OSHKOSH, Wis. - Oshkosh (NYSE:OSK) Defense, LLC, a part of Oshkosh Corporation (NYSE: OSK), has secured a $72.9 million contract from the U.S. Army Contracting Command – Detroit Arsenal (ACC-DTA) for additional Family of Medium Tactical Vehicles (FMTV) A2. This marks the company's fourth FMTV A2 order in 2024, demonstrating the U.S. Army's continued trust in Oshkosh's vehicle solutions.
The FMTV A2 series is recognized for its adaptability, versatility, and reliability, catering to the Army's diverse operational and logistical needs across various terrains. Pat Williams, chief programs officer at Oshkosh Defense, expressed the company's commitment to supporting the Army's modernization initiatives and enhancing soldier safety and effectiveness with these advanced tactical vehicles.
To date, Oshkosh has received orders totaling 2,677 FMTV A2 vehicles, reflecting the Army's confidence in the company's proven reliability and innovative vehicle design. Oshkosh Defense is preparing for the initial fielding of these vehicles in Q4 2024.
Oshkosh Defense is globally recognized for designing, producing, and sustaining top-tier military vehicles and mobility systems. The company is known for setting industry standards in fleet readiness and life cycle support.
The information in this article is based on a press release statement. The forward-looking statements in the press release are subject to various risks and uncertainties, and actual results could differ materially from those projected. The statements reflect the company's expectations as of the date of the press release and are not guarantees of future performance.
In other recent news, Oshkosh Defense, a subsidiary of Oshkosh Corporation, secured a substantial $1.54 billion contract from the U.S. Army Contracting Command. This contract, part of the Family of Heavy Tactical Vehicles program, will continue to supply the U.S. military with heavy tactical vehicles and associated trailers through 2031. Meanwhile, Gold Fields (NYSE:GFI) Limited has agreed to acquire all outstanding shares of Osisko Mining Inc. in an all-cash transaction valued at approximately C$2.16 billion, with the acquisition expected to close in Q4 2024.
On the financial front, Oshkosh Corporation reported an 18% increase in revenue and a 36% rise in adjusted operating income for the second quarter of 2024. The company also revised its full-year adjusted earnings per share forecast upward to $11.75. In addition to these developments, Oshkosh announced plans to acquire AUSA, a European specialty equipment manufacturer.
Investment firm DA Davidson, while maintaining a Buy rating, lowered its price target on Oshkosh's stock to $130. These developments highlight the recent activities in the business landscape of Oshkosh Corporation and Gold Fields Limited.
InvestingPro Insights
Amidst the recent contract win for Oshkosh Defense, the company's financial health and market performance provide a broader context for investors. Oshkosh Corporation (NYSE: OSK) currently boasts a market capitalization of $6.35 billion, which underscores its substantial presence in the industry. The company's commitment to shareholder returns is evident in its consistent dividend history, having raised its dividend for 11 consecutive years, a sign of financial stability and confidence in long-term profitability.
InvestingPro data reveals that Oshkosh is trading at a relatively low Price-to-Earnings (P/E) ratio of 9.35, which suggests that the company's shares might be undervalued compared to its near-term earnings growth. Additionally, the Price/Earnings to Growth (PEG) ratio for the last twelve months as of Q2 2024 stands at an attractive 0.14, indicating that the stock may be a compelling choice for value investors seeking growth at a reasonable price.
With 11 analysts having revised their earnings estimates upwards for the upcoming period, there is an optimistic outlook for the company's financial performance. This, coupled with a robust revenue growth of 15.82% over the last twelve months as of Q2 2024, paints a picture of a company that is not only growing its top line but also managing to do so at an accelerating pace.
For more detailed analysis and additional InvestingPro Tips, investors can explore the full list of insights on the InvestingPro platform, which includes a total of 10 tips for Oshkosh Corporation at https://www.investing.com/pro/OSK.
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