JLG Industries, the access segment of Oshkosh Corp., posted a 13.4-percent sales increase to $981.8 million for the second quarter of fiscal 2015. The improvement was basically the result of increased sales in all regions, except Latin America, on a constant currency basis. The effect of the strengthening U.S. dollar negatively impacted access equipment segment sales by $26.5 million.
On a constant currency basis, sales increased 16.4 percent. Access equipment operating income jumped 17.4 percent to $136.9 million, or 13.9 percent of sales for the quarter, compared to $116.6 million, or 13.5 percent of sales in the second quarter of fiscal 2014. The increase in operating income was, primarily, the result of higher sales volume and a favorable vendor recovery settlement, offset in part by an adverse product mix and unfavorable currency impacts of $3.3 million.
For Oshkosh Corp. as a whole, fiscal 2015 second quarter net income was $54.6 million compared to $71.5 million a year ago, a 23.6-percent decline. Results included after-tax costs of $9.3 million incurred in connection with the refinancing of the company’s senior notes due 2020. Excluding this item, adjusted net income was $63.9 million.
JLG Industries is headquartered in McConnellsburg, Pa.
