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Oshkosh Corporation - OSK STOCK NEWS

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Oshkosh Corporation (symbol: OSK) is a renowned manufacturer and marketer specializing in access equipment, specialty vehicles, and truck bodies serving primary markets such as defense, concrete placement, refuse hauling, access equipment, and fire & emergency services. The company's leading brands include Oshkosh, JLG, Pierce, McNeilus, IMT, Jerr-Dan, CON-E-CO, and London, each a leader in their respective industries.

Founded over a century ago, Oshkosh has built a solid reputation as a top producer of access equipment and specialty vehicles. JLG is celebrated for its diverse product portfolio, including JLG® aerial work platforms and SkyTrak® and Lull® telehandlers. The Pierce® brand positions Oshkosh as North America's foremost fire truck manufacturer. The company's defense vehicles are widely utilized, making it a global leader in this category.

Oshkosh's McNeilus® concrete mixers are the preferred choice among concrete producers, and its refuse collection bodies dominate the market. Jerr-Dan, another significant brand, is a top name in towing and recovery equipment. Additionally, CON-E-CO is a leading U.S. manufacturer of concrete batch plants, while London is Canada's preeminent concrete mixer manufacturer.

In recent years, Oshkosh has focused on innovation and sustainability, as seen in its US Postal Service contract to electrify postal vehicles. Despite losing the JLTV recompete for the U.S. Department of Defense, the company remains a pivotal player in the defense segment, accounting for 22% of its revenue. The access equipment segment contributes 52% of revenue, while the vocational segment, covering concrete mixers and refuse collection bodies, accounts for 27%.

Oshkosh's financial performance has been robust, generating $9.6 billion in revenue in 2023. The company continues to pursue strategic partnerships and projects that enhance its market position and meet evolving customer needs.

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Oshkosh Defense, a subsidiary of Oshkosh (NYSE: OSK), has secured orders worth $231.9 million from the U.S. Army Contracting Command – Detroit Arsenal for modernized heavy tactical vehicles. The orders include the production of HEMTT A4 tankers, cargos, wreckers, load handling systems, Common Bridge Transports, and Palletized Load System A1s. Oshkosh will also integrate advanced capabilities into the PLS A1 fleet through recapitalization, extending vehicle life and reducing operating costs. Oshkosh Defense has produced over 50,000 heavy tactical vehicles for the U.S. Military and allies, emphasizing reliability and versatility.

Pat Williams, chief programs officer at Oshkosh Defense, highlighted the importance of the company’s long-standing partnership with the U.S. Army, focusing on modernizing fleet capabilities to support future combat environments. Oshkosh’s commitment to providing durable and flexible heavy tactical vehicles is evident in its continued collaboration with the U.S. Army.

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Oshkosh (NYSE: OSK) has published its 11th annual sustainability report, showcasing its commitment to innovation and sustainable practices. The company has introduced several electrified products across various sectors, including construction, fire and emergency, airport ground support, and defense. Key highlights include the McNeilus® Volterra™ ZSL™ zero-emission recycling vehicle, the Pierce® Volterra™ zero-emission fire truck, and the Oshkosh® Striker® Volterra™ ARFF vehicle.

In 2023, Oshkosh manufactured and sold 46,152 electric or hybrid units, reduced GHG emissions by 14.5%, diverted 87.8% of waste from landfills, and recycled or reused 86.1% of non-hazardous waste. The company also contributed $2.6 million and 21,320 volunteer hours to local communities. Recognized for its ethical and sustainable practices, Oshkosh has been listed on the Dow Jones Sustainability World Index and other notable accolades.

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Oshkosh Defense, an Oshkosh business, has received a $27.3 million order from the U.S. Army Contracting Command – Detroit Arsenal for 57 Medium Equipment Trailers (MET). The MET trailers are designed to transport combat vehicles up to 60 tons and meet European Highway Road Network Accessibility requirements for payloads up to 45 tons. The six-axle drop deck trailer can navigate under four-meter overpasses and features a hydraulically adjustable suspension. This order, executed with partner Broshuis B.V., falls under a five-year Indefinite Delivery/Indefinite Quantity (IDIQ) production contract awarded in November 2023. The MET trailers will be used to transport Bradley Fighting Vehicles, Armored Multi-Purpose Vehicles, Paladins, and Field Artillery Ammunition Support Vehicles.

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Oshkosh (NYSE: OSK) announced a leadership transition with Michael Pack, current CFO, appointed as President of the Vocational segment. Pack succeeds Jim Johnson, who is retiring effective June 30, 2024. A search for a new CFO is underway. Pack has been with Oshkosh for 18 years and has played significant roles in the Fire & Emergency and Commercial segments. CEO John Pfeifer expressed confidence in Pack's ability to lead the Vocational segment, highlighting strong momentum, demand, and innovative product pipelines such as the Volterra electric vehicles.

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Oshkosh Defense, a division of Oshkosh (NYSE: OSK), has announced a $108.9 million order from the U.S. Army for additional Family of Medium Tactical Vehicles A2 (FMTV A2) and trailers. This order supports both U.S. Army modernization initiatives and Foreign Military Sales to international partners. The FMTV A2 boasts improved armor protection, enhanced drivetrain, and upgraded suspension systems, offering increased payload capacity and mobility. This partnership underscores Oshkosh Defense's commitment to providing advanced tactical vehicles to U.S. and allied forces globally.

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Oshkosh (NYSE: OSK) will be participating in Deutsche Bank’s 15th Annual Global Industrials, Materials & Building Products Conference. This event is scheduled for June 5, 2024, at 2:00 p.m. EDT and will include a fireside chat. The event will be webcast, accessible via the company's website. Oshkosh is known for its innovative, mission-critical equipment used globally, and employs approximately 17,000 people. The company operates under various brands such as JLG®, Pierce®, and Oshkosh® Defense, and serves over 150 countries.

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Oshkosh (NYSE: OSK) will showcase its latest electrified vehicles at the 2024 ACT Expo in Las Vegas from May 20-23. The company will feature the Next Generation Delivery Vehicle (NGDV) for the USPS and the McNeilus® Volterra™ ZSL™, North America's first fully integrated electric refuse and recycling collection vehicle. The NGDV emphasizes innovation and reliability, while the Volterra ZSL™ focuses on ergonomics and cost efficiency. Oshkosh will also display a high voltage power distribution unit developed by its Pratt Miller business unit, designed to enhance EV system safety and efficiency. Oshkosh aims to lead in electrifying commercial fleet vehicles, enhancing sustainability and performance.

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Oshkosh , a leading provider of mission-critical vehicles and equipment, announced the acquisition of AUSA, a manufacturer of wheeled dumpers and forklifts. The acquisition will expand Oshkosh's product portfolio and market reach, strengthening the partnership with JLG. AUSA's high-quality products will complement JLG's offerings, enhancing the Access segment's equipment portfolio. The acquisition aligns with Oshkosh's growth strategy, with AUSA reporting sales of approximately $132 million euros in 2023. The transaction is expected to close within 90 days.

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Oshkosh Defense, a business of Oshkosh (NYSE: OSK), was awarded a $40 million contract for ROGUE-Fires. The unmanned ground vehicle is designed for the U.S. Marine Corps and leverages advanced vehicle technologies to support anti-ship missile operations. This award highlights Oshkosh's commitment to providing cutting-edge warfighting capabilities to the military.
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Oshkosh reported strong financial results for the first quarter of 2024, with diluted earnings per share of $2.71, up 102%, and adjusted earnings per share of $2.89, up 77%. Sales increased by 12% to $2.54 billion, driven by the AeroTech acquisition. The company raised its 2024 sales and earnings expectations and declared a quarterly cash dividend of $0.46 per share.
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FAQ

What does Oshkosh Corporation do?

Oshkosh Corporation manufactures and markets access equipment, specialty vehicles, and truck bodies, serving markets like defense, concrete placement, refuse hauling, and fire & emergency.

What are some of Oshkosh's major brands?

Oshkosh's major brands include Oshkosh, JLG, Pierce, McNeilus, IMT, Jerr-Dan, CON-E-CO, and London.

Which segment of Oshkosh generates the most revenue?

The access equipment segment generates the most revenue, contributing 52% of the total.

What recent projects is Oshkosh involved in?

Oshkosh is involved in the US Postal Service contract to electrify postal vehicles and continues to innovate in its defense and vocational segments.

How did Oshkosh perform financially in 2023?

Oshkosh generated $9.6 billion in revenue in 2023.

Who uses Oshkosh's products?

Oshkosh's products are used by customers in defense, concrete placement, refuse hauling, access equipment, and fire & emergency services.

What differentiates JLG products?

JLG is known for its diverse product portfolio, including JLG® aerial work platforms and SkyTrak® and Lull® telehandlers.

Why is Oshkosh a significant player in the defense market?

Oshkosh is a global leader in manufacturing defense vehicles, although it recently lost the JLTV recompete.

What is a key focus area for Oshkosh's future projects?

A key focus area is the electrification of postal vehicles as part of the US Postal Service contract.

What are some leading products under the McNeilus brand?

McNeilus is known for its concrete mixers and refuse collection bodies, leading the market in both categories.

Oshkosh Corporation

NYSE:OSK

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7.07B
65.40M
0.74%
92.75%
1.96%
Heavy Duty Truck Manufacturing
Manufacturing
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United States of America
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