JLG reports falls in first quarter

JLG, the access segment of parent company Oshkosh Corporation, saw its revenue fall by 1.4% in the first quarter of 2026, primarily due to lower sales volumes.

By product type, aerial work platforms sales dropped 4.4% to $431 million, while telehandlers experienced a more substantial fall of 14.8% to 208.2 million. 

JLG presented the ‘jobsite of the future’ at ConExpo with an automated robotic welding end effector carrying out steel beam construction.

Access segment operating income saw a larger drop of 66.3% to $34.7 million in the quarter, compared to the same period in 2025. Adjusted operating income in the first quarter of 2026 was $38.8 million.

John Pfeifer, president and chief executive officer of Oshkosh Corporation, said, “In Access, lower results reflected adverse sales mix and unfavourable price-cost dynamics. We saw strong order activity and solid demand in the segment, supported by mega projects, including data centre-related construction.”

Equipment price increase

Speaking to Access Briefing in March, during the ConExpo exhibition in Las Vegas, JLG’s president Mahesh Narang provided an insight into expectation for the company’s revenue.

JLG had seen sales increase 1.3% to $1.17 billion in the fourth quarter of 2025, compared to a 13% fall across the year to $4,494.4 million.

The leader follower scissor lifts with steel beam waiting for the command to lift it into position.

Explaining the uptick in the fourth quarter, Narang said, “What happened in Q4 was we were not cost by price neutral as a company because of inflation and various other things that are happening in the world.

“So, to be cost price neutral, we raised prices. And what we saw in Q4 is customers buying ahead of the price increase and that’s why you saw our Q4 being higher than normal.”

Narang adds, “And that’s why our guidance for 2026 is slightly lower than last year, because we pulled ahead from 2026 into Q4.”

Groupwide results 

Across the Oshkosh group consolidated sales in the first quarter of 2026 were relatively flat at $2.32 billion, as pricing, currency and the impact of cumulative catch-up adjustments offset lower sales volume.

Consolidated operating income in the first quarter of 2026 decreased 53.2% however to $82 million. The decrease was primarily due to unfavourable sales mix, higher manufacturing overhead costs and lower sales volume. 

Pfeifer added, “Importantly, demand across our segments remains solid and we have good visibility for the remainder of the year. We are maintaining our full-year expectation of adjusted earnings per share in the range of $11.50.”