October 30, 2019
Q3 Earnings per Share $0.73, $0.82 as adjusted Global Sales of $1.0 billion, down 7% compared to Q3 2018 Q3 Cash from Operating Activities of $127 million, Free Cash Flow of $104 million Improved Liquidity to $1.1 billion WESTPORT, Conn., Oct. 30, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced third quarter 2019 income from continuing operations of $52.4 million, or $0.73 per share, on net sales of $1.0 billion. In the third quarter of 2018, the reported income from continuing operations was $69.2 million, or $0.92 per share, on net sales of $1.1 billion. Income from continuing operations, as adjusted, for the third quarter of 2019 was $58.9 million, or $0.82 per share. This compares to income from continuing operations, as adjusted, of $80.8 million or $1.08 per share in the third quarter of 2018. The Glossary at the end of this press release contains further details regarding these non-GAAP measures. “It has become clear that we are in a softening
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October 23, 2019
WESTPORT, Conn., Oct. 23, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced that Stacey Babson-Smith, the Company’s Vice President, Chief Ethics & Compliance Officer, will report directly to John L. Garrison, Jr., Chairman, President and CEO, effective January 1, 2020. She will continue to serve on the Company’s Executive Leadership Team. Ms. Babson-Smith previously had reported to Eric I Cohen, Senior Vice President, Secretary and General Counsel, who will be leaving the Company on December 31, 2019.
Stacey Babson-Smith, Terex Chief Ethics & Compliance Officer Ms. Babson-Smith has been with Terex for 17 years, the last 11 of which as Vice President, Chief Ethics & Compliance Officer. She has built and led a robust global ethics and compliance program that includes policies, systems and processes, tool kits, training, investigations, communications and monitoring, with full oversight of all corporate ethics and compliance activities. Recently, Ms.
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October 23, 2019
WESTPORT, Conn., Oct. 23, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced that Eric I Cohen, Senior Vice President, Secretary and General Counsel, will be leaving the Company effective December 31, 2019. He will be succeeded in the role by Scott J. Posner, who will report to John L. Garrison, Jr., Chairman, President and CEO. Mr. Posner will become a member of the Company’s Executive Leadership Team. Effective with the change, Stacey Babson-Smith, Vice President and Chief Compliance Officer, will also report to Mr. Garrison. Eric I Cohen Scott J. Posner For the past 22 years, Mr. Cohen has been Terex’s Senior Vice President, Secretary and General Counsel and a key member of the Terex Executive Leadership Team, and instrumental in building Terex to what it is today. He has been influential in all aspects of the business, including building the Legal Department, governance structure, Ethics and Compliance function from the ground up and in the Company’s M&A
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October 23, 2019
WESTPORT, Conn., Oct. 23, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced that Brian J. Henry, Senior Vice President, Business Development and Investor Relations will leave the Company effective December 31, 2019. Brian led Terex Merger & Acquisition activities for his entire 29-year career with the Company and was instrumental in developing and completing the over 50 transactions that comprise Terex today. More recently, Mr. Henry also led the Company’s Investor Relations and Strategy functions. Randy Williamson Brian J. Henry Randy Williamson will succeed Mr. Henry as Vice President, Business Development and Strategy, continuing to lead Company and business-level strategy development while also assuming Mr. Henry’s lead role in corporate portfolio development. Mr. Williamson will report to John L. Garrison, Jr., Chairman, President and CEO and will become a member of the Executive Leadership Team. With Mr. Henry’s departure,
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October 23, 2019
WESTPORT, Conn., Oct. 23, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) today announced that Kevin A. Barr will be stepping down as Senior Vice President, Human Resources and Chief Human Resources Officer, and leaving the Company effective December 31, 2019. Amy George will succeed him as Senior Vice President, Chief Human Resources Officer and will lead the Terex Human Resources function. She will report to John L. Garrison, Jr., Chairman, President and CEO, and will continue to serve on the Company’s Executive Leadership Team. Kevin A. Barr Amy George For the past 19 years, Mr. Barr has been Terex’s Chief Human Resources Officer and a key member of the Executive Leadership Team responsible for building a high impact global HR function at Terex, developing the Company’s Terex Way values, and promoting talent development. Ms. George joined Terex in 2007 and has been responsible for Company-wide talent management initiatives and the global diversity and
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October 21, 2019
WESTPORT, Conn., Oct. 21, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) will host a one hour conference call to review its third quarter 2019 financial results on Thursday, October 31, 2019 at 8:30 a.m. Eastern time. John L. Garrison, Jr., Chairman and Chief Executive Officer, will lead the call. The Company will release its financial results prior to the call.
A simultaneous webcast of this call can be accessed at https://investors.terex.com. Participants are encouraged to access the webcast 10 minutes prior to the starting time. The call will also be archived at the above web address. Contact Information: Terex Corporation Brian J. Henry, Senior Vice President Business Development & Investor Relations (203) 222-5954 brian.henry@terex.com https://investors.terex.com About Terex:
Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on investment. The
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October 17, 2019
WESTPORT, Conn., Oct. 17, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) today announced that its Board of Directors declared a quarterly dividend of $0.11 per share. The dividend is to be paid on December 19, 2019 to all stockholders of record as of the close of business on November 8, 2019.
Contact Information: Terex Corporation Brian J. Henry, Senior Vice President Business Development & Investor Relations (203) 222-5954 brian.henry@terex.com https://investors.terex.com About Terex:
Terex Corporation is a global manufacturer of lifting and materials processing products and services that deliver lifecycle solutions to maximize customer return on investment. The Company reports in two business segments: Aerial Work Platforms and Materials Processing. Terex delivers lifecycle solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining
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August 01, 2019
WESTPORT, Conn., Aug. 01, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) today announced that its Board of Directors declared a quarterly dividend of $0.11 per share. The dividend is to be paid on September 19, 2019 to all stockholders of record as of the close of business on August 12, 2019.
Contact Information: Terex Corporation Brian J. Henry, Senior Vice President Business Development & Investor Relations (203) 222-5954 brian.henry@terex.com https://investors.terex.com About Terex:
Terex Corporation is a global manufacturer of lifting and materials processing products and services that deliver lifecycle solutions to maximize customer return on investment. The Company reports in two business segments: Aerial Work Platforms and Materials Processing. Terex delivers lifecycle solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining
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August 01, 2019
WESTPORT, Conn., Aug. 01, 2019 (GLOBE NEWSWIRE) - (NYSE:TEX) – Terex Corporation today announced that following the completion of the sale of Demag® Mobile Cranes to Tadano Ltd., Steve Filipov, President of Terex Cranes, is leaving the Company effective today.
“We are grateful to Steve for leading this transition,” said John L. Garrison, Jr., Chairman, President and CEO of Terex Corporation. “Steve kept the business on course through the transfer and helped ensure that virtually all of the affected team members had the opportunity to stay with the Demag® Mobile Cranes business after the transaction.” The rest of the businesses within the Terex Cranes segment have successfully transitioned within the Company: Terex Utilities is now part of the Aerial Work Platforms segment; Franna Pick-and-Carry cranes in Australia are part of the Materials Processing segment; and the Tower and Rough Terrain cranes businesses in Italy are part of corporate. Mr. Filipov worked for Terex for
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August 01, 2019
WESTPORT, Conn., Aug. 01, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced that it has completed the sale of its Demag® Mobile Cranes business to Tadano Ltd. (“Tadano”) for an enterprise value of approximately $215 million. The final transaction consideration is subject to post-closing adjustments for cash, debt and net working capital.
“The sale of our Demag® Mobile Cranes business is another major milestone on our journey to become a more focused, high performance enterprise. We are committed to delivering improved profitability and return on invested capital across Terex” said John L. Garrison, Terex Chairman, President and CEO. “The net cash proceeds received will further reduce our leverage.” Mr. Garrison continued, “The sale is based on strong industrial logic, as the Demag® Mobile Cranes business will become part of a global crane company with complementary products and capabilities. The Demag® Mobile Cranes business has been part of our Company
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July 29, 2019
• Q2 Earnings per Share $1.14, $1.21 as adjusted • Increased Sales 4%, up 8% excluding the impact of FX • Q2 Cash from Operating Activities of $217 million, Free Cash Flow of $168 million • Reaffirming FY Free Cash Flow guidance of ~$165 million, updating earnings guidance WESTPORT, Conn., July 29, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced second quarter 2019 income from continuing operations of $81.6 million, or $1.14 per share, on net sales of $1.3 billion. In the second quarter of 2018, the reported income from continuing operations was $84.2 million, or $1.10 per share, on net sales of $1.3 billion. Income from continuing operations, as adjusted, for the second quarter of 2019 was $86.9 million, or $1.21 per share. This compares to income from continuing operations, as adjusted, of $101.1 million or $1.32 per share in the second quarter of 2018. The Glossary at the end of this press release contains further details regarding these non-GAAP measures.
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July 17, 2019
WESTPORT, Conn., July 17, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) will host a one hour conference call to review its second quarter 2019 financial results on Tuesday, July 30, 2019 at 8:30 a.m. Eastern time. John L. Garrison, Jr., Chairman and Chief Executive Officer, will lead the call. The Company will release its financial results prior to the call.
A simultaneous webcast of this call can be accessed at https://investors.terex.com. Participants are encouraged to access the webcast 10 minutes prior to the starting time. The call will also be archived at the above web address.
Contact Information: Terex Corporation Brian J. Henry, Senior Vice President Business Development & Investor Relations (203) 222-5954 brian.henry@terex.com https://investors.terex.com About Terex:
Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on
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May 15, 2019
WESTPORT, Conn., May 15, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) today announced that its Board of Directors declared a quarterly dividend of $0.11 per share. The dividend is to be paid on June 19, 2019 to all stockholders of record as of the close of business on June 7, 2019.
Contact Information: Terex Corporation Brian J. Henry, Senior Vice President Business Development & Investor Relations (203) 222-5954 brian.henry@terex.com https://investors.terex.com About Terex:
Terex Corporation is a global manufacturer of lifting and materials processing products and services that deliver lifecycle solutions to maximize customer return on investment. The Company reports in two business segments: Aerial Work Platforms and Materials Processing. Terex delivers lifecycle solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers
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April 30, 2019
• Q1 Earnings per Share $0.79, $0.87 as adjusted • Increased Sales 2%, up 6% excluding the impact of FX • Backlog up 2%, up 6% excluding the impact of FX • Expect full year EPS in the upper half of our previously announced range of $3.60 to $4.20 WESTPORT, Conn., April 30, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced first quarter 2019 income from continuing operations of $57.2 million, or $0.79 per share, on net sales of $1.1 billion. In the first quarter of 2018, the reported income from continuing operations was $68.7 million, or $0.84 per share, on net sales of $1.1 billion. Income from continuing operations, as adjusted, for the first quarter of 2019 was $62.3 million, or $0.87 per share. This compares to income from continuing operations, as adjusted, of $69.9 million or $0.85 per share in the first quarter of 2018. The Glossary at the end of this press release contains further details regarding these non-GAAP
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April 24, 2019
WESTPORT, Conn., April 24, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced that it has sold its boom truck, truck crane and crossover product lines to Load King, a subsidiary of Custom Truck One Source L.P. Included in the transaction are the assets and parts business associated with these product lines.
“This transaction completes one of the portfolio actions we announced in February,” said John L. Garrison, Terex Chairman and Chief Executive Officer. “We continue to implement our Focus, Simplify and Execute to Win strategy. By focusing on businesses where we have a strong market position, we can efficiently concentrate our improvement efforts to maximize value for our customers, team members and shareholders.” Commenting on the transaction, Fred Ross, Custom Truck One Source Chief Executive Officer said: “I am delighted to announce this acquisition and its launch of boom truck, crossover and truck crane product lines under Load King’s brand. This is an
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April 18, 2019
WESTPORT, Conn., April 18, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) will host a one hour conference call to review its first quarter 2019 financial results on Wednesday, May 1, 2019 at 8:30 a.m. Eastern time. John L. Garrison, Jr., Chairman and Chief Executive Officer, will lead the call. The Company will release its financial results prior to the call.
A simultaneous webcast of this call can be accessed at https://investors.terex.com. Participants are encouraged to access the webcast 10 minutes prior to the starting time. The call will also be archived at the above web address. Contact Information: Terex Corporation Brian J. Henry, Senior Vice President Business Development & Investor Relations (203) 222-5954 brian.henry@terex.com https://investors.terex.com About Terex:
Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on investment. The
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February 24, 2019
Q4 Sales up 16% Q4 Operating Profit up 14%, as adjusted up 30% Q4 EPS $(0.42), as adjusted Q4 EPS $0.51 - up 55% FY Sales up 18%, Backlog up 19% FY Operating Profit up 63%, as adjusted up 52% FY EPS $1.45, as adjusted FY EPS $2.71 - up 101% 2019 Guidance Highlights: Sales of ~$4.7 billion, EPS improves to $3.60-$4.20 WESTPORT, Conn., Feb. 24, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced fourth quarter 2018 loss from continuing operations of $(30.6) million, or $(0.42) per share, on net sales of $1.2 billion. The fourth quarter and full year 2018 results include a one-time, non-cash charge of $67 million related to the annuitization of its U.S. pension. In the fourth quarter of 2017, the reported loss from continuing operations was $(31.7) million, or $(0.38) per share, on net sales of $1.1 billion. The fourth quarter and full year 2017 results included a one-time $50.4 million charge associated with U.S. tax law changes. Income from continuing operations, as
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February 22, 2019
WESTPORT. Conn., Feb. 22, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) today announced it has rescheduled its fourth quarter and year-end 2018 financial results conference call to Monday, February 25, 2019 at 8:30 A.M. Eastern Time, to be held with its review of the announcement of the sale of Terex’s Demag® Mobile Cranes business.
John L. Garrison, Jr., Chairman, President and Chief Executive Officer, will lead the call. The Company will release its financial results prior to the call. A simultaneous webcast of this call can be accessed at https://investors.terex.com . Participants are encouraged to access the call 10 minutes prior to the starting time. The call will also be archived at the above web address. Contact Information: Terex Corporation Brian J. Henry, Senior Vice President Business Development & Investor Relations Phone: (203) 222-5954 brian.henry@terex.com Forward Looking Statements:
This press release contains forward-looking information
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February 22, 2019
WESTPORT, Conn., Feb. 22, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE: TEX) today announced that it has agreed to sell its Demag® Mobile Cranes business to Tadano Ltd. for an enterprise value of approximately $215 million. The Demag® Mobile Cranes business manufactures and sells all terrain cranes and large crawler cranes. Included in the transaction are the manufacturing facilities in Zweibrucken, Germany and multiple sales and service locations. The sale, which is subject to government regulatory approvals and other customary closing conditions, is targeted to close in mid-2019. “The Demag® Mobile Cranes business has been part of our Company for almost two decades and produces world class products,” said John L. Garrison, Terex Chairman and Chief Executive Officer. “The dedicated Demag® Mobile Cranes team members have made significant contributions to Terex and to the crane industry. The sale is based on strong industrial logic, as the Demag® Mobile
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February 18, 2019
WESTPORT, Conn., Feb. 18, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) today announced that it will delay its fourth quarter and year-end 2018 financial results conference call to Tuesday, February 26, 2019 at 8:30 A.M. Eastern Time for non-regulatory, non-accounting related reasons. Pending finalization, Terex expects to announce income from continuing operations of $111.3 million, or $1.45 per share, on net sales of $5.1 billion. These 2018 results include a one-time, non-cash charge of $67 million related to the annuitization of the Company’s U.S. pension plan in the fourth quarter. Income from continuing operations, as adjusted, for the full year 2018 is expected to be $208.6 million, or $2.71 per share. The Glossary at the end of this press release contains further details regarding this non-GAAP measure.
More financial detail and 2019 guidance will be provided in connection with our financial results conference call. The Company will release its financial
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February 12, 2019
WESTPORT, Conn., Feb. 12, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) will host a one hour conference call to review its fourth quarter and year-end 2018 financial results on Tuesday, February 19, 2019 at 8:30 a.m. eastern time. John L. Garrison, Jr., Chairman, President and Chief Executive Officer, will lead the call. The Company will release its financial results prior to the call.
A simultaneous webcast of this call can be accessed at https://investors.terex.com. Participants are encouraged to access the webcast 10 minutes prior to the starting time. The call will also be archived at the above web address. Contact Information: Terex Corporation Brian J. Henry, Senior Vice President Business Development & Investor Relations (203) 222-5954 brian.henry@terex.com https://investors.terex.com About Terex:
Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer
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February 04, 2019
WESTPORT, Conn., Feb. 04, 2019 (GLOBE NEWSWIRE) - Terex Corporation (NYSE:TEX) today announced that its Board of Directors declared a quarterly dividend of $0.11 per share. The dividend is to be paid on March 19, 2019 to all stockholders of record as of the close of business on March 8, 2019.
Contact Information: Terex Corporation Brian J. Henry, Senior Vice President Business Development & Investor Relations (203) 222-5954 brian.henry@terex.com https://investors.terex.com About Terex:
Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on investment. The Company reports in three business segments: Aerial Work Platforms, Cranes, and Materials Processing. Terex delivers lifecycle solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining
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