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Liz Claman, host of The Claman Countdown on Fox Business, began her June 5, 2025, interview with Oshkosh Corporation President and CEO John Pfeifer asking, “What the heck did you say that has the stock jumping this high?”

Pfeifer explained, “During Investor Day we laid out what we do — serving critical industries and delivering technology solutions for the everyday heroes working in those industries around the world — and gave our three-year targets. By 2028 we plan to increase by 10 percent compounded annual growth rate, take operating margin up 200-400 basis points and deliver $18-22 adjusted earnings per share with 90% free cash flow. When you give that update, it wakes up the market.” 

Making noise in New York City

Oshkosh is leading a technology-driven transformation, advancing innovation, executing with discipline and building a more resilient business positioned for growth, margin expansion and long-term value creation.

Pat Davidson, senior vice president of Investor Relations, began Investor Day explaining, “We're here to share who we are, what we're building, how we're creating value through innovation, culture and disciplined execution. Our focus is on growing revenue, improving margins and delivering shareholder value.”

During the presentation, leaders from the organization joined Pfeifer on stage to provide technology, segment and financial updates, where each reinforced Oshkosh’s strength in its industry-leading portfolio of brands, advanced technology and sustained demand across markets. Key takeaways include:

1. Oshkosh is growing revenue through disciplined execution of a robust, multi-year backlog, while transforming its operating model to unlock 200-400 basis points of margin expansion.
2. Oshkosh has transformed from a product-focused organization into an integrated global industrial technology company, accelerating innovation and building resiliency across every part of the business.
3. Oshkosh is there when it matters most, delivering the technology that powers today’s essential work and defining the neighborhoods, airports and job sites of the future.
4. Oshkosh is projecting strong long-term performance, aiming to nearly double EPS by 2028, grow revenue to $13–$14 billion, expand operating margins by 200-400 basis points and sustain 90%+ free cash flow conversion through the cycles as it generates strong returns and invests in its business.

To close out Investor Day, Oshkosh leaders met with multiple members of the media to share its financial targets, technology story and company vision, including appearances on NYSE TV, Yahoo Finance and the Schwab Network.

A replay of the live Investor Day webcast and supporting financial documents are available online and questions about Oshkosh’s financial targets should be directed to a member of the Investor Relations team.

 

Forward-looking Statements

This blog post relates to the Company’s 2025 Investor Day and related media appearances at which the Company discussed the Company’s strategy, financial targets and capital allocation priorities, its plans for growth in revenues, margin expansion and advancements in technology, and its investment thesis (its “2028 Targets”). All statements concerning the 2028 Targets, including without limitation the Company’s financial targets for 2028; growth trends and drivers; its strategic and capital allocation priorities; its plans, objectives and expectations; future financial and other results it seeks to attain; takeaways and messages; and its views of market opportunities and benefits and other matters resulting from the 2028 Targets, are statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Without limitation, when used in any relevant materials, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project,” “confident,” “executing,” “building,” “improving,” “advancing,” “expanding,” “trends,” “positioned,” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the cyclical nature of the Company’s access equipment, fire apparatus, refuse and recycling collection and air transportation equipment markets, which are particularly impacted by the strength of U.S. and European economies and construction seasons; the impact of orders and costs on the U.S. Postal Service contract; risks that a trade war and related tariffs could reduce the demand for or competitiveness of the Company’s products or cause inefficiencies in the Company's supply chain; the Company’s ability to increase prices to raise margins or to offset higher input costs; the Company's ability to accurately predict future input costs associated with Defense contracts; the Company’s ability to attract and retain production labor in a timely manner; the strength of the U.S. dollar and its impact on Company exports, translation of foreign sales and the cost of purchased materials; budget uncertainty for the U.S. federal government, including risks of future budget cuts, the impact of continuing resolution funding mechanisms and the potential for shutdowns; the cost of any warranty campaigns related to the Company’s products; the Company’s ability to successfully identify, complete and integrate acquisitions and to realize the anticipated benefits associated with the same; and risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the 2025 Investor Day presentation. The Company assumes no obligation, and disclaims any obligation, to update information contained herein to reflect subsequent events or circumstances.