Tough North America market hits JLG Q3 sales

JLG, which forms the Access segment of parent company Oshkosh, decreased $253.6 million, or 18.6%, in the third quarter of 2025 to $1.11 billion.

According to Oshkosh this was primarily due to reduced sales volume in North America and higher discounts on equipment.

JLG’s new EC600AJ electric, articulated boom lift. (Image: JLG).

JLG’s operating income dropped 43.2% to $118.0 million, or 10.6 percent of sales, compared to $207.9 million, or 15.2% of sales, in the third quarter of 2024.

“In Access, we delivered double-digit operating margin while continuing to navigate near-term challenging market conditions,” said John Pfeifer, president and CEO of Oshkosh Corporation.

Oshkosh reported a considerably smaller drop in its other divisions, with the Vocational segment sales increasing $153.8 million, or 18.9%, and Transport segment sales increasing $47.5 million, or 8.8% in the third quarter.

Overall sales for the quarter decreased $52.8 million, or 1.9%, to $2.69 billion. Consolidated operating income in the third quarter decreased 2.2% to $260.4 million,

As the company added, the group’s negative performance, “is primarily due to lower sales volume in the Access segment, partially offset by higher sales volume in the Vocational and Transport segments.”

Looking ahead the company has revised its outlook downwards for the full 2025 year, due to lower anticipated sales volume in the Transport and Access segments.

Earnings per share are forecasted to be between $10.50 and $11.00, down $0.50 from its previous guidance on the low end. The company expects net sales to be between $10.3 billion and $10.4 billion in 2025, compared to its most recent estimate of $10.6 billion.