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Jlg Sky Trak 3013 2020 (1)

Oshkosh Corp.’s Access Segment Drops 21.5 Percent in Fiscal First Quarter

Feb. 22, 2021
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.

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.