JLG Q3 Revenue Slumps

August 3, 2015

JLG sales declined 10.3 percent to $932.6 million in revenue for Q3 2015, compared to the same period a year ago.

A slowdown in the order rate in North America was the primary driver of lower shipments along with delays in new product launches. The strengthening U.S. dollar also negatively impacted access equipment segment sales by $33.4 million.

Access equipment segment operating income declined 18.2 percent to $136.4 million, or 14.6 percent of sales, for the fiscal third quarter, primarily as a result of lower sales volume, as well as unfavorable currency impacts of $6.9 million and production inefficiencies related to challenges with several new product launches.

“Our access equipment segment sales fell short of our expectations for the third quarter, normally our seasonally best quarter, due to heavy rains in May disrupting construction projects across the southern U.S., cautious order patterns arising from uncertain rental market conditions, including the impact of lower oil and gas prices on rental demand for access equipment, and to a much lesser extent, delays with several new product launches,” said Oshkosh Corp. CEO Charles L. Szews.