Access Equipment Revenue Increases 7.5 Percent in Fourth Quarter for JLG
JLG, the access equipment segment of Oshkosh Corp., posted a 38.1-percent increase in operating income to $62.4 million, or 7.5 percent of sales, in the fourth quarter of fiscal 2017, compared to $45.2 million or 5.8 percent of sales in the fourth quarter of fiscal 2016. Excluding charges related to an asset impairment and restructuring, adjusted operating income was $77.9 million or 9.3 percent of sales, compared to $73 million or 9.4 percent of sales in the year-ago quarter.
The increase of operating income was primarily the result of higher sales volume and favorable mix, offset in part by higher material costs and higher incentive compensation.
Total access equipment revenue for the fourth quarter of fiscal 2017 totaled $883.8 million compared to $775.8 million in the fourth quarter of fiscal 2016, a 7.5-percent leap. Aerial work platform sales totaled $443.4 million for the quarter compared to $411 million in the fourth quarter fiscal 2016, a 7.9-percent increase. Telehandler sales totaled $204 million compared to $180.0 million a year ago, a 12.8-percent hike.
For the full fiscal year, total access equipment revenue totaled $3,026.4 million in 2017, compared to $3,012.4 million in fiscal 2016, a slight increase. Aerial work platform sales totaled $1,629.6 million compared to $1,539.5 million a year ago, a 5.9-percent increase. Telehandler sales declined year over year from $773.9 million in fiscal 2016 to $661.8 million in fiscal 2017, a 14.5-percent slide.
Oshkosh Corp. as a whole posted $1,963 million in revenue for the fiscal fourth quarter ended Sept. 30, compared $1,744.3 million in the year-ago quarter, an 11.7-percent jump. For the full fiscal year, Oshkosh posted $6,829.6 million in revenue compared to $6,279.2 million in fiscal 2016, an 8.8-percent increase.
