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Company Overview
Terex Corporation (TEX) is a diversified global industrial equipment manufacturer that specializes in delivering innovative and reliable solutions across multiple sectors including materials processing, waste and recycling, mobile elevating work platforms, and electric utility equipment. Leveraging extensive engineering expertise and a customer-driven approach, Terex designs, builds, and supports a broad range of equipment that underpins critical infrastructure, manufacturing, energy, and construction applications. Its operations are defined by robust technological integration and best-in-class lifecycle support practices that ensure optimal return on investment over the entire equipment life cycle.
Business Segments and Capabilities
Terex organizes its diverse product portfolio into distinct yet complementary business segments that address specialized market needs:
- Materials Processing: This segment offers heavy-duty machinery designed for a variety of industrial applications such as recycling, quarrying, and waste management. The equipment is engineered to optimize throughput and efficiency while addressing challenges in material handling and processing.
- Aerial Work Platforms: Terex provides mobile elevating work platforms (MEWPs) that enhance workplace safety and accessibility. These platforms are designed for use in maintenance, construction, and manufacturing environments, offering precision and operational flexibility.
- Environmental and Recycling Solutions: With a focus on sustainability and efficiency, Terex integrates waste and recycling solutions to support customers in reducing environmental impact. These offerings include equipment that facilitates material recovery and waste processing, thereby enhancing overall operational productivity.
In addition to its core equipment manufacturing, Terex extends its value proposition through comprehensive parts and service support and digital solutions that ensure customers receive end-to-end lifecycle management. This integrated support system minimizes downtime and maximizes the efficiency of the equipment deployed across various industrial sectors.
Global Manufacturing and Market Reach
Terex Corporation boasts a global footprint with manufacturing facilities spread across North America, Europe, and Asia Pacific. This geographical distribution not only facilitates proximity to major markets but also ensures that products are developed to meet diverse regional needs and varying industry standards. The company’s ability to tailor its offerings in multiple languages and adapt to local regulatory environments further underscores its commitment to quality and service consistency on a worldwide scale.
Customer-Driven Innovations and Digital Integration
At the heart of Terex's operations is a relentless focus on meeting customer requirements. The company continuously adapts its solutions through digital enhancements and innovative engineering, incorporating modern technologies that help customers to streamline operations and lower lifecycle costs. Terex’s digital tools provide actionable insights, predictive maintenance, and asset management solutions that empower users to operate more effectively in rapidly evolving industrial environments.
Operational Excellence and Financial Resilience
Terex demonstrates a robust operational framework built on cost discipline, strategic capacity planning, and agile production practices. The company’s diverse product range and market presence help mitigate cyclical economic challenges, ensuring consistent performance even during fluctuations in market demand. Emphasizing its commitment to operational excellence, Terex supports its portfolio with financial products and services that facilitate equipment acquisition, thereby enhancing customer access to vital industrial technologies.
Technological Expertise and Lifecycle Support
The company’s commitment to technological excellence is manifested in its continuous improvement of product design and support services. Terex employs cutting-edge engineering techniques to innovate new product categories and digital solutions that improve reliability, safety, and efficiency. Its comprehensive support services, which include parts availability and maintenance solutions, further highlight the company’s integrated approach to product lifecycle management, ensuring that every piece of equipment delivers sustained performance throughout its use.
Strategic Position in a Competitive Landscape
Operating in a highly competitive industrial equipment sector, Terex differentiates itself through its diversified product portfolio, global manufacturing capabilities, and robust lifecycle support system. Its strategic acquisitions have expanded its market presence and reduced cyclicality by introducing non-cyclical revenue streams. This multi-faceted approach not only solidifies its standing amongst competitors but also reinforces its reputation as an authoritative and trusted partner in the industrial equipment space.
Commitment to Quality and Customer Satisfaction
Every facet of Terex's business—from product development to after-sales service—is underpinned by meticulous quality management processes. The company’s commitment to customer satisfaction is evidenced by its proactive approach to feedback, continuous product innovation, and comprehensive support services, all designed to meet the evolving operational needs of customers across the globe.
Conclusion
In summary, Terex Corporation represents a reliable and innovative force in the industrial equipment manufacturing sector. Its broad portfolio, global reach, technological expertise, and steadfast commitment to customer support have firmly established its market significance and operational resilience. With an integrated approach that combines advanced engineering, strategic acquisitions, and digital integration, Terex continues to deliver high-quality, customer-focused solutions that are essential to building and maintaining infrastructure in a dynamic industrial landscape.
Terex (NYSE: TEX) has announced that its Board of Directors has declared a quarterly dividend of $0.17 per share. The dividend will be paid on March 19, 2025 to stockholders of record at the close of business on March 7, 2025.
Terex (NYSE: TEX) reported its Q4 and full-year 2024 results, with full-year sales reaching $5.1 billion and operating margins of 10.3% (adjusted 11.3%). The company achieved full-year EPS of $4.96 (adjusted $6.11), marking the second-highest adjusted earnings in Terex history.
Q4 2024 net sales were $1.2 billion, up 2% year-over-year, driven by the Environmental Solutions Group (ESG) acquisition, which contributed strong adjusted operating margins of 21.9%. However, Materials Processing and Aerial Work Platforms segments experienced declines.
For 2025, Terex forecasts net sales between $5.3-$5.5 billion, EPS of $4.70-$5.10, and free cash flow of $300-$350 million. The company expects industry-wide channel dynamics that impacted H2 2024 to continue into H1 2025, while ESG and Terex Utilities are anticipated to maintain strong momentum.
Terex (NYSE: TEX) has scheduled its fourth quarter and year-end 2024 financial results conference call for Thursday, February 6, 2025, at 8:30 a.m. Eastern Time. The event will be hosted by Simon Meester, President and CEO, and Julie Beck, Senior VP and CFO. Financial results will be released on the morning of February 6 and will be accessible on the company's investor relations website. Participants are advised to join the webcast 15 minutes before the start time, and a replay will be available on the investor relations platform.
Terex (NYSE: TEX) has appointed Jennifer Kong-Picarello as its new Senior Vice President and Chief Financial Officer, effective February 3, 2025. Kong-Picarello will succeed Julie Beck and join the Terex Executive Leadership Team. She brings over 20 years of experience, most recently serving as SVP and CFO of Energy Management at Schneider Electric's €28B segment. Her previous roles include VP and CFO positions at Honeywell's Intelligrated division and various finance leadership positions at Tyco and Deloitte. Beck will assist with the transition until April 1 after Kong-Picarello assumes CFO duties following the filing of Terex's 2024 Annual Report.
Terex (NYSE: TEX) reported Q3 2024 results with net sales of $1.2 billion, down 6% year-over-year. Operating margin was 10.1% (10.5% adjusted), with EPS of $1.31 ($1.46 adjusted). Materials Processing segment saw declining sales, while Aerial Work Platforms showed modest growth. The company completed the acquisition of Environmental Solutions Group in October, strengthening its waste and recycling portfolio. Full-year 2024 outlook projects net sales of $5.0-$5.2 billion with adjusted EPS guidance of $5.85-$6.25.
Terex (NYSE: TEX) has announced a quarterly dividend declaration by its Board of Directors. The dividend amount is set at $0.17 per share. This dividend will be paid on December 19, 2024 to all stockholders of record as of the close of business on November 8, 2024. This announcement demonstrates Terex's commitment to providing regular returns to its shareholders.
Dover (NYSE: DOV) has completed the sale of its Environmental Solutions Group business to Terex (NYSE: TEX). The sold business was previously part of Dover's Engineered Products segment. This transaction marks the finalization of a previously announced deal, demonstrating Dover's commitment to portfolio optimization and strategic focus on its core businesses.
Terex (NYSE: TEX) has completed its acquisition of Environmental Solutions Group (ESG) from Dover for $2.0 billion, or $1.725 billion net of expected tax benefits. This strategic move is expected to:
1. Reduce cyclicality and lower capital intensity
2. Deliver financial accretion and unlock ~$25 million in synergies by 2026
3. Enhance Terex's presence in the waste & recycling segment
4. Expand its North American addressable market
ESG, known for its industry-leading brands like Heil and Marathon, has demonstrated a 7%+ long-term organic revenue CAGR over the past decade. The acquisition is anticipated to be double-digit percentage adjusted EPS accretive in 2025, with significant growth thereafter. Terex expects this move to drive increased revenue growth, free cash flow, EBITDA margin, and EPS accretion.
Terex (NYSE:TEX) has announced the pricing of a private offering of $750 million in 6.250% senior notes due 2032. The proceeds, along with new term loan borrowings and cash on hand, will be used to finance Terex's acquisition of Dover 's Environmental Solutions Group (ESG) and cover related expenses. The notes will be offered only to qualified institutional buyers and certain non-U.S. persons, and are not registered under the Securities Act.
The offering is expected to close on October 8, 2024, subject to customary conditions. Concurrently, Terex plans to amend its existing credit agreement, increasing its revolving credit facilities to $800 million and adding a new term loan facility of up to $1,250 million. These financial moves are aimed at supporting Terex's strategic acquisition and expansion plans.
Terex (NYSE:TEX) has announced its intention to offer $750 million in senior notes due 2032 through a private offering exempt from SEC registration. The proceeds, along with new term loan borrowings and cash on hand, will be used to finance Terex's acquisition of Dover 's Environmental Solutions Group (ESG) and related expenses.
Concurrently, Terex is seeking to amend its existing credit agreement to increase its revolving credit facilities to $800 million from $600 million and extend their maturity. Additionally, Terex plans to establish a new term loan facility for up to $1,250 million. The notes will be offered only to qualified institutional buyers and certain non-U.S. persons, and will not be registered under the Securities Act.
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