Oshkosh reports increased defense sales

By Marjorie Censer / April 29, 2020 at 9:10 AM

Oshkosh said today sales in its defense segment during the most recent quarter reached $615 million, up 26% from the same three-month period a year earlier.

The company attributed the growth to "the continued ramp up of Joint Light Tactical Vehicle program sales to the U.S. government."

The defense unit reported quarterly profit of $58 million, up nearly 12% from the prior year.

In Oshkosh's earnings announcement, CEO Wilson Jones said the company has a large backlog in its defense and fire and emergency units, "providing good visibility for these businesses well into fiscal 2021."

"Despite excellent visibility in these two segments, we are facing uncertain demand in the access equipment and commercial segments as well as potential disruptions with supply chain continuity and team member availability in all of our segments," Jones said of how the coronavirus crisis is affecting Oshkosh.

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