Welcome to our dedicated page for Terex news (Ticker: TEX), a resource for investors and traders seeking the latest updates and insights on Terex stock.
Terex Corporation (NYSE: TEX) provides innovative equipment solutions for construction, infrastructure, and recycling industries worldwide. This dedicated news hub offers investors and industry professionals centralized access to official announcements, strategic developments, and operational updates from the global industrial leader.
Track critical updates including quarterly earnings reports, product launches, sustainability initiatives, and leadership changes. Our curated feed ensures timely access to Terex's material processing innovations, aerial work platform advancements, and environmental solutions developments. Discover how the company's global manufacturing expertise and customer-focused engineering translate to market performance.
Key coverage areas include equipment lifecycle updates, strategic partnerships, safety certifications, and technology integrations across Terex's Materials Processing and Aerial Work Platforms segments. Bookmark this page for reliable updates on operational expansions, regulatory compliance milestones, and industry-specific solutions from a NYSE-listed industrial equipment manufacturer.
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.
Terex (NYSE: TEX) has updated its 2024 outlook, projecting adjusted earnings per share between $5.80 and $6.20 on revenue of $4.85 to $5.05 billion, excluding the benefit of the recently announced Environmental Solutions Group (ESG) acquisition. CEO Simon Meester cited faster-than-anticipated channel adjustments leading to lower sales volume in both AWP and MP segments. The company expects to close the ESG acquisition early in Q4, which is anticipated to generate approximately $45 million of Adjusted EBITDA in Q4. Terex will host a conference call to review its third quarter 2024 financial results on October 30, 2024, at 8:30 a.m. Eastern Time.
Terex (NYSE:TEX) has announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) for its proposed acquisition of Environmental Solutions Group (ESG) from Dover This marks a significant milestone in the acquisition process, which was initially announced on July 22, 2024.
The expiration of the HSR Act waiting period indicates that the antitrust review has been completed, clearing a major regulatory hurdle for the transaction. Terex expects the acquisition to close later this year, pending the satisfaction of customary non-regulatory closing conditions.
This strategic move by Terex aims to expand its portfolio in the environmental solutions sector, potentially strengthening its market position and diversifying its offerings.
Terex (NYSE: TEX) has announced its participation in the Jefferies Industrials Conference. The company's leadership will engage in a fireside chat on Thursday, September 5, 2024, at 10:25 AM EST. This event provides an opportunity for Terex to showcase its industrial expertise and share insights with investors and industry professionals.
The Jefferies Industrials Conference is a significant platform for companies in the industrial sector to present their strategies, discuss market trends, and connect with potential investors. Terex's involvement suggests the company's commitment to maintaining transparent communication with stakeholders and highlighting its position in the industrial equipment market.
Terex (NYSE: TEX) reported strong Q2 2024 results with sales of $1.4 billion, consistent with the prior year. Income from operations increased 22% sequentially to $193 million, with an operating profit margin of 14.0%, up 180 bps sequentially. Earnings per share reached $2.08, with adjusted EPS of $2.16. The company achieved a return on invested capital of 25.9%.
Terex updated its full-year 2024 outlook, projecting adjusted EPS between $7.15 and $7.45. The company also announced an agreement to purchase Environmental Solutions Group (ESG), expected to close in H2 2024, which will strengthen its portfolio in the waste and recycling market.
Terex (NYSE: TEX) has announced a quarterly dividend of $0.17 per share. The dividend will be paid on September 19, 2024 to stockholders of record as of the close of business on August 9, 2024. This announcement demonstrates Terex's commitment to providing regular returns to its shareholders, maintaining its dividend policy. The consistent dividend payout may be seen as a sign of the company's financial stability and confidence in its future performance.
Dover (NYSE: DOV) has announced the sale of its Environmental Solutions Group (ESG) business to Terex (NYSE: TEX) for $2 billion. ESG, part of Dover's Engineered Products segment, is a leading provider of refuse collection vehicles, compactors, and balers, along with related aftermarket equipment and digital offerings. The Chattanooga-based unit generated approximately $750 million in revenue in 2023.
The transaction is expected to close before the end of 2024, subject to regulatory approvals and customary closing conditions. Dover's CEO, Richard J. Tobin, expressed gratitude to ESG's management team for their transformational efforts over the past decade. Centerview Partners and Skadden, Arps, Slate, Meagher & Flom LLP served as financial advisor and legal counsel to Dover, respectively.
Terex (NYSE: TEX) has announced a $2.0 billion acquisition of Environmental Solutions Group (ESG) from Dover The deal, valued at $1.725 billion after tax benefits, represents 8.4x 2024E EBITDA including synergies. ESG is a leader in refuse collection vehicles and waste compaction equipment, with brands including Heil, Marathon, and Curotto-Can.
Key points of the acquisition:
- Reduces cyclicality and expands Terex's presence in the waste and recycling market
- Expected to unlock $25 million in synergies by 2026
- Enhances Terex's North American market exposure to 65%
- Anticipated to be double-digit percentage adjusted EPS accretive in 2025
- Creates a new Environmental Solutions segment, combining ESG with Terex's Utilities business
The transaction is expected to close in the second half of 2024, subject to regulatory approvals.
Terex (NYSE: TEX) has announced its upcoming second quarter 2024 financial results conference call, scheduled for Wednesday, July 31, 2024, at 8:30 a.m. Eastern Time. The call will be hosted by Simon Meester, President and CEO, and Julie Beck, Senior VP and CFO. Terex will release its financial results after market close on Tuesday, July 30, 2024, which will be available on the company's investor relations website.
Participants are advised to access the webcast 15 minutes before the start time. A replay of the webcast will be accessible on the Terex investor relations website for those unable to attend the live call.
Terex (NYSE: TEX) has announced participation in several industrial investor conferences. KeyBanc's 2024 Industrials & Basic Materials Conference will take place on Wednesday, May 29th. Stifel's 2024 Cross Sector Insight Conference is scheduled for Wednesday, June 5th at 10:55 AM EDT. Additionally, Terex will present at Deutsche Bank's Global Industrials, Materials & Building Products Conference on Thursday, June 6th at 1:50 PM EDT. These appearances aim to engage with investors, discuss company performance, and outline future business strategies.
