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Dec 31, 2020
Oshkosh Q1 2021 Earnings Report
Oshkosh reported solid start to fiscal year 2021 with sales and adjusted EPS exceeding expectations.
Key Takeaways
Oshkosh Corporation reported a decrease in net sales by 7.0 percent to $1.58 billion and a decrease in net income to $69.5 million, or $1.01 per diluted share, compared to the first quarter of fiscal 2020. Adjusted earnings per share were $1.13, exceeding expectations. The company also declared a quarterly cash dividend of $0.33 per share.
Net sales decreased 7.0% to $1.58 billion due to lower sales in Access Equipment and Commercial segments, offset by higher Defense and Fire & Emergency sales.
Net income was $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.
Adjusted net income was $77.9 million, or $1.13 per diluted share, excluding after-tax charges associated with restructuring and business acquisition costs.
Defense segment received a Joint Light Tactical Vehicle (JLTV) order for just over $900 million.
Oshkosh
Oshkosh
Oshkosh Revenue by Segment
Revenue by Segment
Access Equipment Revenue
CapyFin.comDefense Revenue
CapyFin.com Forward Guidance
Although we are not providing quantitative expectations with today’s announcement, we are seeing improvement in our end markets and believe that we are well positioned to grow revenues in the back half of fiscal 2021 and retain a positive long-term outlook
Revenue & Expenses
Visualization of income flow from segment revenue to net income