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) will participate in a fireside chat at J.P. Morgan's 2022 Industrials Conference on March 17, 2022, at 1:20 PM ET. This event will focus on the company's operations and market strategies. Interested parties can access the live webcast on the Terex Investor Relations website. Terex is known for its innovative products in aerial work platforms and materials processing, emphasizing environmentally-friendly solutions.
Terex Corporation (NYSE: TEX) announced participation in a fireside chat at the Evercore ISI Industrial Conference, scheduled for March 1, 2022, at 2:20 PM ET. The event will be live-streamed on Terex's Investor Relations website. Terex is a leading global manufacturer specializing in aerial work platforms and materials processing machinery, focusing on products that support sustainability and environmental responsibility. The company offers a range of equipment designed for various sectors including construction and energy.
Terex Corporation (NYSE: TEX) will participate in a fireside chat at the Barclays Industrial Select Conference on February 23, 2022, at 8:00 AM ET. The event will be available via live webcast on the Terex Investor Relations website. Terex is a leading global manufacturer of aerial work platforms and materials processing machinery, focusing on reducing environmental impact through innovative products. Their solutions support various industries, including construction and energy, and are manufactured across multiple continents.
Terex Corporation (NYSE: TEX) will participate in a fireside chat at Citi's 2022 Global Industrial Tech and Mobility Conference on February 23, 2022, at 3:30 PM ET. The event will be accessible via a live webcast on the Terex Investor Relations website. Terex is a global leader in manufacturing aerial work platforms and materials processing machinery, focusing on environmentally friendly solutions. They provide products for various industries, including construction and energy, and support clients through the entire product life cycle.
Terex Corporation (NYSE: TEX) reported robust financial results for Q4 2021, earning $58 million ($0.82/share) on net sales of $990.1 million, a significant increase from $14.9 million ($0.21/share) on $786.7 million in Q4 2020. For 2021, income rose to $217.5 million ($3.07/share) on sales of $3.9 billion, compared to $9 million ($0.13/share) on $3.1 billion in 2020. The company expects 2022 sales between $4.1 to $4.3 billion with EPS of $3.55 to $4.05, backed by strong customer demand and strategic growth investments.
Terex Corporation (NYSE:TEX) has declared a quarterly dividend of $0.13 per share, payable on March 21, 2022. This dividend is for stockholders on record as of the close of business on March 9, 2022. The company focuses on manufacturing aerial work platforms and materials processing machinery, aiming to reduce environmental impacts through electric and hybrid products.
Terex (NYSE: TEX) announced a Series B investment in South Carolina-based Viatec, Inc., a manufacturer of electronic power take-off systems for utility fleets. Terex is the lead investor, joined by Duke Energy. This partnership aims to scale Viatec's production and enhance the electrification solutions available to utility customers. The collaboration follows years of engagement, and a Terex representative will join Viatec's board. Terex's investment reflects confidence in Viatec’s potential, bolstered by Duke Energy's prior involvement as a customer.
Terex Corporation (NYSE: TEX) is set to hold a conference call on February 11, 2022, at 8:30 a.m. ET to discuss its fourth quarter and year-end 2021 financial results. The results will be released post-market on February 10, 2022. The call will be led by John L. Garrison, Jr., Chairman and CEO, and Julie Beck, CFO. Interested participants are advised to log in 15 minutes early. The call will also be available for replay on the Terex investor relations website.
Terex Corporation (NYSE: TEX) reported Q3 2021 income from continuing operations of $47.5 million or $0.67 per share, up from $22.0 million or $0.31 per share in Q3 2020. Net sales rose to $993.8 million from $765.6 million year-over-year. Despite strong demand and growth in orders, the company faces supply chain challenges. Terex plans to implement further price increases to counteract rising costs. Full-year EPS outlook is updated to $2.75 to $2.85 on net sales of $3.85 billion. The company also reported $183 million in free cash flow year-to-date and reduced leverage by prepaying $150 million in term loans.
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