OSHKOSH, Wis. - Oshkosh (NYSE:OSK) Defense, LLC, a subsidiary of Oshkosh Corporation (NYSE:OSK), has secured a $108.9 million contract from the U.S. Army for additional Family of Medium Tactical Vehicles A2 (FMTV A2) and trailers. The order supports the Army’s modernization initiatives and includes vehicles for Foreign Military Sales to international partners.
The FMTV A2 series is reputed for its flexibility and dependability, designed to fulfill a broad spectrum of missions and carry various payloads. Notable improvements in the A2 variant include enhanced armor protection, as well as upgraded drivetrain and suspension systems, which contribute to its increased payload capacity and overall mobility.
Pat Williams, Oshkosh Defense’s chief programs officer, expressed the company’s commitment to providing advanced tactical wheeled vehicles to support the modernization efforts of the U.S. Army. Williams also highlighted the importance of extending these capabilities to allied nations globally.
Oshkosh Defense is recognized for its expertise in designing, manufacturing, and maintaining military vehicles and technology solutions. The company is known for setting industry benchmarks in fleet readiness and for offering comprehensive support for their products throughout their lifecycle.
The corporation, headquartered in Wisconsin, employs around 17,000 people worldwide and is committed to producing mission-critical equipment. Oshkosh's diverse product portfolio is available in over 150 countries under various brand names.
This news is based on a press release statement from Oshkosh Defense. The forward-looking statements within the release are subject to various risks and uncertainties, and actual results may differ materially from those projected. The company has stated it has no obligation to update any forward-looking statements until its next quarterly earnings conference call, if at all.
InvestingPro Insights
Oshkosh Corporation (NYSE:OSK) continues to demonstrate its robust position in the defense sector with the new U.S. Army contract. Aligning with the company's growth, InvestingPro data reflects a positive financial outlook. The company's market capitalization stands at a solid $7.45 billion, and with a Price/Earnings (P/E) ratio of 10.42 for the last twelve months as of Q1 2024, Oshkosh shows a promising valuation compared to industry peers. Furthermore, the company's revenue growth of 15.45% over the same period indicates a strong upward trajectory in financial performance.
Two key InvestingPro Tips highlight Oshkosh's commitment to shareholder returns and its financial health. With a history of raising its dividend for 11 consecutive years and maintaining dividend payments for 12 consecutive years, Oshkosh exhibits a strong and consistent financial policy that is attractive to long-term investors. Additionally, the company's moderate level of debt and analysts' positive earnings revisions for the upcoming period suggest confidence in Oshkosh's future profitability and financial stability.
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