Oshkosh, parent of JLG, IMT, McNeilus and other brands, posted 2022 sales of $8.282 billion, up 4 percent from the $7.952 billion reported in 2021. Operating income for the year dropped from $535 million in 2021 to $372 million.
The company also announced the formation of a new Vocational segment, combining its Fire & Emergency segment and Commercial segment businesses. The new segment will be focused on designing, developing, and manufacturing purpose-built vocational vehicles. The Vocational segment will be led by current Fire & Emergency segment president Jim Johnson. With this change, Oshkosh Corporation's businesses will be aligned in three segments: Access, Defense and Vocational.
Access equipment sales, which includes JLG work platforms and telehandlers, totalled $3.972 billion in 2022, up 18 percent from $3.342 billion in 2021. Sales of concrete mixers were $419 million in 2022, up from $385 million in 2021.
“Oshkosh Corporation team members delivered a strong close to fiscal 2022 with robust sequential and year over year revenue and operating income growth during the fourth quarter,” stated John C. Pfeifer, Oshkosh Corporation president and chief executive officer. “Strong market fundamentals and elevated demand for our products drove high order rates in the [fourth] quarter and a record backlog of more than $14 billion,” said John C. Pfeifer, president/CEO, in a prepared statement. “We expect that robust demand will continue to support strong revenue and earnings growth in fiscal 2023 and beyond. While we continued to experience unfavorable supply chain dynamics and inflation impacts, our teams took appropriate actions to minimize and mitigate these challenges.
“Based on strong demand that is supported by over $14 billion in backlog, we are pleased to announce fiscal 2023 expectations for revenue in the range of $8.4 billion and earnings per share in the range of $5.50, representing strong growth compared to fiscal 2022. Our ranges reflect expectations for ongoing supply chain constraints with modest improvements expected during fiscal 2023.”
Rear-discharge mixers sold
Separately, Right Lane Industries announced that it had acquired the rear discharge mixer business of McNeilus, which includes all rear discharge mixer operations including the Bridgemaster brand. It does not include the McNeilus refuse line or its front discharge mixer lines.
Source: Oshkosh
