Oshkosh Corp.’s Access Equipment segment, JLG Industries, posted $1,037.9 million in revenue for the fiscal third quarter of 2022, ended Sept. 30, compared to $845.2 million in the same period in fiscal 2021, a 22.8-percent increase. The Aerial Work Platforms segment reported $517.1 million in sales compared to $384.3 in the year-ago period, a 34.6-percent hike. Telehandlers increased from $237.8 million a year ago to $316 million, a 32.9-percent revenue gain.
The increase was the result of higher pricing in response to higher input costs and improved sales volume in North America.
Access Equipment segment operating in the fiscal third quarter increased 268.7 percent to $113.2 million, or 10.9 percent of sales, compared to $30.7 million or 3.6 percent of sales, for the same period a year ago.
For the first nine months of the year, Total Access Equipment net sales were $2,898.1 million compared to $2,508.4 million for the first nine months of 2021, a 15.5-percent increase. Net sales of aerial work platforms were $1,408.3 million compared to $1,193.4 million in the year-ago frame, an 18-percent sales gain. Net sales of telehandlers were $855.5 million compared to $646.5 million a year ago, a 32.3-percent leap.
“Our Access Equipment team delivered 23 percent year-over-year revenue growth and a more than 700 basis point operating margin improvement, culminating in a 10.9 percent operating income margin, or an 11.3 percent adjusted operating margin, for the quarter,” said John Pfeifer, Oshkosh Corp. president and CEO. “We continue to improve supply chain resiliency through a combination of dual and alternate sourcing actions as well as technical redesign of some components, which we expect will help us strengthen our performance.”
