OSHKOSH, Wis. - Oshkosh Corporation (NYSE: NYSE:OSK), a prominent player in the manufacturing of specialized vehicles and equipment, announced on Tuesday the appointment of William (Bill) Burns to its Board of Directors. Burns, the CEO of Zebra Technologies Corporation (NASDAQ: ZBRA), brings over three decades of technology industry experience to the Oshkosh board.
Burns has a history of leadership roles, including his current position as CEO of Zebra Technologies, a company specializing in enterprise asset intelligence. His career includes key positions such as chief product and solutions officer and senior vice president of enterprise visibility and mobility at Zebra Technologies, as well as CEO of Embrane, Inc. and Spirent Communications plc (LSE: SPT).
Stephen D. Newlin, chairman of the board of Oshkosh, expressed enthusiasm for the addition of Burns, citing his growth-oriented leadership and the value of his technology and innovation insights in support of Oshkosh's strategic priorities.
With this new appointment effective as of Monday, Oshkosh's Board of Directors expands to 11 members. Burns holds an MBA from Temple University, a Bachelor of Science in business administration from Misericordia University, and an associate degree in engineering from Pennsylvania State University. He also serves on the board of Zebra Technologies and has held board positions at Spirent Communications and Embrane.
Oshkosh Corporation, headquartered in Wisconsin, employs around 17,000 people globally and operates under a variety of brands, including JLG®, Pierce®, and Oshkosh® Defense, with products distributed in over 150 countries.
The information for this article is based on a press release statement from Oshkosh Corporation.
In other recent news, Oshkosh Corporation has seen significant developments on several fronts. The company's Board of Directors welcomed a new member, William J. Burns, expanding its size from ten to eleven. Burns, the current CEO of Zebra Technologies Corporation, brings over three decades of technology sector experience to the board.
Citi has initiated coverage on Oshkosh's shares with a Buy rating, highlighting potential for earnings momentum in the Vocational and Defense segments. The Defense segment secured a $27.3 million order from the U.S. Army for Medium Equipment Trailers, and a $108.9 million contract for additional Family of Medium Tactical Vehicles A2 and trailers. On the other hand, the Vocational segment announced the appointment of Michael Pack as its new president.
In addition, BofA Securities and Baird have both increased their price targets for Oshkosh's shares. Despite a forecast of slight declines in the Access segment's sales, the growth in the Vocational and Defense segments is expected to offset these dips. Lastly, Oshkosh announced an agreement to acquire AUSACORP S.L., a manufacturer of construction and material handling vehicles, expected to expand its product range within the Access segment. These are the recent developments shaping the trajectory of Oshkosh Corporation.
InvestingPro Insights
Oshkosh Corporation (NYSE: OSK) has recently made a strategic addition to its Board of Directors, aiming to enhance its growth trajectory and capitalize on technological advancements. In light of this development, key financial metrics and InvestingPro Tips offer insights into the company's current market standing and future prospects.
As of the last twelve months leading into Q1 2024, Oshkosh boasts a robust revenue growth of 15.45%, underlining its ability to expand its market reach and financial strength. This performance is complemented by an impressive EBITDA growth of nearly 96%, signaling operational efficiency and a strong command over earnings before interest, taxes, depreciation, and amortization.
The company's commitment to shareholder returns is evidenced by its dividend track record, with an InvestingPro Tip highlighting that Oshkosh has raised its dividend for 11 consecutive years and maintained dividend payments for 12 consecutive years. This consistency reflects a stable financial policy and the management's confidence in the company's cash-generating capabilities.
InvestingPro Tips also point to Oshkosh trading at a low earnings multiple, with a P/E Ratio (Adjusted) of 9.85, suggesting that the company's stock could be undervalued relative to its earnings. This, coupled with a moderate Price / Book ratio of 1.84, may indicate a potential investment opportunity for value-oriented investors.
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