JLG Parent Reports Quarterly Sales of Access Equipment Up 16%

With strong sales of aerial lifts used in commercial construction, Oshkosh Corp. reported a sharply higher quarterly profit and raised its full-year forecast.

The parent company of JLG Industries reported a fiscal third-quarter profit of $148.4 million, or $1.67 a share, up from $77.1 million, or 84 cents, a year earlier.

Sales were up 2.1% to $2.2 billion.

On average, analysts expected the company to report a profit of $1.08 a share on sales of $2.1 billion, according to Reuters estimates.

Oshkosh said sales of telehandlers, scissor lifts and aerial platforms were up 15.6% in the quarter.

The company said the sales increase was driven by demand from builders and leasing companies.

For more about Oshkosh's fiscal third quarter results...