Latest news with #NextGenerationDeliveryVehicle
Business Wire
a day ago
- Business
- Business Wire
Oshkosh Corporation Renames Defense Segment to Transport Segment and Appoints Steve Nordlund as President
OSHKOSH, Wis.--(BUSINESS WIRE)--Oshkosh Corporation (NYSE: OSK), a leading innovator of purpose-built vehicles and equipment, today announced the renaming of its Defense segment to the Transport segment. The Transport segment will continue to deliver leading tactical wheeled vehicles and mobility solutions to defense customers. Additionally, it will focus on expanding into commercial markets, exemplified by Oshkosh's Next Generation Delivery Vehicle (NGDV) contract for the United States Postal Service (USPS). The Full Rate Production (FRP) milestone for the contract is expected later this year. Oshkosh Corporation has appointed Steve Nordlund as executive vice president and president of its Transport segment. Share In conjunction with this transition, Oshkosh Corporation has appointed Steve Nordlund as executive vice president and president of its Transport segment effective July 14. Nordlund brings over 25 years of leadership experience in the aerospace, defense and mobility industries, including senior roles at Boeing where he led the Air Dominance division and drove cutting-edge R&D initiatives supporting advanced military technologies. 'We're pleased to have an executive of Steve's experience and caliber join the Oshkosh team,' said John Pfeifer, president and CEO of Oshkosh Corporation. 'Steve brings a strong, people-focused leadership style and a proven ability to deliver growth and operational excellence through clear, strategic direction.' 'Oshkosh Corporation is an enduring and storied organization, and I am honored to be a part of such a remarkable team,' said Steve Nordlund. 'The business is well-positioned to deliver accelerated growth and margin expansion as we leverage our differentiated purpose, culture and capabilities.' For more information on Oshkosh Corporation please visit About Oshkosh Corporation At Oshkosh (NYSE: OSK), we make innovative, mission-critical equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs over 18,000 team members worldwide, all united behind a common purpose: to make a difference in people's lives. Oshkosh products can be found in more than 150 countries under the brands of JLG ®, Pierce ®, MAXIMETAL, Oshkosh ® S-Series™, Oshkosh ® Defense, McNeilus ®, IMT ®, Jerr-Dan ®, Frontline™ Communications, Oshkosh ® Airport Products, Oshkosh AeroTech™ and Pratt Miller. For more information, visit ®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies Forward Looking Statements This news release contains statements that the Company believes to be 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company's future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as 'may,' 'will,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'believe,' 'should,' 'project' or 'plan' or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions, and other factors, some of which are beyond the Company's control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include risks related to the Company's ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company's filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this news release. Investors should be aware that the Company may not update such information until the Company's next quarterly earnings conference call, if at all.
Yahoo
14-05-2025
- Business
- Yahoo
OSK Q1 Earnings Call: Tariff Headwinds and Segment Performance Shape Outlook
Specialty vehicles contractor Oshkosh (NYSE:OSK) missed Wall Street's revenue expectations in Q1 CY2025, with sales falling 9.1% year on year to $2.31 billion. Its non-GAAP profit of $1.92 per share was 5.9% below analysts' consensus estimates. Is now the time to buy OSK? Find out in our full research report (it's free). Revenue: $2.31 billion vs analyst estimates of $2.42 billion (9.1% year-on-year decline, 4.5% miss) Adjusted EPS: $1.92 vs analyst expectations of $2.04 (5.9% miss) Adjusted EBITDA: $245.4 million vs analyst estimates of $249.9 million (10.6% margin, 1.8% miss) Operating Margin: 7.6%, down from 10.2% in the same quarter last year Free Cash Flow was -$435.2 million compared to -$455.9 million in the same quarter last year Backlog: $14.55 billion at quarter end, down 11% year on year Market Capitalization: $6.45 billion Oshkosh's first quarter results were influenced by softness in the Access segment and ongoing strength in Vocational, while management highlighted that emerging tariff impacts have become a primary focus. CEO John Pfeifer pointed to resilient operational execution within Vocational and early ramp-up progress for the Next Generation Delivery Vehicle (NGDV) in Defense, while acknowledging Access faced volume headwinds. The company attributed the quarter's margin pressure to higher operating expenses and increased new product development spending, partially offset by improved pricing in Vocational. Looking ahead, management is prioritizing mitigation of newly announced tariffs, which they estimate could have up to a $1 per share impact for the year, mostly in the back half. Pfeifer emphasized, 'We are proactively working to mitigate potential impacts from tariffs,' and CFO Matt Field clarified that most of the burden will fall on the Access segment, with cost actions and supply chain adjustments planned to offset about half of the hit. Management maintained confidence in achieving full-year profit targets, excluding tariff impacts, and expects a stronger second half as Defense ramps NGDV production and Vocational investments continue to pay off. Oshkosh's leadership focused on the interplay between segment-specific performance and external pressures, especially tariffs. Management described how operational changes, supply chain shifts, and product introductions contributed to the quarter's results. Vocational Segment Momentum: The Vocational segment achieved notable year-over-year growth, driven by higher refuse and recycling vehicle sales, robust pricing, and improved manufacturing productivity. Management cited recent investments in production and a new dealer network as key contributors. Access Segment Resilience Amid Headwinds: Despite lower sales in Access, management reported resilient margins due to cost controls and pricing power. The segment continues to benefit from mega projects and infrastructure spending, with a stable backlog and no significant order cancellations observed. Tariffs and Supply Chain Mitigation: Newly announced tariffs are expected to impact primarily the Access segment. Management is implementing targeted mitigation through supply chain adjustments and negotiations, referencing prior success in localizing production in response to European tariffs. Defense Segment Ramp-Up: The Defense segment is progressing toward full-rate NGDV production for the United States Postal Service, with sequential margin improvement expected across the year. Orders from the U.S. Army and international customers, such as the Netherlands, support the longer-term outlook. Product and Technology Innovation: Oshkosh continues to introduce new products, including electric vehicles and integrated telematics solutions, and highlighted customer demand for advanced technologies in both fire and airport equipment. These initiatives are positioned as key differentiators supporting future growth. Management's outlook for the rest of the year centers on tariff mitigation, continued operational efficiency, and execution of key programs, particularly in Defense and Vocational segments. Tariff Impact and Mitigation: The company anticipates that tariffs will create a headwind—especially in Access—but is taking steps to offset about half of the projected impact through cost reductions and supply chain changes. Management acknowledged that most effects will be felt in the second half. NGDV Production Ramp: Oshkosh expects Defense revenue and margins to improve as NGDV production reaches full rate by year-end, which management believes will drive stronger second-half results. Vocational Investments and Backlog: Continued investment in Vocational manufacturing and expansion of the dealer network are expected to support ongoing revenue and margin growth. Management sees a robust backlog and healthy demand, especially in refuse and recycling. Stephen Volkmann (Jefferies): Asked if Oshkosh could fully offset tariff costs with price increases given softer demand; CEO John Pfeifer replied the company aims to minimize customer impact, using pricing as a last resort. Mig Dobre (Baird): Sought specifics on tariff cost exposures by segment; CFO Matt Field confirmed Access is most impacted, with mitigation efforts focused on sourcing and negotiation. Jamie Cook (Truist): Asked about the allocation of tariff costs and margin implications for Access; Field reiterated the majority of direct impact falls on Access, but cost offsets are company-wide. Kyle Menges (Citi): Questioned the drivers behind lower telehandler sales and the potential impact of lost contracts; Pfeifer noted some CAT contract effects but emphasized growing market share and confidence in long-term outlook. Chad Dillard (Bernstein): Probed the timeline and mix of cost versus price actions to mitigate tariffs; management explained that most mitigation will occur in the second half through both cost controls and selective pricing. In the coming quarters, the StockStory team will monitor (1) Oshkosh's effectiveness in offsetting tariff headwinds through supply chain and cost actions, (2) the pace and profitability of NGDV production ramp in the Defense segment, and (3) the durability of Vocational backlog and margin expansion as investments come online. Execution of new product introductions and the ability to maintain customer demand in Access amid external pressures will also be important indicators. Oshkosh currently trades at a forward P/E ratio of 9.3×. At this valuation, is it a buy or sell post earnings? Find out in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
Yahoo
31-01-2025
- Automotive
- Yahoo
What are the new mail delivery vehicles being used in Topeka?
TOPEKA (KSNT) – The next generation of mail delivery vehicles are rolling into Kansas this year and may be spotted in a neighborhood near you. The U.S. Postal Service (USPS) announced in October last year it would be modernizing its fleet of mail delivery vehicles with the arrival of the Next Generation Delivery Vehicle (NGDV). The new trucks are highlighted as being zero-emission and battery electric, providing for more environmentally-friendly deliveries nationwide. Tara Jarrett with the USPS told 27 News the agency has deployed more than 670 new delivery vehicles in Kansas. This includes eight of the NGDVs and 26 electric Ford E-Transits in the Topeka area alone. What new shops might move into West Ridge Mall in Topeka? USPS Postmaster General Louis DeJoy said these new electric vehicles will provide numerous benefits to the agency and its workers. He also said the addition of these new vehicles demonstrates that 'electrification and sustainability efforts can coexist' with each other. 'These new vehicles are enhancing safety for our employees, improving our capabilities to deliver on time and modernizing our operations,' DeJoy said. 'Our team deserves the best equipment as they work to serve 167 million addresses across the nation. The introduction of these new vehicles aligns with our operational strategy and financial health, setting us up for a future of improved service across the nation.' The USPS earlier announced plans in December 2022 that it would acquire more than 100,000 new vehicles, along with at least 66,000 battery-electric delivery vehicles. This is part of the Postal Service's 10-year Delivering for America Plan. Major I-70 work starts soon in Topeka, what to know For more local news, click here. Keep up with the latest breaking news in northeast Kansas by downloading our mobile app and by signing up for our news email alerts. Sign up for our Storm Track Weather app by clicking here. Follow Matthew Self on X (Twitter): Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
