JLTV Interest Continues for Oshkosh Defense

By: Oshkosh Corporation via Business Wire

November 20, 2023 at 09:23 AM EST

The U.S. Army Contracting Command – Detroit Arsenal announced that it has awarded Oshkosh Defense a $160 million order for additional Oshkosh Joint Light Tactical Vehicles (JLTV) and associated packaged and installed kits.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231120905419/en/

Oshkosh Defense Joint Light Tactical Vehicles (JLTV) (Photo by Borut Podgoršek)

The order includes JLTVs for international allies including Mongolia, Romania, North Macedonia, Slovenia, and Slovakia.

The Oshkosh JLTV’s modular design and digital architecture allow it to accommodate more than 100 mission packages that incorporate weapons, lasers, sensors, networking, and communication.

“The Oshkosh Defense JLTV has consistently demonstrated its ability to fill critical capability gaps and we are honored by the continued interest from international allies,” said George Mansfield, vice president and general manager of defense programs at Oshkosh Defense. “As the sole OEM that can supply JLTVs through Direct Commercial Sales (DCS), Oshkosh will continue our support of NATO, Allied, and Coalition Forces that want to modernize their militaries with the JLTV’s battlefield-proven payload, performance, protection and network connectivity.”

Earlier in November, Oshkosh Defense received a $208 million order from the U.S. Army for additional JLTVs, JLTV trailers and associated kits.

About Oshkosh Defense

Oshkosh Defense is a global leader in the design, production and sustainment of best-in-class military vehicles, technology solutions and mobility systems. Oshkosh develops and applies emerging technologies that advance safety and mission success. Setting the industry standard for sustaining fleet readiness, Oshkosh ensures every solution is supported worldwide throughout its entire life cycle.

Oshkosh Defense, LLC is an Oshkosh Corporation company [NYSE: OSK].

Learn more about Oshkosh Defense at www.oshkoshdefense.com.

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 approximately 17,000 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®, Hinowa, Power Towers, Pierce®, MAXIMETAL, Oshkosh® Defense, McNeilus®, IMT®, Jerr-Dan®, Frontline™ Communications, Oshkosh® Airport Products, JBT AeroTech and Pratt Miller. For more information, visit www.oshkoshcorp.com.

®, ™ 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 the extent of supply chain and logistics disruptions; the Company’s ability to increase prices or impose surcharges to raise margins or to offset higher input costs, including increased raw material, labor, freight and overhead costs; the Company's ability to accurately predict future input costs associated with Defense contracts; the Company’s ability to attract and retain production labor in a timely manner; the strength of the U.S. dollar and its impact on Company exports, translation of foreign sales and the cost of purchased materials; the Company’s ability to predict the level and timing of orders for indefinite delivery/indefinite quantity contracts with the U.S. federal government; budget uncertainty for the U.S. federal government, including risks of future budget cuts, the impact of continuing resolution funding mechanisms and the potential for shutdowns; the impact of any U.S. Department of Defense solicitation for competition for future contracts; the impact of orders and costs on the U.S. Postal Service contract; the Company’s ability to comply with complex laws and regulations applicable to U.S. government contractors; cybersecurity risks and costs of defending against, mitigating and responding to data security threats and breaches impacting the Company; and 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231120905419/en/

Contacts

Alexandra Hittle, Director, Global Marketing and Communications

920-410-1929

ahittle@defense.oshkoshcorp.com

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