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Oshkosh Corporation (NYSE:OSK) shares are trading higher after the company won a $231.9 million contract from the U.S. Army Contracting Command—Detroit Arsenal (ACC-DTA).
As per the deal, Oshkosh will manufacture new Heavy Expanded Mobility Tactical Truck (HEMTT) A4 tankers, cargos, wreckers, load handling systems (LHS), Common Bridge Transports (CBT), and Palletized Load System (PLS) A1s.
Also, Oshkosh will upgrade the PLS A1 fleet through recapitalization, modernizing the fleet, extending vehicle life, and cutting operating costs.
Notably, for decades, Oshkosh has partnered with the U.S. Army to recapitalize over 20,000 heavy tactical vehicles, restoring them to zero-miles, zero-hours condition with new vehicle warranties.
Pat Williams, chief programs officer at Oshkosh Defense, said, “Oshkosh is dedicated to our long-standing partnership with the U.S. Army to modernize the Oshkosh FHTV with new and enhanced capabilities through cost-effective and targeted upgrades. Room for growth as both threats and requirements evolve is key to these heavy platforms providing the payload, protection, and mobility to support our Warfighters in future combat environments.”
Last month, Oshkosh received a $27.3 million order from U.S. ACC-DTA for 57 Medium Equipment Trailers (MET).
As of March 31, the company had a defense backlog of $6.45 billion.
Investors can gain exposure to the stock via Procure Disaster Recovery Strategy ETF (NASDAQ:FIXT) and Burney U.S. Factor Rotation ETF (NASDAQ:BRNY).
Price Action: OSK shares are up 0.76% at $103.75 at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
