Oshkosh Corp. sees lower sales, income due to coronavirus
The coronavirus pandemic decreased sales and income for Oshkosh Corp., but the company overall remains in a strong financial position, according to the manufacturer’s fourth quarter and 2020 annual results.
For the fiscal fourth quarter, Oshkosh, which makes defense vehicles, fire and emergency vehicles, commercial vehicles and access equipment, reported a net income of $100 million, compared to $150 million during the same period last year. Consolidated net sales in the fourth quarter of fiscal 2020 decreased 18.7 percent to $1.78 billion largely as a result of a 39 percent decrease in sales in Oshkosh’s access equipment segment as the COVID-19 pandemic continued to impact demand for construction-related equipment.
For fiscal 2020, Oshkosh posted net sales of $6.86 billion and a net income of $324.5 million compared to $8.38 billion and $579.4 million in fiscal 2019.
“As demonstrated by our solid performance in the fiscal fourth quarter, Oshkosh team members continued to work hard and delivered strong results in the face of adversity and global uncertainty caused by the COVID-19 pandemic,” Oshkosh Corp. CEO Wilson R. Jones said in a statement. “We responded to changing markets across the globe by taking swift actions to control costs and deliver value to our customers across numerous essential businesses.”
The reduction in net incomes for fiscal 2020 compared to fiscal 2019 was the result of the impact of lower consolidated sales volumes due in large part to the COVID-19 pandemic, an adverse product mix, adverse absorption as a result of lower production and higher favorable cumulative contract adjustments in fiscal 2019.
The company did not release an outlook for fiscal 2021, but Jones said “we are staying close to our customers and will respond to opportunities that arise. We are confident in the long-term potential of our end markets and will continue to rely on our People First culture as we persevere through the current environment.”
Bay Port High School receives technical education award
UA 400 Pipe Trades, the Mechanical Contractors Association and Miller Electric recognized Bay Port High School with the Excellence in Technical Education Award.
The award is presented to a high school in Northeast Wisconsin for its commitment to technical education and participation in the UA 400 Youth Apprenticeship program. The group plans to honor more high schools in 2021, with each school receiving a Miller Wire Feed Welder courtesy of Miller Electric.
Award recipients demonstrate effective approaches to stimulating student learning with more classes, offering challenging work-based learning experiences, and increasing student postsecondary and career prospects. Bay Port High School has six students in the UA 400 Youth Apprenticeship program.
“Developing a partnership with the UA 400 Pipe Trades and their Youth Apprenticeship program has opened the doors for our students to receive work-based education from the very best contractors and educators at the very best facilities to teach these trades,” said Adam Cochart, welding instructor at Bay Port High School.
The UA 400 Youth Apprenticeship is a program designed to allow students entering or in their senior year of high school to get an early start on a career path in the pipe trades. The program provides classroom and on-the-job training in pipefitting, plumbing, pipe fabrication and HVAC/R service.
The 15-month Youth Apprenticeship program introduces students to the core skills necessary to be productive
and succeed in the workplace and offers the opportunity for hands-on learning from UA certified instructors. Contractors also gain insight into the quality and reliability of students in the program, making this a low-risk highly attractive method for recruitment and employment.
WEDC offers grant program providing export assistance
The Wisconsin Economic Development Corp. is offering its International Market Access Grants program for 2020-2021.
The COVID-19 pandemic has delayed international plans for many businesses, but companies may complete other strategic projects that could strengthen business now and position themselves for future international growth.
Through WEDC’s IMAG program, established businesses can receive grant support (up to $10,000, or up to $25,000 for ExporTech program graduates) to assist with expenses related to:
• Market customization such as foreign language translation or international trademark registration
• Consulting services through a variety of organizations, including WEDC’s authorized trade representatives and Gold Key services through the U.S. Department of Commerce, as well as others
• Export education assistance with registration for international and export-related conferences, seminars, meetings, webinars and courses
• Trade trips and meetings, including registration and booth expenses for shows and exhibits
To be eligible, a company must be an established business, operating in Wisconsin for at least one year. It also must manufacture, process, assemble and/or distribute a product or perform a service with the potential to be exported. The company does not need to be headquartered in Wisconsin; however, it must have export-related operations located within the state that provide economic benefit.
To learn more, visit wedc.org/programs-and-resources/global-business-development-program.
Carnivore Meat Co. expands partnership with distributor
Carnivore Meat Co. announced an expanded partnership with pet food and supplies distributor Animal Supply Co.
As part of the expansion, Animal Supply Co. will market, sell and support Carnivore brands Vital Essentials and Vital Cat out of its Bartlett, Ill., distribution center to more than 7,000 independent retailers that operate 15,000 retail outlets throughout the United States and the Caribbean.
“Our growing partnership with Animal Supply Co. will ensure dog and cat owners across the country have access to the highest quality raw pet food and treats available,” said Carnivore Meat Co. National Sales Manager Joey Weichmann.
Animal Supply Co. will offer independent pet retailers the full line of Vital Essentials and Vital Cat freeze-dried treats, toppers, food as well as the VE RAW BAR.
New North Summit slated for March at Lambeau Field
With the New North Summit planned for March 11 at the Lambeau Field Atrium in Green Bay, it only seems fitting that Green Bay Packers President and CEO Mark Murphy kick off the event.
The summit is geared toward business executives and education, nonprofit and government leaders from around the region and state. Networking begins at 7:30 a.m. followed by the program’s start at 8 a.m. The summit runs through 4 p.m.
The summit’s keynote speaker is Tim Moore, who will reflect on the resiliency of our region during the pandemic, along with speaking to the power of social impact and equality and offering inspirational messages around resiliency.
Moore is the CEO of Diamond View Studios, based in Tampa, Fla. He is a three-time Emmy Award-winning director who connects with his audiences through emotion-driven stories, dynamic visuals and compelling audio. Moore has collaborated with some of the world’s most admired brands, including Gatorade, Hyatt and USAA.
The event will also include presentations from Murphy and four regional leaders. To go along with the summit’s theme of “Playbook for Recovery: The Rules of the Game Have Changed,” the speakers will describe their year’s activities relating to offense, defense and special teams.
Kim Bassett of Bassett Mechanical will do the offense presentation, which describes a company expanding; Dr. Imran A. Andrabi of ThedaCare will do the defense presentation representing an industry that has been challenged by COVID-19; and Michelle Schuler of Microsoft and Joe Kirgues of gener8tor will focus on special teams as they discuss the gener8tor upskilling initiative, which provides knowledge, skills and access to jobs for those who have been significantly impacted due to the pandemic.
The New North Summit will also feature pitches from winners of local and regional entrepreneurial pitch contests, which are taking place in November and December of this year. Rounding out the agenda will be updates on projects and initiatives from across the region, along with presentations from the NEW Manufacturing Alliance and Right Management, which will present its annual Workplace Excellence Award.
Online registration is available at newnorthsummit.com. The early registration fee is $75 until Jan. 15, with the entry fee increasing to $90 on Jan. 16 and $100 at the door on the day of the event.
WMEP sustainability group plans December conference
People are now living and working in ways never before imagined. COVID-19 has disrupted the world — business models, supply chains, workforces and the resilience of businesses.
The challenges of 2020 have created an increased awareness that systems may need review and modification. Sustainability can be the catalyst to achieving economic recovery while making a positive impact on people and the planet.
The Wisconsin Sustainable Business Council’s 2020 virtual conference, to be held Dec. 8 and 9 from 11 a.m. to 5 p.m., will explore how the business community must evolve to get the people-planet-profit-prosperity model right. Leveraging these circumstances can help businesses pivot into a sustainable future.
Bringing regional sustainability leaders together, the event will explore how businesses have been adjusting their models to manage current events. Through four tracks, the conference will offer the case for sustainability at this moment in time, how companies can better take care of their people today, and how businesses can become better influencers to drive sustainable change within organizations.
Day one will offer a leadership focus with tracks dedicated to profit and people, and day two will offer a professional focus with tracks on persuasion and planet.
To learn more or register, visit wisconsinsustainabilty.com/2020-conference.