It has been about a month since the last earnings report for Oshkosh (OSK). Shares have lost about 7% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Oshkosh due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Oshkosh Beats Q2 Earnings Estimates, Raises FY19 ViewOshkosh recorded earnings of $1.82 per share in the second quarter of fiscal 2019 (Mar 31, 2019), beating the Zacks Consensus Estimate of $1.62. In the year-ago quarter, earnings were $1.47 per share. Net income was $128.5 million compared with $110.8 million in the year-ago quarter.In the reported quarter, consolidated net sales rose 5.5% to $1.99 billion. The figure surpassed the Zacks Consensus Estimate of $1.96 billion. This rise in sales was due to increased sales in higher access equipment, defense, and fire & emergency segments.In the second quarter of fiscal 2019, consolidated operating income augmented 12.3% year over to $175.6 million (8.8% of sales).Segmental DetailsNet sales for Access equipment increased 6.4% year over year to $988 million, driven by rise in sales volume and higher pricing. In the quarter under review, operating income was $119.8 million (12.1% of sales).The Defense segment’s net sales increased 13.7% to $486.7 million, owing to improved sales to the U.S. government. Operating income rose 7.9% to $52.2 million (10.7% of sales).Net sales for the Fire & Emergency segment rose 3.7% to $283.2 million. This rise was driven by sales of higher content units and improved pricing. Operating income increased 1.7% to $36.6 million (12.9% of sales).Net sales for the Commercial segment decreased 9.9% to $238 million on lower deliveries, impacted by the winter weather. The segment’s operating income decreased to $7.8 million (3.3% of sales) from $16.4 million (6.2% of sales) recorded in the year-ago quarter.Financial DetailsOshkosh had cash and cash equivalents of $322 million as of Mar 31, 2019, compared with $454.6 million as of Sep 30, 2018. The company’s long-term debt was $818.5 million in the second quarter of fiscal 2019, similar to the figure recorded at the end of fiscal 2018.In the first six months of fiscal 2019, Oshkosh’s net cash used by operating activities was $153 million compared with a cash inflow of $44 million a year ago.Share Buyback UpdateDuring the quarter ended on Mar 31, 2019, the company bought back shares for $25 million and completed repurchasing 313,626 units of common stock.How Have Estimates Been Moving Since Then?It turns out, fresh estimates flatlined during the past month.VGM ScoresAt this time, Oshkosh has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookOshkosh has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oshkosh Corporation (OSK): Free Stock Analysis Report To read this article on Zacks.com click here.