WASHINGTON - Oshkosh (NYSE:OSK) Defense, LLC, a subsidiary of Oshkosh Corporation (NYSE: OSK), is presenting its latest defense technologies at the Association of the United States Army's (AUSA) annual meeting this week. The company's exhibit includes the ROGUE-Fires unmanned ground vehicle and the Stryker (NYSE:SYK) Double V Hull integrated with the Oshkosh Defense 30mm Medium Caliber Weapon System (MCWS).
The ROGUE-Fires vehicle is designed to support Ground-Based Anti-Ship Missile (GBASM) operations with the capability to function in both teleoperated and fully autonomous modes. Its development follows a contract awarded by the Marine Corps Systems Command in October 2023 to begin low-rate initial production. "Our team is excited to demonstrate how this next-generation technology is transitioning into fielded systems," stated Pat Williams, Oshkosh Defense's chief programs officer.
Oshkosh Defense is also showcasing the MCWS, which provides enhanced firepower and precision for Stryker Brigade Combat Teams (SBCTs), now featuring integration with a Javelin anti-tank guided missile launcher. The system completed Follow-on Operational Test and Evaluation (FOT&E) in May 2024 and is expected to support fielding in early 2025. Williams highlighted the significance of soldier feedback in the development of the MCWS.
Oshkosh Defense leadership is present at the AUSA meeting to discuss their portfolio, which includes a range of vehicles and mobility systems. The company emphasizes its role in producing military vehicles, technology solutions, and mobility systems, maintaining a global presence in the design, production, and sustainment of military equipment.
The information presented is based on a press release statement from Oshkosh Defense. The company's forward-looking statements indicate plans for future operations but are subject to risks and uncertainties that could cause actual results to differ. Oshkosh Corporation, headquartered in Wisconsin, employs over 18,000 team members globally and operates under multiple brands, delivering products to over 150 countries.
In other recent news, 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. However, investment firm DA Davidson lowered its price target on Oshkosh's stock to $130 while maintaining a Buy rating.
In acquisition news, 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. The acquisition is expected to close in Q4 2024. Concurrently, Oshkosh announced plans to acquire AUSA, a European specialty equipment manufacturer.
Oshkosh Corporation has also secured significant contracts from the U.S. Army Contracting Command. The company obtained a $72.9 million contract for the Family of Medium Tactical Vehicles (FMTV) A2, marking its fourth order in 2024, and a substantial $1.54 billion contract for the Family of Heavy Tactical Vehicles program.
In other developments, Oshkosh Corporation has announced a significant follow-up order from Republic Services Inc (NYSE:RSG). for 100 McNeilus Volterra ZSL electric refuse and recycling collection vehicles. This new order builds on the initial acquisition of 50 vehicles in 2023 and underscores Republic Services’ dedication to fleet electrification and sustainability goals. These are among the recent developments involving Oshkosh Corporation and Gold Fields Limited.
InvestingPro Insights
Oshkosh Corporation's (NYSE: OSK) financial metrics and market performance provide additional context to its defense technology showcase at the AUSA annual meeting. According to InvestingPro data, the company's market capitalization stands at $6.77 billion, reflecting its significant presence in the defense and industrial vehicle sectors.
Oshkosh's financial health appears robust, with a revenue of $10.37 billion for the last twelve months as of Q2 2024, representing a strong growth of 15.82% over the same period. This growth aligns with the company's ongoing development and production of advanced defense technologies like the ROGUE-Fires vehicle and the Medium Caliber Weapon System.
The company's profitability is noteworthy, with an operating income margin of 10.23% and a gross profit margin of 18.7% for the same period. These figures suggest that Oshkosh is effectively managing costs while investing in innovative defense solutions.
InvestingPro Tips highlight that Oshkosh is trading at a low P/E ratio relative to its near-term earnings growth, with a current P/E ratio of 9.88. This could indicate that the stock is potentially undervalued, especially considering the company's strong position in the defense sector and its ongoing contracts with the U.S. military.
Additionally, Oshkosh has maintained dividend payments for 12 consecutive years and has raised its dividend for 11 consecutive years. This consistent dividend policy may appeal to investors looking for stable income alongside potential growth from defense contracts.
For readers interested in a more comprehensive analysis, InvestingPro offers 8 additional tips for Oshkosh Corporation, providing deeper insights into the company's financial position and market outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.