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) is set to host a conference call on October 28, 2022, at 8:30 a.m. ET to review its third quarter 2022 financial results. The call will be led by John L. Garrison, Jr., Chairman and CEO, alongside Julie Beck, CFO. The financial results will be available after market close on October 27, 2022, and participants are encouraged to join the webcast ahead of time. Terex manufactures materials processing machinery and aerial work platforms globally, focusing on sustainability through electric and hybrid options.
Terex Corporation (NYSE: TEX) reported second quarter 2022 sales of $1.1 billion, up 4% year-over-year and 9% on an FX-neutral basis. The backlog grew 51% year-over-year to $3.5 billion, indicating strong demand. Operating margin improved 220 bps to 9.6%, with EPS rising 2.5% to $1.07. Terex raised its full-year EPS outlook to $3.80-$4.20. Despite challenges like inflation and supply chain disruptions, the company is focused on sustainable growth, new technologies, and maintaining a strong balance sheet.
Terex Materials Processing has acquired ProAll, a Canadian producer of mobile volumetric concrete mixers, to enhance its product offerings in the concrete market. This acquisition enables Terex to eliminate delivery time concerns by providing make-to-order concrete on-site, tailored to specific job requirements. The deal expands Terex's presence in the US and international markets, adding a new revenue stream and opportunities for growth. Kieran Hegarty, President of Terex MP, highlighted the significant potential for expanding into new markets.
Terex Corporation (NYSE:TEX) has declared a quarterly dividend of $0.13 per share, which will be distributed on September 19, 2022. Stockholders of record as of August 12, 2022 will be eligible for this dividend. Terex is known for manufacturing materials processing machinery and aerial work platforms, serving various industries worldwide. The company also focuses on reducing environmental impacts through innovative electric and hybrid products.
Terex Corporation (NYSE: TEX) will hold a conference call on August 3, 2022, at 8:30 a.m. ET to discuss its second quarter 2022 financial results, following the release of these results after market close on August 2, 2022. The call will be led by John L. Garrison, Jr., CEO, and Julie Beck, CFO. Investors can access the webcast 15 minutes prior to the call and will also have the option to replay the webcast afterward. For more information and access to the financial results, visit Terex Investor Relations.
Terex Corporation (NYSE: TEX) will participate in a fireside chat at Stifel's 2022 Cross Sector Insight Conference, scheduled for June 8, 2022, at 9:10 AM ET. Company leadership will discuss insights relevant to the construction and manufacturing sectors. Investors can access the live webcast via the Terex Investor Relations website. Terex is known for its innovative machinery and sustainable solutions, supporting various industries while minimizing environmental impact.
Terex Corporation (NYSE: TEX) has declared a quarterly dividend of $0.13 per share, which will be paid on June 21, 2022. Shareholders of record as of the close of business on June 6, 2022 will receive this dividend. Terex is a global manufacturer involved in various sectors including construction and recycling, emphasizing products that reduce environmental impact.
Terex Corporation (NYSE: TEX) reported Q1 2022 income from continuing operations of $52.3 million, or $0.74 per share, a 32% increase year-over-year. Net sales reached $1 billion, up 16% from the prior year. The company has a record backlog of $3.5 billion, indicating strong customer demand. Operating margin improved to 7.4% with effective cost management, maintaining SG&A at 11.1% of sales. Terex reaffirms its full-year EPS outlook of $3.55 to $4.05 amidst ongoing supply chain challenges and inflationary pressures.
Terex (NYSE: TEX) announced its acquisition of Steelweld, a heavy fabrications manufacturer in Northern Ireland, on April 25, 2022. This strategic purchase aims to enhance Terex Materials Processing's fabrication capabilities, aligning with its growth strategy. The acquisition brings Steelweld's skilled workforce and strong reputation for quality and service into the Terex portfolio. The move is expected to bolster Terex's operational efficiency in materials processing, ultimately catering to a broader market with improved offerings.
Terex Corporation (NYSE: TEX) will conduct a conference call on April 29, 2022, at 8:30 a.m. ET to discuss its Q1 2022 financial results. The results will be released after market close on April 28, 2022. John L. Garrison, Jr., CEO, and Julie Beck, CFO, will lead the call. Interested participants should connect 15 minutes prior to the start. The call will be available for replay on the company’s investor relations website. Terex is a global leader in manufacturing materials processing machinery and aerial work platforms.
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