JLG Sales Up 15% in First Fiscal Quarter of 2014 | Construction News

In Oshkosh Corp.'s fiscal first quarter 2014 report, sales in its access equipment segment, which includes JLG, were up 15% to $668.6 million for the quarter. According to the company, the improvement was primarily the result of a demand for replacement aerial work platforms in North America and Europe and favorable pricing. It was offset in part by the absence of U.S. military telehandler sales under a contract that was completed in the fourth quarter of fiscal 2013.

Sales of access equipment, excluding U.S. military contract sales, rose 17.2% in the first quarter compared to the prior year quarter. The increase in aerial work platform unit volumes in North America was due in part to the acceleration of some orders ahead of Tier 4 engine price increases.

In the first quarter of fiscal 2014, access equipment segment operating income increased 84.6% to $90.3 million, or 13.5% of sales, compared to prior year first quarter operating income of $48.9 million, or 8.4% of sales. The increase in operating income was primarily the result of favorable product mix due to a higher concentration of aerial work platform sales, higher sales volume, and the realization of previously announced price increases. Results in the current year quarter also benefited by $7.5 million as a result of reaching an agreement on the final pricing of a multi-year U.S. military contract.