkosh net earnings by quarter$112MQ1 2025$205MQ2 2025$196MQ3 2025$134MQ4 2025$43.1MQ1 2026$183MQ2 2026$138MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 29, 2026$2.8B+6%6.9%$138M$320M
Q2 202610-QJul 28, 2026$2.9B+7%8.3%$183M$374M
Q1 202610-QMay 8, 2026$2.3B+0.2%3.5%$43.1M−$161M
Q4 202510-KFeb 17, 2026$2.7B+4%7.9%$134M$600M
Q3 202510-QOct 29, 2025$2.7B-2%9.7%$196M$489M
Q2 202510-QAug 1, 2025$2.7B-4%10.7%$205M$89.2M
Q1 202510-QApr 30, 2025$2.3B-9%7.6%$112M−$395M

Charts

Oshkosh: revenue growth, year over year and quarter over quarterOshkosh: revenue growth, year over year and quarter over quarterY/YQ/Q-9%Q1 2025-4%+18%Q2 2025-2%-2%Q3 2025+4%+0%Q4 2025+0%-14%Q1 2026+7%+26%Q2 2026+6%-3%Q3 2026
Latest (Q3 2026): Y/Y +6%, Q/Q -3%.
Oshkosh: where the cash came from (+) and went (−), TTM to Q3 2026Oshkosh: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$1.1BCash drawn (+) / kept (−)−$346MBuybacks−$340MCapital spending−$160MDividends−$138MNet borrowing (+) / repaid (−)−$104MOther financing−$53.4MOther investing$11.2MExchange rates−$2.3M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Oshkosh: profit against cash, quarter by quarterOshkosh: profit against cash, quarter by quarterNet incomeOperating cash flow$153M$791MQ4 2024$112M−$395MQ1 2025$205M$89.2MQ2 2025$196M$489MQ3 2025$134M$600MQ4 2025$43.1M−$161MQ1 2026$183M$374MQ2 2026$138M$320MQ3 2026
Latest (Q3 2026): Net income $138M, Operating cash flow $320M.
Oshkosh: diluted shares by fiscal yearOshkosh: diluted shares by fiscal year66MFY202266MFY202366MFY202465MFY2025
-2.4% since FY2022: buybacks shrank the count.
Oshkosh in its industry: growth against margin (12 companies, SIC 3711)Oshkosh in its industry: growth against margin (12 companies, SIC 3711)revenue growth, year over year →↑ operating marginmedian +18%median 3%GMFTSLAPCARRIVNFSSLCIDCENNWKHSFLYEFFAIOSK (+6%, 7%)
Motor Vehicles & Passenger Car Bodies; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About Oshkosh

Oshkosh Corporation is a global industrial technology company that designs and deploys advanced technologies to empower everyday heroes who build, serve and protect communities around the world. Across construction, firefighting, aviation, refuse collection, defense and delivery industries, we create purpose-built vehicles, equipment and integrated ecosystems that are safe, intuitive and highly productive. As an innovator and integrator, we work directly with our customers to solve real-world challenges – developing and applying breakthrough technologies in autonomy, artificial intelligence, connectivity and electrification. Through these advancements, we make some of the world’s toughest jobs safe, efficient, sustainable and connected — delivering measurable impact for the people who depend on us every day.

In its own words, from its 10-K, filed Feb 17, 2026.

Oshkosh against its Motor Vehicles & Passenger Car Bodies peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +6%. Operating margin: 6.9% against the peers' median 2.9%.

CompanyQuarterRevenueY/YOp. margin
OSK OshkoshQ3 2026$2.8B+6%6.9%
GM General MotorsQ3 2026$50.0B+3%7.2%
F Ford MotorQ3 2026$49.5B-2%2.9%
TSLA TeslaQ3 2026$28.0B-0.2%2.6%
PCAR PaccarQ3 2026$7.9B+19%13.6%
RIVN Rivian AutomotiveQ3 2026$2.2B+38%-40.9%
FSS Federal SignalQ3 2026$656M+18%17.0%
LCID Lucid GroupQ2 2026$405M+56%-267.0%
CENN CenntroQ2 2026$6.2M-3%-120.5%

Source: Oshkosh 10-Q on SEC EDGAR · CIK 775158 · Motor Vehicles & Passenger Car Bodies

Guidance and outlook

Oshkosh Revenue: guidance against what was reportedOshkosh Revenue: guidance against what was reportedguided rangereported (above / within / below)FY2024$10.7BFY2025$10.4BFY2026
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Oshkosh: what its forward-looking statements are about (10-Q filed 2026-07-28)Oshkosh: what its forward-looking statements are about (10-Q filed 2026-07-28)Demand3Other3Margins2Legal & regulation2Financing2Costs1Supply chain1Capital spending1Backlog1
16 statements; tone +0.19 (−1 all cautious, +1 all confident); 1 hedged.
Oshkosh: outlook statements against the filing beforeOshkosh: outlook statements against the filing beforeConfident3

13F: who owns OSK and who is buying

Largest holders of OSK (13F)Largest holders of OSK (13F)Vanguard Group$976MBlackRock$914MAristotle Capital Management, LLC$725MVanguard Portfolio Management LLC$668MAQR Capital Management LLC$518MDimensional Fund Advisors LP$492MVanguard Capital Management LLC$432MGreenhaven Associates$326MState Street$320MInvesco$295M
Funds' net buying of OSK by quarter (13F)Funds' net buying of OSK by quarter (13F)$15.4M2024-09−$42.1M2024-12$86.1M2025-03−$6.3M2025-06$18.8M2025-09$473M2025-12−$417M2026-03$283M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on OSK

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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