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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.
Oshkosh Corporation (NYSE: OSK) reported a fiscal 2022 Q1 net loss of $2.1 million ($0.03 per diluted share), down from a net income of $99.6 million ($1.44 per diluted share) in Q1 2021. Consolidated sales increased 3% to $1.95 billion, while operating income dropped 79.2% to $29.3 million due to rising material and logistics costs. The company reduced its fiscal 2022 EPS outlook to $4.75-$5.75, citing inflation and supply chain disruptions. A cash dividend of $0.37 per share was declared, payable on May 27, 2022.
Oshkosh Corporation (NYSE: OSK) has announced a strategic partnership and investment in Robotic Research, aiming to enhance innovation in autonomous mobility and driver assistance systems. This collaboration builds on their previous work since 2017 with the U.S. Department of Defense. Both companies anticipate that this initiative will benefit various essential services, including military and emergency responders. Oshkosh’s investment follows Robotic Research’s $228 million funding round, which marks a significant milestone in its two-decade history.
Sarcos Technology and Robotics Corporation (NASDAQ: STRC, STRCW) has completed its acquisition of RE2, Inc. for $100 million, comprising $30 million in cash and 14 million shares of Sarcos stock, resulting in approximately 5.7% dilution for existing shareholders. The acquisition aims to enhance Sarcos' robotics capabilities across various industries, including aviation and medical sectors, while gaining RE2's existing contracts and products. This merger is expected to expand Sarcos' addressable market and improve worker safety and productivity.
Oshkosh Corporation (NYSE: OSK) will release its first quarter 2022 financial results on April 27, 2022, at 9:00 a.m. ET. Investors can join the discussion via a live webcast accessed through their investor relations website. As a leader in mission-critical vehicles, Oshkosh aims to help communities globally with its innovative products, employing around 15,000 team members worldwide. The company's wide-ranging brands serve customers in over 150 countries.
Oshkosh Corporation (NYSE: OSK) will host its Investor Day on May 6, 2022, at 10 a.m. ET. Key executives, including CEO John Pfeifer, will discuss the company's growth strategy, technology leadership, sustainability efforts, and financial targets. The event is accessible both in-person and virtually, with a live webcast available via the Investor Relations website. A replay will also be provided post-event. Oshkosh, headquartered in Wisconsin, specializes in mission-critical vehicles and equipment, employing around 15,000 globally.
The U.S. Postal Service has placed its first order of Next Generation Delivery Vehicles (NGDV) with Oshkosh Defense, a subsidiary of Oshkosh Corporation (NYSE: OSK). This initial order consists of 50,000 NGDVs with a total value of $2.98 billion. The order will include at least 10,019 zero-emission battery electric vehicles (BEVs). Production will take place in Spartanburg, South Carolina, with preparations already underway, and hiring has commenced. This contract allows flexibility to increase BEV production proportionally as funding becomes available.
McNeilus Truck and Manufacturing, a subsidiary of Oshkosh Corporation (NYSE: OSK), has been awarded the Constructech Top Product award for its FLEX Controls™ system, marking its sixth consecutive win. This award recognizes exceptional technology in the construction industry. The FLEX Controls system enhances efficiency and user experience in concrete mixer trucks, offering features that reduce operational costs by up to 5%. The award highlights McNeilus's commitment to innovation and customer involvement in product development.
McNeilus Truck and Manufacturing, part of Oshkosh Corporation (NYSE:OSK), has acquired the CartSeeker™ curbside automation product from Eagle Vision Systems and Waterloo Controls. This acquisition enhances McNeilus' focus on refuse collection vehicle automation, aligning with its innovation strategy. The patented AI-based technology automates waste cart identification and truck operations, potentially improving efficiency and performance in refuse collection.
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