Oshkosh Corp.’s Access Segment Drops 21.5 Percent in Fiscal First Quarter
Consolidated net sales in the fiscal first quarter for Oshkosh Corp. decreased 7 percent to $1.58 billion as a result of a drop in sales in the Access Equipment and Commercial segments. These decreases were partially offset by higher Defense and Fire & Emergency segment sales.
Total Access Segment sales in the fiscal first quarter of 2021 were $563.7 million compared to $717.9 in the fiscal first quarter of 2020, a 21.5-percent decline. Oshkosh attributes the drop to lower market demand resulting from the economic downturn caused by COVID-19. Telehandler sales slid from $201.4 million a year ago to $122.9 million, a 39-percent decrease. Sales of aerial work platforms declined from $306 million in fiscal Q120 to $278 million in fiscal Q121, a far less severe 9.2 percent.
“While the timing of recovery in our Access Equipment segment remains difficult to predict, we are confident in the strength and resilience of our businesses as we continue to adapt and pivot during the pandemic,” said CEO Wilson Jones. “Although we are not providing quantitative expectations with today’s announcement, we are seeing improvement in our end markets and believe that we are well-positioned to grow revenues in the back half of fiscal 2021 and retain a positive long-term outlook.”
Oshkosh Corp. is based in Oshkosh, Wis. JLG Industries, the primary portion of the Access segment is based in McConnellsburg, Pa.
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.