RERMAG

JLG Increases Sales to External Customers 44.3 Percent in Fiscal Third Quarter

JLG’s access equipment sales to external customers jumped 44.3 percent to $562.7 million for its fiscal third quarter, compared with the previous year’s third quarter, primarily as a result of demand for replacement equipment in North America. In addition to sales to external customers, access equipment segment sales in the third quarter included intersegment M-ATV-related sales to the defense segment of parent company Oshkosh Corp. totaling $17.4 million, compared with $316 million in the year-ago quarter, leading to an overall access equipment segment sales decrease of 18.4 percent year-over-year.

Access equipment segment operating income in the third quarter decreased 4.7 percent to $29.5 million.

Overall, Oshkosh Corp., which manufactures specialty vehicles and vehicle bodies, also covering defense, fire and emergency vehicles and more, totaled net sales of $2.02 billion and net income of $68.4 million or 75 cents per share, compared with net sales of $2.44 billion and net income of $211.2 million or $2.31 per share in the previous year’s fiscal third quarter.

“We are pleased with the progress we made on a number of fronts during our third fiscal quarter, particularly in our access equipment and defense segments,” said Charles Szews, Oshkosh Corp. president and CEO. “Access equipment sales to external customers grew 44 percent compared to the prior-year third quarter and operating income margins in this segment improved to 5.1 percent. We also made substantial progress on our FMTV contract, raising daily production by the end of the quarter to over 20 trucks and approximately 10 trailers, while working to lower our production costs.”

Oshkosh Corp. is based in Oshkosh, Wis. JLG Industries, its aerial equipment division, is based in McConnellsburg, Pa.

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