Oshkosh Corporation reported a consolidated net sales of $10.42 billion for the fiscal year ending December 31, 2025, a decrease of 2.9% from $10.73 billion in 2024. The company's operating income also fell to $939.5 million, down 7.0% from the previous year's $1.01 billion. The decline in revenue was primarily attributed to lower organic sales volumes in the Access and Transport segments, which saw decreases of $659 million and $107 million, respectively. However, the Vocational segment experienced a 12.6% increase in sales, contributing $3.73 billion, largely due to improved production rates and pricing.
In terms of profitability, Oshkosh's diluted earnings per share (EPS) for 2025 was reported at $10.02, compared to $10.35 in 2024. The company noted that cash flows from operations increased significantly to $783 million, up $233 million from the previous year, aided by improved customer communications and advances. The enactment of the One Big Beautiful Bill Act (OBBBA) in July 2025 also provided a tax benefit of approximately $90 million, further supporting the company's financial position.
Strategically, Oshkosh has been active in acquisitions, completing the purchase of AUSA, a Spanish manufacturer, for $114.5 million in September 2024, and AeroTech from JBT Corporation for $804.6 million in August 2023. These acquisitions are expected to enhance the company's capabilities in the Access and Vocational segments. Additionally, Oshkosh has focused on expanding its product offerings, including the introduction of electric vehicles and advanced technologies in its product lines.
Operationally, Oshkosh's workforce comprised approximately 18,400 employees as of December 31, 2025, with a significant portion involved in production roles. The company reported a backlog of $14.2 billion, a decrease of 3.8% from the previous year, reflecting a slowdown in demand, particularly in the Access segment. The company anticipates consolidated sales of approximately $11.0 billion for 2026, with expectations of improved performance in the Vocational and Transport segments, while Access segment sales are projected to decline slightly due to ongoing market conditions.
About OSHKOSH CORP
Oshkosh Corporation is a global industrial technology company specializing in purpose-built vehicles and equipment for markets including defense, fire and emergency, construction, aviation, and waste management. Its core brands include JLG, Pierce, McNeilus, AeroTech, and Oshkosh Defense. The company focuses on innovation, quality, and customer service, leveraging advanced technologies like electrification and autonomy to serve government and commercial customers worldwide.
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