Oshkosh Corp. reported $2.2 billion in sales for its fourth quarter, up 6.7 percent of the same period last year.
The access equipment segment, which includes the JLG brand, reported sales of $1.02 billion, down 4.2 percent to Q4 2018. The company attributed the decline to lower volume in the Europe, Middle East and Africa region.
The commercial segment, which includes IMT and McNeilus brands, reported sales for the quarter of $266 million, up 4.6 percent over Q4 2018. The company cited higher refuse collection vehicle sales volumes.
“We finished the year on a high note with strong fiscal fourth quarter earnings per share of $2.17, an increase of 20.6 percent over the prior year adjusted earnings per share and full year earnings per share of $8.21, or $8.31 on an adjusted basis, an increase of 30.5 percent and 30.7 percent, respectively,” said Wilson R. Jones, president/CEO, in a prepared statement. “Our strong fourth quarter performance was the result of commitment by our entire team. Our fire & emergency and defense segments both posted double digit percentage revenue and adjusted operating income growth compared with last year and our commercial segment delivered higher sales and operating income as well. Our access equipment team delivered strong results in the face of moderating demand in their key rental equipment markets.
“Looking ahead, I am confident in our team’s ability to navigate through changing market conditions in our access equipment segment and position Oshkosh Corporation to continue to deliver strong results. Our defense, fire & emergency and commercial segments provide a solid foundation for the Company in fiscal 2020. Our rental equipment customers in North America and Europe are taking a cautious approach to capital expenditures, which we believe will lead to lower, but still historically strong, sales and earnings in the access equipment segment in fiscal 2020.”