JLG parent reports strong third quarter

OSHKOSH, Wis. — Oshkosh Corp. recently reported third quarter net income of $128.6 million, or $1.69 per diluted share, compared to $84.2 million, or $1.13 per diluted share, for the same period of fiscal 2016.

Oshkosh companies design and build specialty trucks, truck bodies and access equipment. Oshkosh is the parent company of JLG Industries Inc., a designer, manufacturer and marketer of access equipment with headquarters in McConnellsburg, Pa.

The company’s board of directors declared a quarterly cash dividend of 21 cents per share of common stock, payable Sept. 1 to shareholders of record as of Aug. 18.

“As a result of our strong performance and positive outlook for the remainder of fiscal 2017, we are increasing our expectations for fiscal 2017 (diluted) earnings per share to be in a range from $3.33 to $3.43,” Wilson R. Jones, Oshkosh president and chief executive officer, said in a news release. “We look forward to delivering strong fiscal 2017 performance and believe we are well positioned for fiscal 2018, as evidenced by our strong backlogs, positive sentiment in our markets and the strength of our people.”

The company reported increased sales in all aspects of its business.

• Access equipment: Net sales increased 2.9 percent to $980.2 million in the third quarter of fiscal 2017. The increase was primarily due to higher aerial work platform sales, offset in part by lower telehandler sales. Operating income increased 6.6 percent to $130.2 million.

• Defense: Net sales increased 82.6 percent to $482.7 million. Operating income increased 226.7 percent to $62.4 million.

• Fire and emergency: Net sales increased 13.8 percent to $282.9 million. Operating income increased 56.3 percent to $30.8 million.

• Commercial: Net sales increased 2.5 percent to $295.2 million. Operating income fell 9.2 percent to $21.6 million.