Financial Data and Key Metrics Changes - The company reported adjusted operating margin of 10.2% on revenue of $2.7 billion for Q3 2025, leading to adjusted earnings per share (EPS) of $3.20, an increase of 9.2% year-over-year [6][14] - Consolidated sales decreased by $53 million, or 2%, from the same quarter last year, primarily due to lower sales volume in the access segment [14] - Adjusted operating income was $274 million, down slightly from the prior year, reflecting lower volume [14] Business Line Data and Key Metrics Changes - The access segment delivered adjusted operating income margins of 11% on sales of $1.1 billion, with sales down $254 million, or nearly 19% year-over-year, due to weaker market conditions in North America [15] - The vocational segment achieved adjusted operating income margin of 15.6% on $968 million in sales, with sales growing $154 million, or nearly 19% from last year, driven by improved throughput for municipal fire apparatus [16] - The transport segment saw sales increase by $48 million to $588 million, with delivery vehicle revenue growing by $114 million to $146 million, representing approximately one quarter of transport segment revenue [16] Market Data and Key Metrics Changes - The company noted that end market activity in the access segment remains healthy, but customers are being cautious with capital expenditures due to tariffs and the current economic environment [7][9] - The vocational segment continues to advance initiatives to support increased production of fire trucks, with strong orders recorded at $1.1 billion for the quarter [11] Company Strategy and Development Direction - The company is focusing on a local-for-local strategy in the access equipment world to manage the tariff landscape and minimize costs [47] - The long-term vision shared at the Investor Day aims to roughly double adjusted EPS to a range of $18 to $22 per share by 2028 [19] - The company is aggressively pursuing cost levers to offset the impact of tariffs and plans to raise prices in 2026 to keep pace with input costs [9][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the dynamic year in 2025, including the impact of tariffs and sustained higher interest rates, but expressed confidence in managing the near term while supporting long-term growth objectives [19] - The updated full-year adjusted EPS guidance is in the range of $10.50 to $11.00, reflecting lower revenue expectations for both access and transport segments [18] Other Important Information - The company repurchased approximately 666,000 shares for $91 million during the quarter, bringing year-to-date share repurchases to $159 million [15] - Free cash flow for the quarter was strong at $464 million compared to $272 million in the same quarter last year [15] Q&A Session Summary Question: What is the outlook for access equipment demand in 2026? - Management indicated that while there is hesitancy in the near term, long-term demand drivers remain strong, with ongoing mega projects and a positive sign in commercial construction activity [30] Question: How has the tariff situation changed and what is the mitigation strategy? - The estimated tariff impact for the year is $30 to $40 million, with plans to implement pricing adjustments in 2026 to offset these costs [32] Question: Can the company offset tariff headwinds in 2026? - Management stated that their approach includes negotiating supply chain adjustments and tariff engineering, with a focus on minimizing customer impact [40][41] Question: What is the expected order activity for the fourth quarter? - Management noted that order activity is uncertain, with potential for orders to slip into January due to price negotiations [95] Question: How is the company addressing warranty costs? - Warranty costs were attributed to a one-time charge related to defense sector vehicles, and management expects this issue to be resolved moving forward [53][54]

Financial Data and Key Metrics Changes - The company reported adjusted operating margin of 10.2% on revenue of $2.7 billion for Q3 2025, leading to adjusted earnings per share (EPS) of $3.20, an increase of 9.2% year-over-year [6][14] - Consolidated sales decreased by $53 million, or 2%, compared to the same quarter last year, primarily due to lower sales volume in the Access segment [14] - Adjusted operating income was $274 million, down slightly from the prior year, reflecting lower volume [14] Business Line Data and Key Metrics Changes - The Access segment achieved adjusted operating income margins of 11% on sales of $1.1 billion, with sales down $254 million, or nearly 19% year-over-year, due to weaker market conditions in North America [15][16] - The Vocational segment saw strong sales growth, achieving an adjusted operating income margin of 15.6% on $968 million in sales, up $154 million, or nearly 19% from last year [16] - The Transport segment's sales increased by $48 million to $588 million, with delivery vehicle revenue growing by $114 million to $146 million, representing approximately one quarter of transport segment revenue [16][17] Market Data and Key Metrics Changes - The company noted that end market activity in the Access segment remains healthy, but customers are cautious with capital expenditures due to tariffs and the economic environment [7][9] - The vocational segment recorded strong orders of $1.1 billion, led by Pierce fire trucks and AeroTech products, indicating robust demand [11] Company Strategy and Development Direction - The company is focused on a local-for-local strategy in the Access equipment sector to manage tariff impacts and maintain competitiveness [48] - The long-term vision includes doubling adjusted EPS to a range of $18-$22 per share by 2028, with ongoing efforts to streamline production and improve efficiency [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the dynamic environment in 2025, including tariff impacts and sustained higher interest rates, but expressed confidence in managing these challenges while delivering solid results [20] - The updated full-year adjusted EPS guidance is now in the range of $10.50-$11.00, reflecting lower revenue expectations for the Access and Transport segments [19] Other Important Information - The company repurchased approximately 666,000 shares for $91 million during the quarter, bringing year-to-date repurchases to $159 million [15] - Free cash flow for the quarter was strong at $464 million, compared to $272 million in the same quarter last year [15] Q&A Session Summary Question: Access segment demand outlook for 2026 - Management indicated that while there is hesitancy in the near term, long-term demand drivers remain strong, with ongoing discussions with customers about 2026 expectations [27][30] Question: Impact of tariffs on costs - The estimated tariff impact for the year is $30 million-$40 million, with expectations for pricing adjustments in 2026 to mitigate these costs [33][34] Question: Competitive landscape in Access equipment - Management believes their local manufacturing strategy positions them well against competitors, particularly those outside the U.S., and they are focused on driving improvements for customers [48][49] Question: Warranty costs and their implications - Warranty costs in Q3 were attributed to one-time issues related to defense sector vehicles, and management does not expect this to be an ongoing issue [54][55] Question: NGDV production challenges - Management confirmed that while there are challenges in ramping up production, they are targeting full-rate production by the end of the year [73][76]

Oshkosh (NYSE:OSK) Q3 2025 Earnings Call October 29, 2025 09:30 AM ET Speaker3Greetings and welcome to the Oshkosh Corporation Third Quarter 2025 Results Conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your hos ...

EARNINGS UPDATE | OCTOBER 29, 2025 Q3 2025 THIRD QUARTER 2025 EARNINGS CALL | 1 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 regarding the Company's future financial position, business strategy, growth and drivers, capital allocation, resiliency, targets ( ...

Core Insights - Oshkosh (OSK) reported quarterly earnings of $3.2 per share, exceeding the Zacks Consensus Estimate of $3.12 per share, and up from $2.93 per share a year ago [1] - The earnings surprise for this quarter was +2.56%, following a previous quarter where the company reported earnings of $3.41 per share against an expectation of $2.98, resulting in a surprise of +14.43% [2] - The company posted revenues of $2.69 billion for the quarter ended September 2025, which was 4.78% below the Zacks Consensus Estimate and down from $2.74 billion year-over-year [3] Financial Performance - Over the last four quarters, Oshkosh has surpassed consensus EPS estimates three times [2] - The company has topped consensus revenue estimates two times in the last four quarters [3] - Oshkosh shares have increased approximately 44.7% since the beginning of the year, compared to a 17.2% gain in the S&P 500 [4] Future Outlook - The company's earnings outlook will be crucial for determining future stock performance, with current consensus EPS estimates at $2.56 for the coming quarter and $11.02 for the current fiscal year [5][8] - The Zacks Rank for Oshkosh is currently 3 (Hold), indicating expected performance in line with the market in the near future [7] - The industry outlook, particularly for the Manufacturing - General Industrial sector, is currently in the bottom 37% of Zacks industries, which may impact stock performance [9]

Core Viewpoint - JLG Industries has launched the LiftPod, a revolutionary elevation device that introduces the Quick Fold Lift category, aimed at enhancing safety, convenience, and sustainability for indoor work at height [1][2][12]. Product Overview - LiftPod is a first-to-market elevation device designed for low-level access, offering a safer and more efficient alternative to traditional ladders and podiums [2][3]. - The device is available in two models, LiftPod 1.2 and LiftPod 1.5, with a 1.8 model expected to launch in 2026 [6][11]. Design and Features - The LiftPod features a patented self-powered lifting mechanism, fully adjustable platform, and a compact footprint of less than 1 square meter when in use, making it suitable for various public and indoor spaces [7][8]. - It can carry up to 150 kg and is designed for easy maneuverability, allowing for quick transitions from storage to task locations [7][8]. Safety and Ergonomics - The design focuses on reducing the risk of falls and injuries, promoting staff wellbeing through an ergonomic structure developed with input from ergonomics experts [5][9]. - LiftPod addresses potential spinal stress issues during transport and setup, minimizing awkward postures and repetitive strain [9]. Market Positioning - LiftPod is positioned as an essential tool for facility managers and business owners in sectors such as hospitality, retail, and healthcare, aiming to improve operational efficiency and employee safety [3][4][10]. - The launch will be supported by a Europe-wide marketing campaign encouraging businesses to "Re-think UP" [14].

Core Points - Oshkosh Corporation will announce its third quarter 2025 earnings on October 29, 2025, with a live webcast scheduled for 9:30 a.m. EDT [1] - The company is a leading innovator in purpose-built vehicles and equipment, employing over 18,000 team members globally [2][4] Financial Information - The third quarter 2025 financial results will be discussed during a live webcast, with slides available on the company's website on the morning of the announcement [1] Company Overview - Oshkosh Corporation is headquartered in Wisconsin and operates under various brands, including JLG, Pierce, and Oshkosh Defense, with products available in over 150 countries [2] - The company focuses on making a difference in people's lives through its innovative products [2]

Core Insights - Oshkosh Defense LLC will showcase its Family of Multi-Mission Autonomous Vehicles (FMAV) at the AUSA Annual Meeting & Exposition scheduled for October 13–15, 2025 [1] - The FMAV platforms are designed to support the U.S. Army's modernization priorities, including long-range precision fires and resilient formations [1] Company Overview - Oshkosh Defense LLC is a subsidiary of Oshkosh Corporation, listed on NYSE under the ticker OSK [1] - The introduction of FMAV aligns with the U.S. Army's accelerated transformation efforts [1]

Core Insights - Forterra, Raytheon, and Oshkosh Defense are collaborating to showcase the DeepFires™ autonomous launcher prototypes at the 2025 Association of the United States Army's Annual Meeting and Exposition, aiming to enhance the U.S. Army's capabilities in autonomous mission systems [1][4] Company Summaries Forterra - Forterra specializes in autonomous mission systems, providing scalable and robust hardware and software platforms that enhance operational effectiveness across various applications [6] - The company is responsible for the autonomy system, AutoDrive, which allows the DeepFires launcher to operate autonomously or with a crew, thereby improving soldier safety [3][5] Raytheon - Raytheon serves as the prime contractor for the DeepFires program, integrating advanced weapons systems to ensure high lethality and effectiveness [3][7] - The company has over 100 years of experience in developing defense technologies, including air and missile defense systems, smart weapons, and advanced sensors [7] Oshkosh Defense - Oshkosh Defense provides the base vehicle platform for the DeepFires launcher, leveraging decades of experience in producing reliable tactical vehicles for the Army [3][8] - The company focuses on advancing safety and mission success through emerging technologies and ensures fleet readiness throughout the lifecycle of its solutions [8]

Core Insights - Investors are evaluating Oshkosh (OSK) and Ingersoll Rand (IR) for value investment opportunities, with a focus on their financial metrics and earnings outlooks [1][3]. Valuation Metrics - Both OSK and IR currently hold a Zacks Rank of 2 (Buy), indicating a positive earnings outlook due to favorable analyst estimate revisions [3]. - OSK has a forward P/E ratio of 11.86, significantly lower than IR's forward P/E of 24.49, suggesting OSK may be undervalued [5]. - The PEG ratio for OSK is 1.63, while IR's PEG ratio is 4.52, indicating OSK's expected earnings growth is more favorable relative to its price [5]. - OSK's P/B ratio stands at 1.86, compared to IR's P/B of 3.23, further supporting the notion that OSK is a more attractive value option [6]. Value Grades - OSK has a Value grade of B, while IR has a Value grade of D, highlighting OSK's stronger position in terms of valuation metrics [6].