Oshkosh access equipment sales jump 15.1%

News Story
- 31 Jan 2013 ( #601 ) - Oshkosh, WI, United States
1 min read
Oshkosh Corp sales of access equipment to external customers increased by 15.1% to USD581.2 million for the first quarter ended 31 December versus the comparable prior year period.

Oshkosh attributes the increase to higher telehandler volumes in North America, realisation of price increases and improved aftermarket sales. Aerial work platforms accounted for USD252.2 million of the sales, and sales of telehandlers for USD206.9 million.

Including intersegment sales, access equipment segment sales decreased by 7.4% from the prior year, when the segment produced USD122.6 million worth of components for MRAP all-terrain vehicles for the company's defense segment.

Operating income for the access equipment segment more than tripled to USD48.9 million or 8.4% of sales compared to prior year first quarter operating income of USD13.1 million or 2.1% of sales.

As of 31 December, the value of the access equipment segment's backlog was USD767.1 million.

JLG is the segment's primary brand.

Company-wide for the first quarter, Oshkosh reports profit of USD46.2 million on sales of USD1.76 billion versus profit of USD39.3 million on sales of USD1.88 billion year on year. The recent quarter's result includes pre-tax costs of USD16.3 million incurred in connection with Carl Icahn's tender offer for the company's common stock and Icahn's threatened proxy contest.

During the quarter, Oshkosh repurchased 4,250,072 shares of its common stock at an aggregate cost of USD125.1 million. The company intends to spend an additional USD175 million to repurchase shares over the next nine to 15 months.
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Previously about:
Access sales higher for Oshkosh News Story - 1 May 2014 - Oshkosh, WI, United States - 1 min read
Private investors buy into Oshkosh News Story - 22 Aug 2013 - Oshkosh, WI, United States - 1 min read
Briefs News Story - 20 Dec 2012 - 1 min read
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