The access equipment segment of Oshkosh Corp., better known as JLG Industries, posted a sales decline of 26.1 percent to $529.8 million for the first quarter of fiscal 2016. The decline in sales was primarily because of the slowdown in North American replacement demand that began last summer and lower shipments of telehandlers in North America.
In the first quarter of fiscal 2015, JLG experienced a large increase in telehandler sales ahead of price increases related to Tier 4 engine emissions standards changes. A stronger U.S. dollar also negatively impacted access equipment sales in the current quarter by $12.6 million.
The segment’s operating income decreased 73.5 percent to $20.4 million for the quarter compared to $77.2 million in fiscal first quarter 2015.
