Access Equipment Sales Drop in Fiscal Q2 for Oshkosh Corp.

JLG Industries, the access division of Oshkosh Corp., had a net sales decrease of 4.1 percent in Oshkosh’s fiscal second quarter, with $723.2 million in sales. The decline in sales was primarily because of lower telehandler sales volumes in North America and Europe as well as a more competitive pricing environment, offset in part by higher sales of used equipment and service.

Access equipment segment operating income decreased 44.4 percent to $42.1 million, or 5.8 percent of sales, in the second quarter of fiscal 2017, compared to $75.7 million or 10 percent of sales in the same period a year ago. Excluding restructuring-related charges, access equipment segment adjusted operating income in the quarter was $59.3 million. The decline in operating income was primarily the result of a more competitive pricing environment, along with higher expenses, including trade show costs.

For Oshkosh Corp. overall, consolidated net sales in the second quarter were $1.62 billion, a 6.2-percent increase. A significant jump in sales in the defense segment was partially offset by the drop in the access equipment and commercial segments.