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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 first quarter fiscal 2021 net income of $69.5 million ($1.01 per diluted share), down from $75.7 million ($1.10 per diluted share) in fiscal 2020. Adjusted net income was $77.9 million ($1.13 per diluted share). Consolidated net sales fell by 7.0% to $1.58 billion, influenced by lower Access Equipment and Commercial segment sales. The Defense segment saw a 10.0% sales increase to $550.3 million. The company declared a quarterly dividend of $0.33 per share, payable on February 26, 2021.
Oshkosh Corporation (NYSE: OSK) will host its 2021 annual shareholders’ meeting virtually on February 2 at 8:00 a.m. CST. The meeting will include remarks from CEO Wilson Jones and COO John Pfeifer, accessible via webcast on the Oshkosh website. Oshkosh, based in Wisconsin, employs over 14,000 people and delivers mission-critical equipment in more than 150 countries. Their brands include JLG®, Pierce®, and Oshkosh® Defense. For more details, visit oshkoshcorp.com.
Oshkosh Corporation (NYSE:OSK) has completed the acquisition of Pratt Miller for a cash-free, debt-free purchase price of $115 million. This acquisition aims to enhance Oshkosh's capabilities in artificial intelligence, robotics, autonomous systems, and electrification, positioning it for future growth. Pratt Miller will retain its identity and continue its partnership with General Motors in motorsports. The acquisition is expected to provide immediate access to additional engineering expertise, enhancing product performance.
Oshkosh Corporation (NYSE: OSK) will announce its fiscal 2021 first quarter financial results on January 27, 2021, at 9:00 a.m. EST. Those interested can join a live webcast accessible via oshkoshcorp.com, with presentation slides available that morning. Oshkosh specializes in mission-critical vehicles and essential equipment, operating globally with over 14,000 employees and products under various brands in more than 150 countries.
Oshkosh Corporation (NYSE:OSK) has announced its acquisition of Pratt Miller for $115 million, a firm known for advanced engineering in motorsport and ground vehicle markets. Pratt Miller will retain its branding and operations. The deal combines Oshkosh’s operational strengths with Pratt Miller’s engineering expertise, aiming to enhance customer service and drive growth. The transaction is expected to close in the first quarter of 2021, pending regulatory approval.
Oshkosh Defense has secured a significant contract from the U.S. Army Contracting Command for 2,738 Joint Light Tactical Vehicles (JLTV), alongside 1,001 companion trailers. Valued at $911 million, this order represents the second largest for JLTVs, to be delivered to various branches of the U.S. military and select NATO allies. The JLTV is recognized for its versatility, incorporating advanced protection and mobility features, essential for modern combat scenarios. This commitment highlights Oshkosh's role as a leader in military vehicle production.
Oshkosh Corporation (NYSE: OSK) announced its participation in the Credit Suisse 8th Annual Virtual Industrials Conference, scheduled for December 2, 2020, at 11:30 a.m. EST. The event will be available via webcast, and interested participants are encouraged to access it through oshkoshcorp.com at least 15 minutes prior to the start. Oshkosh is dedicated to producing mission-critical vehicles and equipment that support communities worldwide, employing over 14,000 individuals across more than 150 countries.
Oshkosh Corporation (NYSE: OSK) announced the retirement of CEO Wilson R. Jones effective April 2, 2021, after over 15 years with the company. John C. Pfeifer, the current President and COO, will succeed him. Under Jones, the company experienced significant growth and fostered a 'People First' culture. Pfeifer is recognized for his leadership during key strategic initiatives and the pandemic response, bringing over 25 years of experience in management. The transition aims to sustain innovation and value creation for stakeholders.
Oshkosh Corporation (NYSE: OSK) reported Q4 fiscal 2020 net income of $100 million, or $1.46 per diluted share, down from $150 million, or $2.17 per share in Q4 fiscal 2019. Consolidated net sales decreased 18.7% to $1.78 billion, driven by a 39% decline in the Access Equipment segment due to COVID-19. Adjusted net income was $89.3 million, or $1.30 per diluted share. Despite challenges, the Defense segment saw a 6.4% sales increase. A quarterly cash dividend of $0.33 was declared, marking a 10% increase from the prior dividend.
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