Oshkosh’s Q2 net income reached $128.5 million compared to $110.8 million in Q2 2018. Consolidated net sales in Q2 increased 5.5 percent to $1.99 billion due to higher access equipment and additional segment sales. Consolidated operating income in Q2 increased 12.3 percent to $175.6 million, or 8.8 percent of sales, compared to $156.4 million, or 8.3 percent of sales, in 2018. This increase was the result of improved access equipment segment results.
Access equipment, including JLG machines like aerial work platforms and telehandlers, net sales in Q2 increased 6.4 percent to $987.6 million. The increase in sales was due to increased sales volume and higher pricing in response to higher material costs. Access equipment operating income increased 22.7 percent to $119.8 million, or 12.1 percent sales, compared to $97.6 million, or 10.5 percent sales in 2018.
Commercial segment net sales for Q2 of fiscal 2019, including concrete trucks and equipment like McNeilus mixer trucks, decreased 9.9 percent to $237.9 million on lower deliveries. Commercial segment operating income decreased 52.4 percent to $7.8 million, or 3.3 percent of sales, compared to $16.4 million or 6.2 percent sales in the second quarter of fiscal 2018.
Source: Oshkosh
