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.
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