JLG says US sales to soften
By Murray Pollok12 March 2008
Capital investment by US rental companies will be “flat to slightly down, but the overall tone is strong,” said Charles Szews, Oshkosh Truck's president and chief operating officer, speaking during the company's conference call for its quarterly results to September 30.
He said JLG's sales had grown by a double digit rate in North America in the three months to 30 September even without the addition of Cat telehandler sales.
However, Oshkosh is expecting a decline in JLG's sales in North America for its fiscal year to September 2008, partly due to softening rental spending and because of the weak telehandler market.
Robert Bohn, chairman and chief executive officer of Oshkosh Truck, hailed JLG's “truly outstanding performance” in the conference call. JLG reported a 46.6% rise in sales to $840 million for the quarter. Oshkosh is expecting JLG's overall sales for fiscal 2008 to grow by around 20%, largely the result of “very robust” international demand.