North America Telehandler Sales Pace JLG Fiscal First Quarter Increase
JLG Industries, the access equipment segment of Oshkosh Corp. increased revenue 7.2 percent to $716.7 million in its fiscal 2015 first quarter, largely as a result of an increase in telehandler unit volume in North America. Telehandler volume increased from $217.7 million in the fiscal first quarter of 2014 to $290.4 million, a 33.3-percent jump.
The hike was partially offset by a decline in aerial work platform sales from $316.5 million in the year-ago quarter to $277.3 million in the recently concluded frame, a 12.4-percent decrease.
The increase in North American telehandler sales was partly the result of shipments ahead of price increases related to Tier 4 engine emissions changes. Similarly, price increases related to Tier 4 engine emissions changes for aerial work platforms drove higher demand for those products in the first quarter of fiscal 2014. While North America provided for the majority of the increase in sales in the first quarter of fiscal 2015, the segment experienced higher volumes in all regions of the world except Latin America.
Oshkosh Corp. as a whole reported fiscal 2015 first quarter net income of $34.7 million compared to $54.9 million in the year-ago quarter, a 36.8-percent drop, primarily the result of decreased revenues from U.S. Department of Defense spending for tactical-wheeled vehicles. Still, the company’s performance in the first quarter exceeded expectations.
JLG Industries is based in McConnellsburg, Pa.
