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OSHKOSH ™ OSHKOSH CORPORATION FOR IMMEDIATE RELEASE For more information , contact : Financial : Patrick Davidson Senior Vice President , Investor Relations 920.502.3266 Media : Bryan Brandt Senior Vice President , Chief Marketing Officer 920.502.3670 Exhibit 99.1 OSHKOSH CORPORATION REPORTS FISCAL 2021 FIRST QUARTER RESULTS Solid Start to the Fiscal Year Declares Quarterly Cash Dividend of $ 0.33 Per Share OSHKOSH , WI - ( January 27 , 2021 ) - Oshkosh Corporation ( NYSE : OSK ) , a leading innovator of mission - critical vehicles and essential equipment , today reported fiscal 2021 first quarter net income of $ 69.5 million , or $ 1.01 per diluted share , compared to $ 75.7 million , or $ 1.10 per diluted share , in the first quarter of fiscal 2020. Results for the first quarter of fiscal 2021 included after - tax charges of $ 7.8 million , or $ 0.11 per diluted share , associated with restructuring actions in the Access Equipment segment and $ 0.6 million , or $ 0.01 per diluted share , associated with business acquisition costs in the Defense segment . Excluding these charges , fiscal 2021 first quarter adjusted 1 net income was $ 77.9 million , or $ 1.13 per diluted share . Comparisons in this news release are to the corresponding period of the prior year , unless otherwise noted . Consolidated net sales in the first quarter of fiscal 2021 decreased 7.0 percent to $ 1.58 billion as a result of a decrease in sales in the Access Equipment and Commercial segments , offset in part by higher Defense and Fire & Emergency segment sales . Consolidated operating income in the first quarter of fiscal 2021 decreased 12.1 percent to $ 95.9 million , or 6.1 percent of sales , compared to $ 109.1 million , or 6.4 percent of sales , in the first quarter of fiscal 2020. The decrease was primarily due to the impact of lower consolidated sales volume , adverse absorption as a result of lower production and restructuring - related charges in the Access Equipment segment , offset in part by lower spending as a result of the COVID - 19 pandemic , larger cumulative catch - up adjustments in the Defense segment and favorable product mix . Excluding $ 8.0 million of pre - tax charges related to restructuring actions and $ 0.7 million of pre - tax business acquisition costs , adjusted 1 operating income in the first quarter of fiscal 2021 was $ 104.6 million , or 6.6 percent of sales . " We are pleased to announce fiscal first quarter sales of $ 1.6 billion and adjusted earnings per share of $ 1.13 , both of which exceeded our expectations , " said Wilson R. Jones , chief executive officer of Oshkosh Corporation . " Several of our key manufacturing sites are located in areas of the United States that suffered from very high rates of COVID - 19 spread in the Fall of 2020. This caused high levels of absenteeism and brought challenges for many of our supply chain partners . In response , Oshkosh team members demonstrated strong execution by successfully controlling costs , managing our operations and delivering impressive results .