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OSHKOSH, Wis.--([ BUSINESS WIRE ])--Oshkosh Corporation (NYSE: OSK), a leading manufacturer of specialty vehicles and vehicle bodies, today announced that it is targeting to double earnings per share from an expected $2.05 - $2.15¹ in fiscal 2012 to $4.00 - $4.50 in fiscal 2015, yielding a compound annual growth rate of 23% to 30%.

"Our MOVE strategy focuses our resources on what we believe are the key drivers that create shareholder value. We are already delivering positive results as we enter the early stages of recovery from a deep cycle"

At the Companyas Analyst Day being held today, the Oshkosh management team will discuss its business segments and expand on its financial and operational outlook, including a review of the Companyas roadmap for achieving its fiscal 2015 EPS target through the continued execution of its MOVE strategy. Independent of volume, Oshkosh expects to deliver a 250 basis point improvement in operating income margin², generate $350 million in incremental sales³ from innovation and grow international sales to more than 25% of overall sales by fiscal 2015.

aOur MOVE strategy focuses our resources on what we believe are the key drivers that create shareholder value. We are already delivering positive results as we enter the early stages of recovery from a deep cycle,a said Charles L. Szews, Oshkosh Corporation chief executive officer. aThrough the first nine months of fiscal 2012, we reported better-than-expected earnings and raised our full year fiscal 2012 financial outlook twice during the year. Looking to fiscal 2015, we expect our continued execution of MOVE will yield even stronger results by driving higher incremental margins and improved cash flows through better execution and cost management, prudent capital allocation and accessible global growth. Our Board of Directors and management team are highly confident in our plans and opportunity to achieve our operational and financial targets to create a powerful, global industrial company, double EPS by fiscal 2015 and deliver outstanding value for all Oshkosh shareholders.a

The Oshkosh 2012 Analyst Day presentation and webcast replay will be available on the Investor Relations page of Oshkoshas website, at [ http://investor.oshkoshcorporation.com ].

About Oshkosh Corporation

Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corporation manufactures, distributes and services products under the brands of Oshkosh, JLG, Pierce,McNeilus, Jerr-Dan, Oshkosh Specialty Vehicles, Frontline^a", CON-E-CO, London and IMT. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to [ www.oshkoshcorporation.com ]. ^{, TM} All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

Non-GAAP Reconciliation

The table below presents a reconciliation of the Companyas presented non-GAAP measures to the most directly comparable GAAP measures:

Forward-Looking Statements

This press release contains statements that the Company believes to be aforward-looking statementsa within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Companyas future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as amay,a awill,a aexpect,a aintend,a aestimate,a aanticipate,a abelieve,a ashould,a aprojecta or aplana or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Companyas control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the cyclical nature of the Companyas access equipment, commercial and fire & emergency markets, especially in the current environment where there are conflicting signs regarding the future global economic outlook; the expected level and timing of the U.S. Department of Defense (DoD) procurement of products and services and funding thereof; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; risks that profit on the definitization of contracts with the DoD could differ from the Companyas estimates; increasing commodity and other raw material costs, particularly in a sustained economic recovery; the ability to increase prices to raise margins or offset higher input costs; risks related to the Companyas exit from its ambulance and European mobile medical businesses, including the amounts of related costs and charges; risks related to facilities consolidation and alignment, including the amounts of related costs and charges and that anticipated cost savings may not be achieved; the Companyas ability to produce vehicles under the FMTV contract at targeted margins; the duration of the ongoing global economic weakness, which could lead to additional impairment charges related to many of the Companyas intangible assets and/or a slower recovery in the Companyas cyclical businesses than Company or equity market expectations; the potential for the U.S. government to competitively bid the Companyas Army and Marine Corps contracts; the consequences of financial leverage, which could limit the Companyas ability to pursue various opportunities; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; the cost of any warranty campaigns related to the Companyas products; risks related to production or shipment delays arising from quality or production issues; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; risks related to actions of activist shareholders; and the Companyas ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Companyas filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this press release. Investors should be aware that the Company may not update such information until the Companyas next quarterly earnings conference call, if at all.

¹ The Companyas expected earnings per share for fiscal 2012 exclude the impact of costs to exit the Companyas ambulance and European mobile medical businesses and, therefore, is a non-GAAP financial measure, and the related compound annual growth rate is based on this non-GAAP financial measure. A reconciliation of this non-GAAP financial measure to the most comparable GAAP measure and presentation of the compound annual growth rate based on the GAAP measure appear below under the caption aNon-GAAP Reconciliationa in this press release.

² Improvement in operating income margin compared to fiscal 2011

³ Increase in sales compared to fiscal 2012