Welcome to our dedicated page for Terex Corporation news (Ticker: TEX), a resource for investors and traders seeking the latest updates and insights on Terex Corporation stock.
Terex Corporation (NYSE: TEX) is a global manufacturer that specializes in producing a diverse range of equipment for various industries. The company operates through two main segments: Materials Processing (MP) and Aerial Work Platforms (AWP). These segments cater to numerous applications including construction, infrastructure, quarrying, mining, shipping, transportation, refining, energy, utility, and manufacturing.
Terex's core offerings include aerial work platforms, material handlers, cranes, and concrete mixer trucks. The company has a strong presence in non-residential construction and maintenance sectors, as well as in energy, recycling, and materials management. Terex has evolved through a series of acquisitions over several decades and has recently streamlined its focus by divesting less profitable businesses.
One of Terex's key strengths is its customer-centric approach. The company provides comprehensive financial products and services via Terex Financial Services, making equipment acquisition more accessible. Terex's innovative solutions include electric and hybrid machinery that offer quiet, emission-free performance, and products that facilitate renewable energy and material recovery.
Recent developments highlight Terex's commitment to growth and leadership transitions. John L. Garrison, Jr. is set to retire as Chairman and CEO, effective January 1, 2024, to be succeeded by Simon Meester, the current President of AWP. This leadership change is expected to ensure a smooth transition and continued strategic focus.
Financially, Terex has shown strong performance. In Q3 2023, the company reported a 15% increase in sales and a 46% rise in earnings per share (EPS) compared to the previous year. Looking forward, Terex has raised its full-year 2023 EPS outlook to approximately $7.05, reflecting its robust market position and operational efficiency.
Terex's products are manufactured in North America, Europe, Australia, and Asia and are sold worldwide. The company engages with customers at all stages of the product life cycle, from initial specification through to parts and service support. This comprehensive approach ensures high customer satisfaction and loyalty.
For more information, visit www.terex.com.
Terex Corporation (NYSE: TEX) announced a conference call to discuss its first quarter 2023 financial results, scheduled for May 2, 2023, at 8:30 a.m. Eastern Time. The call will be led by John L. Garrison, Jr., Chairman and CEO, alongside Julie Beck, Senior VP and CFO. Financial results will be released on May 1, 2023, after market close, and can be accessed via their investor relations website. Terex is a global manufacturer of materials processing machinery and aerial work platforms, with a focus on reducing environmental impact through innovative products. The company operates facilities in North America, Europe, Australia, and Asia, providing extensive support throughout the product lifecycle.
Terex Corporation (NYSE: TEX) will participate in a fireside chat at the J.P. Morgan Industrials Conference on March 14, 2023, at 4:30 PM ET. The event will be streamed live on Terex's Investor Relations website. Terex is a global manufacturer known for its materials processing machinery and aerial work platforms, aimed at construction, recycling, and energy sectors. The company emphasizes sustainability with products that reduce environmental impacts. More details can be found in their official announcements.
Terex Corporation (NYSE: TEX) will participate in a fireside chat at the 15th Annual Evercore ISI Industrial Conference on March 8, 2023, at 10:20 AM ET. This event will provide insights into the company's strategies and operations.
A live webcast of the discussion will be available on Terex's Investor Relations website, ensuring accessibility for interested stakeholders. Terex is recognized for its commitment to sustainable practices, offering products that support environmental efficiency across various industries globally, including construction and energy.
Terex Corporation (NYSE: TEX) announced its participation in the Barclays Industrial Select Conference on February 23, 2023. Company leadership will engage in a fireside chat starting at 11:30 AM ET. Interested investors can access the live webcast via the Terex Investor Relations website. Terex is a global manufacturer specializing in materials processing machinery and aerial work platforms, offering solutions that promote environmental sustainability. Their products are designed for various industries, including construction and recycling, and are manufactured worldwide.
Terex Corporation (NYSE: TEX) will participate in a fireside chat at Citi's 2023 Global Industrial Tech and Mobility Conference. The event is scheduled for 2:40 PM ET on Wednesday, February 22, 2023. Investors can access the live webcast on the Terex Investor Relations website. Terex is a global manufacturer specializing in materials processing machinery and aerial work platforms, focusing on sustainable practices with electric and hybrid products that minimize environmental impact. The company operates facilities across North America, Europe, Australia, and Asia.
Terex Corporation (NYSE: TEX) announced a strong financial performance for Q4 2022, with sales reaching $1.2 billion, a 23% increase year-over-year. Income from operations was $121 million, up 73%, leading to an EPS of $1.34, reflecting a 63% rise. For the full year, sales rose 14% to $4.4 billion, with a backlog growth of 22% to $4.1 billion. The company projects 2023 sales between $4.6 and $4.8 billion, anticipating EPS between $4.60 and $5.00.
Terex Corporation (NYSE: TEX) has declared a quarterly dividend of $0.15 per share, representing a 15% increase from previous dividends. This decision reflects the company's confidence in its financial health and growth prospects. The dividend will be paid on March 20, 2023, to shareholders on record by the close of business on March 9, 2023. The increase highlights Terex's commitment to returning value to its shareholders while maintaining a strong financial position.
Terex Corporation (NYSE: TEX) has made an equity investment in Austin-based robotics firm Apptronik, known for developing advanced mobile robotic systems. This collaboration includes a co-development agreement aimed at creating robotic applications for Terex's product line. Terex's Chairman, John L. Garrison, Jr., highlighted the growing trend of human-centered robots and Apptronik's strategic position within it. Apptronik has notable projects, including the NASA-backed Apollo humanoid robot. This partnership aligns with Terex's mission to innovate and diversify its technological offerings in the materials processing machinery sector.
Terex Corporation (NYSE: TEX) will hold a conference call on February 10, 2023, at 8:30 a.m. ET to discuss its fourth quarter and year-end 2022 financial results. The call will be hosted by John L. Garrison, Jr. and Julie Beck. Financial results will be released after the market closes on February 9, 2023, and will be available on the company's investor relations website. Participants are encouraged to log into the webcast in advance, which will also be available for replay post-event.
Terex Corporation (NYSE: TEX) announced a new share repurchase program of up to $150 million, supplementing the remaining $43 million from its previous program. CEO John L. Garrison highlighted the company's robust balance sheet and expected free cash flow as key reasons for this decision. The share repurchase is aligned with Terex's capital allocation strategy, aimed at offsetting dilution and returning capital to shareholders. The timing will depend on liquidity and market conditions, and the program can be suspended or discontinued at any time.
FAQ
What is the current stock price of Terex Corporation (TEX)?
What is the market cap of Terex Corporation (TEX)?
What does Terex Corporation specialize in?
What are the main business segments of Terex?
Who is the current CEO of Terex Corporation?
Where are Terex's products manufactured?
What financial services does Terex offer?
What is Terex's approach to environmental sustainability?
How did Terex perform financially in Q3 2023?
What is Terex's earnings per share (EPS) outlook for the full year 2023?
Who should be contacted for investor relations at Terex?
What recent leadership changes have been announced at Terex?
