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) 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) 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.
Terex Corporation (NYSE: TEX) held its Investor Day on December 13, 2022, at the New York Stock Exchange, where it reiterated its 2022 guidance and announced long-term financial targets for 2027. CEO John L. Garrison, Jr. highlighted the company's operational excellence and strategic investments. Key growth areas include the Materials Processing segment, which aims for ~$1.9B in sales and 15.0%-15.3% operating margin. For 2027, Terex targets net sales of ~$6.0B+, an operating margin of 13.0%-14.0%, and EPS of $8.00-$9.50.
Terex Corporation (NYSE: TEX) has announced its participation in a fireside chat at Credit Suisse's 10th Annual Global Industrials Conference. The event is scheduled for December 1, 2022, at 1:15 PM ET. The live webcast can be accessed on the Terex Investor Relations website. Terex is a global manufacturer specializing in materials processing machinery, supporting various industries while focusing on sustainability through electric and hybrid products.
Terex Corporation (NYSE: TEX) will hold an Investor Day at the New York Stock Exchange on December 13, 2022, from 10:00 AM to 1:00 PM ET. The event includes presentations and a Q&A session with CEO John Garrison and CFO Julie Beck. Interested participants can register for the in-person event or watch the live webcast here. A replay will also be available on the Terex Investor Relations site post-event.
Terex Corporation (NYSE: TEX) has published its 2022 Environmental, Social and Governance (ESG) Report, emphasizing its commitment to sustainable practices. Key highlights include identifying five critical ESG areas, launching an all-electric utility truck, and achieving 15% reductions in greenhouse gas emissions and energy intensity. Notably, approximately 60% of Terex's MP and 70% of AWP products are electric or hybrid. The report aligns with multiple ESG reporting frameworks and supports the United Nations Sustainable Development Goals.
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