JLG reports 13% rise in revenues

Telehandlers drive increase at powered access major as aerial work platforms contribute minor growth

Powered access major JLG has reported a 13% rise in total revenues for the first nine months of its fiscal year 2019, with the total standing at $3.06bn, helped mainly by a surge in telehandler sales.

JLG said it saw a 42.6% increase in telehandler sales, making up $947.9m of the total revenues by value. Aerial work platforms, meanwhile, only saw a small increase of just over 1% in sales at the company, to reach $1.46bn. Used equipment and replacement parts saw a rise of 10% to $649.9m.

JLG said overall operating profits were up 45% to $376.1m as sales increased in all regions worldwide except EAME. In the last quarter alone under consideration, net sales of access equipment rose 7.7% to $1.25bn. The company attributed the figures to increased sales volumes and higher pricing in response to increased material costs.

Operating income of JLG’s access equipment segment in the third quarter of fiscal 2019 rose by 27.2% to $189.9m, or 15.2% of sales, compared to $149.3m, or 12.9% of sales, in the same quarter of the last fiscal year. Among the factors that this increase was attributed to is favourable manufacturing efficiencies, improved price/cost dynamics and the absence of restructuring-related expenses. As of June 30, JLG’s access equipment backlog stood at $854.8m, a 30% lower figure year-on-year.

Wilson R Jones, president and CEO of Oshkosh Corporation, the owners of JLG, said: “Our strong fiscal third quarter performance resulted from increased sales in each of our business segments as well as double-digit growth in operating income in our access equipment and fire and emergency segments. I’m proud of the hard work and efforts of our team members as they continue to drive higher performance by executing our business strategy and initiatives.”

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