OSHKOSH Business Summary

Oshkosh Corporation (OSK) operates a diversified industrial technology model, generating revenue through the design and manufacture of mission-critical specialty vehicles and equipment across three primary segments: Access, Vocational, and Transport. The Access segment, led by the JLG brand, contributes nearly half of total revenue through the sale and leasing of aerial work platforms and telehandlers. The Vocational segment focuses on purpose-built municipal and commercial vehicles, including Pierce fire apparatus, McNeilus refuse collection trucks, and AeroTech aviation ground support equipment. The Transport segment (formerly Defense) produces tactical military vehicles and the Next Generation Delivery Vehicle (NGDV) for the United States Postal Service. Positioned as a dominant market leader or top-tier peer in North America, Oshkosh competes directly with heavy machinery and defense giants such as PACCAR, Caterpillar Inc., Federal Signal Corporation, and Navistar, distinguishing itself through a high-density backlog and a strategic pivot toward electrification and autonomous vehicle integration. The company was founded in 1917 by William Besserdich and Bernhard Mosling, originally as the Wisconsin Duplex Auto Company. Today, the leadership team is headed by President and CEO John C. Pfeifer, who joined in 2019 after a 13-year tenure at Brunswick Corporation, where he led Mercury Marine. The executive suite includes EVP and CFO Matthew Field, formerly of Ford Motor Company, and EVP and Chief Technology and Strategic Sourcing Officer Jay Iyengar, who brings over 30 years of engineering pedigree from roles at Cummins and Xylem. Strategic oversight is provided by Board Chairman Keith J. Allman, the retired CEO of Masco Corporation. The company maintains a robust institutional investor base, with approximately 92% of shares held by major entities such as Pzena Investment Management, LSV Asset Management, and Norges Bank, reflecting strong market confidence in its long-term innovation roadmap.