JLG Increases Sales 2.9 Percent in Oshkosh’s Fiscal Third Quarter

JLG, the access equipment segment of Oshkosh Corp., posted net sales of $980.2 million in the third quarter of fiscal 2017, ended June 30, a 2.9-percent increase over fiscal Q316. The increase was primarily because of higher aerial work platform sales, offset in part by lower telehandler sales.

 Access equipment segment operating income jumped 6.6 percent to $130.2 million or 13.3 percent of sales in the third quarter of fiscal 2017 compared to $122.1 million or 12.8 percent of sales in the year ago period.

Companywide for Oshkosh, fiscal third quarter net income was $128.6 million, or $1.69 per diluted share, compared to $84.2 million, or $1.13 per diluted share. Net income’s increase was 52.7 percent. Consolidated net sales were $2.04 billion, a 16.6-percent year-over-year increase.

“We delivered increased sales in all four segments, driving revenue growth of 16.6 percent and adjusted operating income growth of 51.6 percent,” said Wilson Jones, president and CEO of Oshkosh. “In particular, our access equipment and fire and emergency segments reported stronger than expected results in the quarter and all of our non-defense segments ended the period with higher year-over-year backlogs.”

Sales of aerial work platforms increased from $511.4 million in fiscal Q316 to $583.1 in fiscal Q317, a 14-percent increase. Telehandler sales, however, declined from $266.6 million in the year ago frame to $202.9 million this year, a 23.9-percent dip.

For the first nine months of the fiscal year, the increase in AWP sales was 5.1 percent to $1,186.2 million. The drop in telehandler sales for the nine-month period was 22.8 percent.

JLG is based in McConnellsburg, Pa.; Oshkosh Corp. is based in Oshkosh, Wis.