JLG’s Access Sales the High Point for Oshkosh in Fiscal 2014

JLG Industries, the access equipment division of Oshkosh Corp., posted $932.7 million in sales in the fourth quarter of fiscal 2014, a 19.5-percent year-over-year increase. The improvement was principally the result of the continued recovery of the global access equipment market, offset in part by the absence of U.S. military telehandler sales under a contract that was completed in the fourth quarter of fiscal 2013. Sales of access equipment excluding military telehandler sales increased 22.4 percent in the fourth quarter of fiscal 2014.

Access equipment segment operating income jumped 56.9 percent to $127.4 million, or 13.7 percent of sales, compared to $81.2 million or 10.4 percent of sales, in the fourth quarter of fiscal 2013. The increase in adjusted operating income was primarily the result of higher sales volume and the favorable impact of cost-reduction initiatives, offset in part by increased new product development spending and higher operating costs.

For Oshkosh Corp. as a whole, net sales in the fiscal fourth quarter were $1.67 billion, a 3.4-percent drop, because of expected lower defense segment sales.

For the full fiscal year, the access segment posted $3,506.5 million in net sales, compared to $3,120.7 million in fiscal 2013, a 12.4-percent hike.

JLG Industries is based in McConnellsburg, Pa. Parent company Oshkosh Corp. is based in Oshkosh, Wis.