Net sales increased 15 percent for the quarter over 1Q 2018, the company reports.
It also reports a 26-percent hike in operating income and a 5-percent increase in machine deliveries. The operating margin—earnings before interest and taxes—rose from 13.8 percent to 15.1 percent.
Europe saw 23 percent net sales growth; South America, 6 percent; and Asia, 3 percent. Africa and Oceania posted a 5 percent drop.
Last year, the company posted a 27 percent increase in sales, and a 21 percent rise in 4Q 2018.
Company President Melker Jernberg called the first-quarter results good for the global construction equipment market. He said the company is managing well the increase in sales and keeping costs down “to deliver encouraging levels of operating income and operating margin.”