As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q4. Today, we are looking at heavy transportation equipment stocks, starting with Oshkosh (NYSE: OSK).

Heavy transportation equipment companies are investing in automated vehicles that increase efficiencies and connected machinery that collects actionable data. Some are also developing electric vehicles and mobility solutions to address customers’ concerns about carbon emissions, creating new sales opportunities. On the other hand, heavy transportation equipment companies are at the whim of economic cycles. Interest rates, for example, can greatly impact the construction and transport volumes that drive demand for these companies’ offerings.

The 12 heavy transportation equipment stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 4.6% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 9.3% on average since the latest earnings results.

Oshkosh (NYSE: OSK)

Oshkosh (NYSE: OSK) manufactures specialty vehicles for the defense, fire, emergency, and commercial industry, operating various brand subsidiaries within each industry.

Oshkosh reported revenues of $2.69 billion, up 2.5% year on year. This print exceeded analysts’ expectations by 2.6%. Despite the top-line beat, it was still a mixed quarter for the company with an impressive beat of analysts’ revenue estimates but full-year EPS guidance missing analysts’ expectations significantly.

“Oshkosh delivered a strong close to 2025 with fourth quarter results that were within our expectations driven by our people and innovative products, capping another year of solid execution across our portfolio,” said John Pfeifer, president and chief executive officer of Oshkosh Corporation.

Interestingly, the stock is up 1.2% since reporting and currently trades at $147.89.

Read our full report on Oshkosh here, it’s free.

Best Q4: Douglas Dynamics (NYSE: PLOW)

Once manufacturing snowplows designed for the iconic jeep vehicle precursor, Douglas Dynamics (NYSE: PLOW) offers snow and ice equipment for the roads and sidewalks.

Douglas Dynamics reported revenues of $184.5 million, up 28.6% year on year, outperforming analysts’ expectations by 8.6%. The business had an incredible quarter with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.

Douglas Dynamics pulled off the fastest revenue growth among its peers. However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $42.94.

Is now the time to buy Douglas Dynamics? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Wabash (NYSE: WNC)

With its first trailer reportedly built on two sawhorses, Wabash (NYSE: WNC) offers semi trailers, liquid transportation containers, truck bodies, and equipment for moving goods.

Wabash reported revenues of $321.5 million, down 22.9% year on year, exceeding analysts’ expectations by 1%. Still, it was a disappointing quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and a significant miss of analysts’ adjusted operating income estimates.

Wabash delivered the slowest revenue growth in the group. As expected, the stock is down 18.1% since the results and currently trades at $9.21.

Read our full analysis of Wabash’s results here.

Allison Transmission (NYSE: ALSN)

Helping build race cars at one point, Allison Transmission (NYSE: ALSN) offers transmissions to original equipment manufacturers and fleet operators.

Allison Transmission reported revenues of $737 million, down 7.4% year on year. This print beat analysts’ expectations by 1.4%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ adjusted operating income estimates and full-year revenue guidance exceeding analysts’ expectations.

The stock is flat since reporting and currently trades at $117.80.

Read our full, actionable report on Allison Transmission here, it’s free.

Cummins (NYSE: CMI)

With more than half of the heavy-duty truck market using its engines at one point, Cummins (NYSE: CMI) offers engines and power systems.

Cummins reported revenues of $8.54 billion, up 1.1% year on year. This result topped analysts’ expectations by 5.3%. It was a strong quarter as it also logged a solid beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

The stock is down 8.9% since reporting and currently trades at $551.68.

Read our full, actionable report on Cummins here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.