Oshkosh Corporation (OSK, Financial) is a manufacturer of light construction equipment and specialty vehiclesfor defense and municipal customers. The company reported an earnings shortfall as supply chain issues led to lost shipments in its Access Equipment segment (a subsidiary called JLG which makes scissor lifts and telehandlers). Rising raw material costs also hampered profitability. Management expects this to persist for the next two or three quarters although the company plans to raise prices to o set much of the headwind. Backlog in all segments continues to look promising so we view this as a short-term issue that should not derail a healthy multi-year outlook in both its Access Equipment and Defense segments.
From Keeley Mid Cap Dividend Value Fund's third-quarter 2021 commentary.
