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.

Michael Roth

Aug. 3, 2017

2 min read

Strong sales of aerial work platforms more than offset slow sales of telehandlers in JLG39s fiscal third quarter and the first nine months of the fiscal year — Strong sales of aerial work platforms more than offset slow sales of telehandlers in JLG's fiscal third quarter and the first nine months of the fiscal year.

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.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.