Shares of Oshkosh Corporation (NYSE: OSK) plummeted 5.45% in pre-market trading on Wednesday following the release of its third-quarter financial results. The specialty vehicle manufacturer reported mixed performance, with earnings surpassing expectations but sales falling short of estimates and a reduction in full-year guidance.

For the third quarter, Oshkosh posted adjusted earnings per share of $3.20, beating the analyst consensus estimate of $3.07 by 4.13%. This represents a 9.22% increase from the $2.93 per share reported in the same period last year. However, the company's quarterly sales of $2.69 billion missed the analyst consensus estimate of $2.84 billion by 5.29%. More concerning for investors, this figure represents a 1.9% decrease compared to sales of $2.74 billion in the same quarter of the previous year.

Adding to the negative sentiment, Oshkosh revised its full-year outlook downward. The company now expects adjusted EPS of $10.50 to $11.00, down from its previous guidance, and projects sales between $10.3 billion and $10.4 billion, also lower than earlier forecasts. This reduction in guidance, coupled with the sales miss and year-over-year revenue decline, appears to be the primary driver behind the stock's pre-market plunge. Investors will likely be closely watching how the company plans to address the sales shortfall and return to growth in the coming quarters.