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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) has announced a strategic partnership and investment in Carnegie Foundry, a robotics and AI venture studio, to enhance innovation in autonomy and robotics. This collaboration builds on Carnegie Foundry's ties with the National Robotics Engineering Center at Carnegie Mellon University. The partnership is designed to benefit various frontline workers by improving autonomous technology, aiming to increase productivity and reduce costs.
Pierce Manufacturing Inc., a subsidiary of Oshkosh Corporation (NYSE:OSK), has acquired a significant ownership interest in Boise Mobile Equipment (BME). This strategic investment aims to enhance collaboration in the wildland fire market and transition BME to an independent dealer distribution model, particularly in the West Coast region. The partnership will offer improved service and support to BME's customers. BME has over thirty years of experience in manufacturing fire apparatus, and this collaboration is expected to improve product offerings and dealer support for fire and emergency professionals.
Oshkosh Corporation (OSK) reported a strong fiscal 2021 third quarter, with net income rising to $213.9 million ($3.07 per diluted share) from $80.2 million ($1.17) in the same period last year. This includes a $69.9 million tax benefit but also a restructuring charge of $1.4 million. Net sales increased 39.7% to $2.21 billion due to increased demand across all segments. Despite ongoing supply chain challenges, adjusted EPS guidance for fiscal 2021 was raised to $6.35-$6.50. Additionally, the company declared a quarterly cash dividend of $0.33 per share.
The U.S. Army Contracting Command has chosen Oshkosh Defense for the Concept Design Phase of the Optionally Manned Fighting Vehicle (OMFV) program, set to replace the 1981 Bradley Infantry Fighting Vehicle. Oshkosh will utilize Modeling, Simulation, and Analysis to inform OMFV requirements. The consortium includes partners like Pratt Miller and Hanwha Defense. Vice President Pat Williams emphasized the goal of delivering a modular OMFV solution to counter emerging threats. Oshkosh's design incorporates proven technologies from Hanwha's Redback chassis and Rafael's SAMSON turrets.
Oshkosh Corporation (NYSE: OSK) will release its third quarter fiscal 2021 financial results on July 29, 2021, with a live webcast at 9:00 a.m. ET to discuss the findings. Investors can access the webcast via oshkoshcorp.com, where slides will be available that morning. Oshkosh, based in Wisconsin, employs over 14,000 individuals globally and provides innovative equipment across more than 150 countries through renowned brands like JLG®, Pierce®, and Oshkosh® Defense.
Oshkosh Defense, a subsidiary of Oshkosh Corporation (NYSE: OSK), will establish a facility in Spartanburg, South Carolina, to manufacture the USPS Next Generation Delivery Vehicle (NGDV). This initiative is set to create over 1,000 jobs locally. The USPS awarded Oshkosh a multi-billion-dollar contract in February 2021, allowing the delivery of up to 165,000 vehicles over ten years. These vehicles will modernize an aging fleet, featuring both zero-emission battery electric and low-emission internal combustion engine models, with production starting in summer 2023.
Oshkosh Corporation (NYSE: OSK) has launched its Volterra™ electric vehicle platform, debuting two new trucks designed for the Fire & Emergency segment. This initiative marks a significant step in the company's ongoing electrification efforts, dating back to the mid-1990s. The first Pierce® Volterra zero-emissions fire truck is now in service with the City of Madison, Wisconsin, becoming North America's first electric fire apparatus. Oshkosh aims to meet the demands for environmentally responsible solutions without sacrificing performance and safety. The Striker® hybrid ARFF vehicle will also be showcased at U.S. airports.
Oshkosh Corporation has launched the Volterra platform of electric fire and emergency vehicles, starting with North America's first electric fire truck now operational in Madison, Wisconsin. The zero-emissions pumper is designed for enhanced performance and sustainability, featuring a powerful electric drivetrain, advanced safety features, and custom configuration options that meet fire department needs. The initiative aligns with global green initiatives and aims to reduce emissions while providing high operational functionality.
The U.S. Army Contracting Command has awarded Oshkosh Defense, a subsidiary of Oshkosh Corporation (NYSE: OSK), a contract worth $942.9 million to integrate a 30MM Medium Caliber Weapon System onto Stryker Double V Hull Infantry Carrier Vehicles. This upgrade aims to enhance the precision lethality capabilities of the Army’s Stryker Brigade Combat Team. The contract includes technical support and logistics for three Stryker Brigade Combat Teams and follows rigorous testing of systems at Aberdeen Test Center.
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