Oshkosh (OSK) Q3 FY2026 earnings: revenue $2.8 billion, up 5.7% on the year

Oshkosh Corp. (OSK) reported revenue of $2.8 billion for Q3 FY2026, the quarter ended 30 September 2026, up 5.7% on the same quarter a year earlier. Net income was $138 million, down 29.5% on the year. The figures are the company's own, from the 10-Q it filed with the SEC on 29 October 2026.

Revenue$2.8 billionup 5.7%

Net income$138 milliondown 29.5%

Diluted EPSn/a

QuarterQ3 FY2026ended 30 September 2026

What management said

Guidance figures: 3 lowered, 1 new.

Sales rose 5.7 percent: Net sales were $2.84 billion, up $153.0 million, on higher Access volume and better pricing in all three segments, partly offset by lower Vocational volume.
Operating income fell 24.3 percent: Operating income fell to $197.1 million, or 6.9 percent of sales, from $260.4 million, or 9.7 percent, mainly on unfavorable sales mix and higher SG&A.
Access sales up 20.7 percent: Access sales rose $229.9 million to $1.34 billion on North American volume and better pricing. Operating income rose 23.5 percent to $145.7 million, or 10.9 percent of sales.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Revenue	2,842	2,915	2,689	+5.7%
Cost of revenue	2,401	2,435	2,218	+8.3%
Gross profit	440	480	470	-6.4%
Gross margin	15.5%	16.5%	17.5%
Research and development	42.2	39.8	39.4	+7.1%
Selling, general and administrative	229	223	196	+16.7%
Operating income	197	243	260	-24.3%
Operating margin	6.9%	8.3%	9.7%
Pre-tax income	178	220	238	-25.4%
Income tax	40.5	37.2	41.7	-2.9%
Effective tax rate	22.8%	16.9%	17.5%
Net income	138	183	196	-29.5%
Net margin	4.9%	6.3%	7.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Operating cash flow	320	374	489	-34.6%
Capital expenditure	45.2	26.7	38.9	+16.2%
Free cash flow	275	348	450	-39.0%
Free cash flow margin	9.7%	11.9%	16.7%
Cash from investing	-37.9	-43.2	-37.2	n/a
Cash from financing	-126	-177	-431	n/a
Depreciation and amortisation	62.8	62.2	56.3	+11.5%
Share-based compensation	11.9	12.0	10.7	+11.2%
Buybacks	82.4	91.6	90.6	-9.1%
Dividends paid	35.2	35.4	32.6	+8.0%
Dividend per share	$0.57	$0.57	$0.51	+11.8%
Diluted shares, weighted	62m	63m	65m	-3.6%
Shares outstanding at period end	61m	62m	63m	-3.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Shareholders' equity	4,551	4,527	4,537	+0.3%
Debt	1,101	1,103	1,206	-8.7%
Other liabilities	4,603	4,421	4,097	+12.4%
Total liabilities and equity	10,256	10,052	9,840	+4.2%
Fixed assets	1,244	1,248	1,249	-0.4%
Goodwill	1,436	1,439	1,447	-0.8%
Intangible assets	689	704	743	-7.3%
Cash and equivalents	558	404	212	+163.5%
Receivables	1,639	1,646	1,451	+13.0%
Inventory	2,280	2,308	2,458	-7.2%
Other assets	2,409	2,303	2,280	+5.7%
Total assets	10,256	10,052	9,840	+4.2%

Questions

What was Oshkosh's revenue in Q3 FY2026?

Oshkosh (OSK) reported revenue of $2.8 billion for Q3 FY2026, the quarter ended 30 September 2026, up 5.7% on the same quarter a year earlier.

How much did Oshkosh earn in Q3 FY2026?

Net income for Q3 FY2026 was $138 million, down 29.5% on the year.

When did Oshkosh report Q3 FY2026 results?

Oshkosh filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 29 October 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 †	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,792	1,946	2,066	2,067	2,204	2,268	2,413	2,510	2,467	2,544	2,847	2,741	2,598	2,313	2,732	2,689	2,689	2,318	2,915	2,842
Cost of revenue	1,596	1,744	1,819	1,778	1,869	1,934	1,989	2,042	2,012	2,074	2,301	2,235	2,151	1,913	2,208	2,218	2,265	2,006	2,435	2,401
Gross profit	195	204	247	289	315	334	424	468	454	470	546	506	447	400	524	470	424	312	480	440
Gross margin	11%	10%	12%	14%	14%	15%	18%	19%	18%	18%	19%	18%	17%	17%	19%	17%	16%	13%	16%	15%
R&D	25.6	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	39.3	44.1	40.2	45.5	48.8	45.0	39.4	40.5	39.1	39.8	42.2
SG&A	151	169	168	166	159	199	185	202	224	197	220	226	209	211	213	196	198	216	223	229
Operating income	41.6	31.8	76.3	117	147	131	235	256	215	260	261	266	224	175	292	260	212	82.0	243	197
Operating margin	2%	2%	4%	6%	7%	6%	10%	10%	9%	10%	9%	10%	9%	8%	11%	10%	8%	4%	8%	7%
Pre-tax income	24.2	18.8	42.4	89.6	125	129	232	241	195	237	229	238	199	151	271	238	182	54.7	220	178
Tax rate	5%	107%	32%	33%	27%	26%	24%	23%	23%	23%	23%	24%	23%	24%	24%	17%	26%	19%	17%	23%
Net income	24.2	-0.2	32.1	66.9	75.1	88.5	175	184	151	179	169	180	153	112	205	196	134	43.1	183	138
Net margin	1%	-0%	2%	3%	3%	4%	7%	7%	6%	7%	6%	7%	6%	5%	7%	7%	5%	2%	6%	5%
Diluted EPS	n/a	n/a	$0.49	$1.02	$1.14	n/a	n/a	n/a	$2.28	n/a	n/a	n/a	$2.33	n/a	n/a	n/a	$2.10	n/a	n/a	n/a
Operating cash flow	-163	329	-352	161	463	79.8	-126	167	480	-356	-211	326	791	-395	89.2	489	600	-161	374	320
Capital expenditure	39.4	26.1	84.2	50.0	109	112	18.3	98.2	97.3	100	41.5	55.2	87.5	40.3	54.3	38.9	59.8	28.1	26.7	45.2
Free cash flow	-202	303	-436	111	354	-31.7	-145	68.4	382	-456	-252	271	703	-435	34.9	450	540	-189	348	275
Buybacks	n/a	85.0	69.6	0.0	0.0	15.2	7.4	0.0	-0.1	15.1	39.5	11.0	50.4	28.7	40.0	90.6	119	47.3	91.6	82.4
Dividends paid	24.9	24.5	24.4	24.2	24.2	26.8	26.8	26.7	26.9	30.1	30.1	29.9	29.9	32.9	32.8	32.6	32.1	35.6	35.4	35.2
Shares outstanding	67m	66m	65m	65m	65m	65m	65m	65m	65m	65m	65m	65m	65m	64m	64m	63m	63m	63m	62m	61m
Filing	10-K	10-Q	10-K	10-K	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 29 October 2026: the filing.