Terex, Oshkosh report increase in sales in 2Q

News Story
- 3 Aug 2023 ( #1139 ) - Norwalk, CT, United States
2 min read
Terex makes Genie telehandlers
Terex makes Genie telehandlers

North American materials handling equipment makers Terex and Oshkosh have both reported an increase in sales in the second quarter.

On the back of their strong financial results, both companies increased their full year outlooks.

Terex

Terex posted sales of USD1.4 billion in the second quarter, a 30% increase on the same period a year earlier.

The company, which makes Genie telehandlers and ZenRobotics picking and sorting robots, said the increase in net sales was primarily driven by healthy demand for its products across multiple businesses and all major geographies, as well prices rises to mitigate rising costs. 

Terex chief executive officer John L. Garrison, Jr. said: “The Terex team delivered another quarter of outstanding performance.

“We successfully overcame supply chain challenges to deliver a 30% increase in sales over the prior year.”

Garrison increased the company’s sales outlook for the full year to USD5.1 billion, up from the previous estimate of between USD4.8 billion and USD5 billion.

He noted that Terex was seeing “growing evidence of onshoring in North America manufacturing and an increased focus by global players to achieve their sustainability goals”.

Oshkosh

Oshkosh makes JLG telehandlers
Oshkosh makes JLG telehandlers

Oshkosh Corporation attributed a 16.8% increase in sales to USD2.41 billion in the second quarter to higher sales volume, primarily in the Access segment, and improved pricing.

The company, which makes JLG and Skytrack telehandlers, reported net income of USD175 million in the second quarter, up from USD32.1 million in the same period a year earlier.

Oshkosh president and chief executive John Pfeifer the company’s Access and Vocational segments both delivered double-digit operating margins as supply chains improved but not to historical norms. 

“Our results demonstrate that our actions over the past several quarters to redesign, resource and dual source components as well as implement numerous operational improvements are enhancing our resiliency in a constrained supply chain environment,” Pfeifer said.

“Demand remains strong across the board for our industry-leading products and services, highlighted by robust orders in the quarter. We ended the quarter with a consolidated backlog of USD15 billion, which provides solid visibility well into 2024.”

Pfeifer said the acquisition of AeroTech business from JBT Corporation was completed in the second quarter, which was expected to drive growth in airport services in its Oshkosh’s Vocational segment.

“As a result of our strong second quarter performance and ongoing improvements in our operations and supply chains as well as our positive outlook for the remainder of 2023, we are increasing our expectations for 2023 earnings per share to be in a range of USD7.65 and 2023 adjusted earnings per share to be in a range of USD8.00,” Pfeifer said.

“We look forward to continuing our momentum through the rest of the year and believe we are well positioned for 2024 and beyond, given our strong backlog, leading technologies, positive market sentiment and the strength of our people.”

Jungheinrich records ‘resilient’ results
Jungheinrich records ‘resilient’ results 16 Aug 2024 - Hamburg, Germany - 1 min read
KION narrows revenue forecast
KION narrows revenue forecast 8 Aug 2024 - Frankfurt, Germany - 1 min read
Kalmar makes stock market debut
Kalmar makes stock market debut 4 Jul 2024 - Helsinki, Finland, Finland - 1 min read
Previously about:
American Yale dealership switches to Linde News Story - 9 May 2024 - Charlotte, NC, United States - 1 min read
JLG unveils new SkyTrak models News Story - 29 Jun 2023 - McConnellsburg, PA, United States - 1 min read
Movers & Shakers News Story - 10 Nov 2022 - 1 min read
OshKosh completes Ausa acquisition News Story - 12 Sep 2024 - OshKosh, WI, United States - 1 min read
Oshkosh to acquire Spain’s Ausa News Story - 16 May 2024 - Oshkosh, WI, United States - 1 min read
Oshkosh invests in Eatron News Story - 14 Mar 2024 - Oshkosh, WI, United States - 1 min read
Movers & Shakers News Story - 28 Nov 2024 - 1 min read
Movers & Shakers News Story - 7 Mar 2024 - 3 min read
Terex posts strong 2023 results News Story - 15 Feb 2024 - Norwalk, CT, United States - 1 min read
Do you have materials handling news? Submit your news here

PREMIUM business

VETTER Industrie GmbH
The world's most comprehensive range of forks and the most intelligent sensor fork for more safety and efficiency.

This April, Forkliftaction will publish an in-depth feature report on the latest innovations in materials handling attachment design.

Do you have expertise in this field? 
Feature contribution is a unique opportunity to share your knowledge in a widely read and respected editorial report. 

Contributor sign-up ENDS FEBRUARY 20thcontact us today to secure your participation!

Words of support …

After advertising with Forkliftaction.com, we got many enquiries regarding interest to be our distributor. Mostly from Europe and USA but including a few in ASEAN. We feel that the advertisement was useful and good for market expansion.

Lawrence Xu, Assistant Sales Manager - Resonac Asia Pacific Pte Ltd.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

This April, Forkliftaction will publish an in-depth feature report on the latest innovations in materials handling attachment design.

Do you have expertise in this field? 
Feature contribution is a unique opportunity to share your knowledge in a widely read and respected editorial report. 

Contributor sign-up ENDS FEBRUARY 20thcontact us today to secure your participation!

Showcased in the Virtual Expo

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

This April, Forkliftaction will publish an in-depth feature report on the latest innovations in materials handling attachment design.

Do you have expertise in this field? 
Feature contribution is a unique opportunity to share your knowledge in a widely read and respected editorial report. 

Contributor sign-up ENDS FEBRUARY 20thcontact us today to secure your participation!