Revenue Rises 0.2% to $2.3B but EPS Misses, Shares Drop 10.6%
OSK•Oshkosh Corporation’s Q1 revenue rose 0.2% to $2.3 billion but pro forma EPS missed expectations at $0.85 versus $1.04 forecast, while GAAP earnings plunged 60% to $0.68 per share. Negative free cash flow of $189.1 million and a 10.6% stock slide followed, although management reaffirmed full-year GAAP guidance of $10.90.
1. Q1 Revenue and Sales Performance
In the first quarter, revenue edged up 0.2% year-over-year to $2.3 billion, narrowly surpassing the consensus sales estimate. This modest top-line gain reflected steady demand across key end markets but highlighted continuing challenges in driving growth.
2. Earnings and Cash Flow Results
Pro forma earnings per share of $0.85 fell short of the $1.04 consensus, while GAAP EPS plunged 60% to $0.68 on higher costs and lower margin products. Free cash flow swung negative, recording an outflow of $189.1 million as working capital needs rose during the quarter.
3. Market Reaction and Guidance
Shares tumbled 10.6% following the earnings release as investors reacted to the profit miss and cash flow shortfall. Despite the setback, management maintained full-year GAAP EPS guidance at $10.90, citing continued order visibility and improving production efficiency.
