December 19, 2022
Terex Corporation (NYSE: TEX) today announced that its Board of Directors authorized a new share repurchase program of up to $150 million. The new authorization is in addition to the share repurchase program announced in July 2018, under which the Company has approximately $43 million remaining. John L. Garrison, Terex Chairman and Chief Executive Officer, stated, "We are pleased to expand our share repurchase program based on the strength of our balance sheet and expectations for future free cash flow generation as outlined at our recent investor day. The new $150 million share repurchase authorization is consistent with our disciplined capital allocation strategy and demonstrates our continued commitment to offset dilution and opportunistically return capital to shareholders." The timing of the share repurchase program will be based on available liquidity, cash flows and general market conditions. The repurchase program may be executed through various methods, including open market
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December 13, 2022
Terex Corporation (NYSE: TEX) will host an Investor Day today at the New York Stock Exchange, starting at 10:00 AM ET. At the event, senior management will provide an update on the business, including the results of its transformation and outline its profitable growth strategy. "I am proud of our team for executing our strategy and solidifying our position as a global industry leader," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. "Our continued commitment to operational excellence, as well as investments in new technologies and innovative solutions, has driven consistent profitability and superior returns through the economic cycle. I am incredibly excited about the next chapter of growth for Terex as we are well-positioned to capitalize on our transformed portfolio and benefit from durable megatrends, delivering value for our customers and shareholders." Event Overview During today's event, members of Terex's leadership team will outline the drivers
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December 12, 2022
Terex Corporation (NYSE: TEX) has been named to Newsweek's list of America's Most Responsible Companies 2023. This prestigious award is presented by Newsweek and Statista Inc., the statistics portal and industry-ranking provider. The awards list was announced on December 7, 2022 and can be viewed on Newsweek's website . "Terex has long maintained a strong focus on Environment, Social and Governance (ESG) priorities, and the Company continues to expand and accelerate our initiatives in these key areas," said John L. Garrison, Jr., Chairman, President and Chief Executive Officer. Click here to review the Terex 2022 ESG Report, recently published. It illustrates Terex's commitment to sustainability, safety, operating ethically, DEI, and many other dimensions of ESG. The Company is highly engaged in the communities where it operates, and its stated "Purpose" is to help improve the lives of people around the world. "The list recognizes the top 500 most responsible companies in the United
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December 08, 2022
Terex Corporation (NYSE: TEX) announced that Stacey Babson Kaplan has been promoted to Senior Vice President, Chief Sustainability and Compliance Officer of Terex Corporation, effective immediately. With this expansion of duties, she will add Sustainability to her longstanding role heading Ethics & Compliance for the Company. She serves on the Terex Executive Leadership Team and the Environmental, Social and Governance Executive Steering Committee, reporting to John L. Garrison, Jr., Chairman, President and Chief Executive Officer. "Stacey's new assignment acknowledges her significant and growing role in overseeing Terex's initiatives in ESG," Mr. Garrison said. "Terex has long been highly active in ESG activities, and Stacey is helping us take this commitment to an even higher level." Ms. Babson Kaplan joined Terex in 2002 as Corporate Counsel, Human Resources Compliance. In 2005, she was appointed Vice President, Deputy General Counsel, Employment & Global Diversity. She was
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November 29, 2022
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at Credit Suisse's 10th Annual Global Industrials Conference. They will speak at 1:15 PM ET on Thursday, December 1, 2022. The live webcast will be accessible on the Terex Investor Relations website at https://investors.terex.com . About Terex Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide.
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November 14, 2022
Terex Corporation (NYSE: TEX) today announced it 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 will feature presentations and a Q&A session with members of the management team, including John Garrison, Chairman & Chief Executive Officer, and Julie Beck, Senior Vice President, Chief Financial Officer. To register for the in-person event (by invitation only) or watch the webcast live, please click here . A replay of the event will be available following the conclusion of the broadcast and will be accessible on the Terex Investor Relations website at https://investors.terex.com . About Terex Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their
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November 11, 2022
Terex Corporation (NYSE: TEX) today announced publication of its 2022 Environmental, Social and Governance (ESG) Report . The report details Terex's commitment to stakeholders and how ESG is integral to the Company's strategic priorities. "Terex has been dedicated to ESG for many years, but we believe our 2022 report is our most robust to date, covering our goals and the progress we are making to create more sustainable outcomes for our team members, customers, investors and communities," said Terex Chairman and CEO John L. Garrison, Jr. Highlights from Terex's 2022 ESG report include : ESG Materiality Assessment Results Five ESG areas identified as most critical to Terex and a broad range of external stakeholders Innovation of Environmentally Friendly Products and Products Supporting Safe Work Practices First to market with an all-electric utility truck Approximately 60% of MP and 70% of AWP product offerings are electric or hybrid Additional recycling offerings supporting the
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November 10, 2022
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at Deutsche Bank's Industrials Conference. They will speak at 7:55 AM ET on Tuesday, November 15, 2022. The live webcast will be accessible on the Terex Investor Relations website at https://investors.terex.com . About Terex Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with
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November 07, 2022
Terex Corporation (NYSE: TEX) announced today that company leadership will participate at Baird's 2022 Global Industrial Conference on Wednesday, November 9, 2022. The presentation will be accessible on the Terex Investor Relations website at https://investors.terex.com . About Terex Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers through all stages of the product life
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October 27, 2022
Sales of $1.1 billion increased 13% year-over-year, 21% on FX neutral basis Total backlog grew 33% year-over-year to $3.9 billion Income from operations of $121 million, up 63% year-over-year Operating profit margin of 10.8% improved 330 bps year-over-year EPS of $1.20, up 79% year-over-year Raising full-year 2022 EPS outlook to a range of $4.00 to $4.20 Terex Corporation (NYSE: TEX) today announced its results for the third quarter 2022. CEO Commentary "We are pleased with our strong financial performance in the quarter as a result of continued progress on our strategy and the relentless focus of our team members to deliver our products and solutions to customers and dealers," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. "We grew sales 21% when adjusting for FX rates and ended the quarter with total backlog of $3.9 billion, an increase of 33% year-over-year and a clear indication of the strength of demand from our customers." "We remain focused on executing
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October 13, 2022
Terex Corporation (NYSE:TEX) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on December 19, 2022 to all stockholders of record as of the close of business on November 10, 2022. About Terex Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers through all stages of the product life cycle, from initial
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October 11, 2022
Terex Corporation (NYSE: TEX) will host a conference call to review its third quarter 2022 financial results on Friday, October 28, 2022 at 8:30 a.m. Eastern Time. John L. Garrison, Jr., Chairman and Chief Executive Officer, and Julie Beck, Senior Vice President and Chief Financial Officer, will host the call. The Company's financial results will be issued and available at https://investors.terex.com after the market close on Thursday, October 27, 2022. Participants are encouraged to access the webcast 15 minutes prior to the starting time. The webcast will be available for replay at https://investors.terex.com . About Terex: Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including
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August 02, 2022
Sales of $1.1 billion increased 4% year-over-year, 9% on FX neutral basis, driven by strong growth in Materials Processing Backlog growth of 51% year-over-year to $3.5 billion Operating margin of 9.6% improved sequentially by 220 bps EPS of $1.07 on improving price / cost dynamics Raising full-year 2022 EPS outlook to $3.80 to $4.20 Repurchased $61 million of shares in second quarter Terex Corporation (NYSE: TEX) today announced its results for the second quarter 2022. CEO Commentary "We are pleased with our solid financial performance in the quarter as a result of continued execution of our strategy and relentless focus on delivering for our customers and dealers," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. "We grew sales 9% when adjusting for FX rates and ended the quarter with backlog of $3.5 billion, an increase of 51% year-over-year, emphasizing sustained strong demand from our customers." "We are proud of our execution this quarter amidst global
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August 02, 2022
Genie and Terex Corporation are excited to announce that Terex is making a Series A investment in Acculon Energy, a Columbus, Ohio-based engineering and connectivity company focused on developing the next generation of electrification solutions for non-automotive equipment applications. Since its founding more than 55 years ago, Genie, which is owned by Terex, has been a leader in developing, growing and evolving the aerials industry. Acculon, through its founders, has 13 years of experience operating at the forefront of advanced battery technology solutions. By partnering with Acculon, Genie is reinforcing its role as a leader in the electrification of the industry — now and into the future. "For decades, Genie has been a leader in developing and refining industry-specific technologies to electrify aerial equipment. Now, as the global construction industry gears up to get to the next level of emissions reduction, Genie is excited to be teaming with Acculon," said Simon Meester, Genie
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August 01, 2022
Terex Materials Processing (MP), a global leader in aggregate, environmental, concrete, lifting, and handling machinery, today announced the acquisition of the Canadian company ProAll, a specialist producer of mobile volumetric concrete mixers. ProAll's volumetric mixers provide make-to-order, mobile concrete delivery that eliminate concerns over delivery time between a concrete plant and a job site by delivering ingredients that are mixed locally and to the exact specifications of each job. The addition of these products will enable Terex to expand its presence in US concrete markets, where ProAll joins Terex Advance, the US industry leader in front discharge mixer trucks, and Terex Bid-Well, the US leader in roller pavers for bridge and canal work, as businesses in the MP portfolio. ProAll also sells to non-US markets, adding a new dimension to the current portfolio and creating significant new opportunities for international growth. Kieran Hegarty, President Terex Materials
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July 13, 2022
Terex Corporation (NYSE:TEX) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on September 19, 2022 to all stockholders of record as of the close of business on August 12, 2022. About Terex Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers through all stages of the product life cycle, from initial
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July 12, 2022
Terex Corporation (NYSE: TEX) will host a conference call to review its second quarter 2022 financial results on Wednesday, August 3, 2022 at 8:30 a.m. Eastern Time. John L. Garrison, Jr., Chairman and Chief Executive Officer, and Julie Beck, Senior Vice President and Chief Financial Officer, will host the call. The Company's financial results will be issued and available at https://investors.terex.com after the market close on Tuesday, August 2, 2022. Participants are encouraged to access the webcast 15 minutes prior to the starting time. The webcast will be available for replay at https://investors.terex.com . About Terex: Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including
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June 06, 2022
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at Stifel's 2022 Cross Sector Insight Conference. They will speak at 9:10 AM ET on Wednesday, June 8, 2022. The live webcast will be accessible on the Terex Investor Relations website at https://investors.terex.com . About Terex Terex Corporation is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide.
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May 19, 2022
Terex Corporation (NYSE: TEX) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on June 21, 2022 to all stockholders of record as of the close of business on June 6, 2022. About Terex Terex Corporation is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers through all stages of the product life cycle,
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April 28, 2022
Sales of $1 billion increased 16% year-over-year Record backlog of $3.5 billion as customer demand remains strong Cost discipline with 11.1% SG&A percent of sales; Decreased spending by $3 million Operating margin improved to 7.4% EPS of $0.74 per share; Up 32% year-over-year Reaffirming full-year 2022 EPS outlook of $3.55 to $4.05 Terex Corporation (NYSE: TEX) announced first quarter 2022 income from continuing operations of $52.3 million, or $0.74 per share, on net sales of $1.0 billion. In the first quarter of 2021, the reported income from continuing operations was $39.7 million, or $0.56 per share, on net sales of $864.2 million. "The team delivered solid financial results for the quarter considering the current operating environment," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. "We continue to experience global supply chain disruptions and significant inflationary pressures due to the pandemic and geopolitical risks. Our team members are focused on
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April 25, 2022
Terex (NYSE: TEX) today announced the acquisition of Steelweld, a manufacturer of heavy fabrications based in Northern Ireland. The purchase of Steelweld supports Materials Processing's growth strategy by increasing fabrication capabilities in Northern Ireland. "We are excited to welcome Steelweld's talented employees to the Terex team. Over the past 40 years, the company has built a highly skilled work force and has a valued reputation for high levels of quality and service," said John L. Garrison, Jr., Terex Corporation Chairman and Chief Executive Officer. Kieran Hegarty, Terex Materials Processing President continued, "Steelweld's expertise in heavy fabrications will provide additional knowledge and talent to support the growth of Terex Materials Processing." About Terex Terex Corporation is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing,
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April 07, 2022
Terex Corporation (NYSE: TEX) will host a conference call to review its first quarter 2022 financial results on Friday, April 29, 2022 at 8:30 a.m. Eastern Time. John L. Garrison, Jr., Chairman and Chief Executive Officer, and Julie Beck, Senior Vice President and Chief Financial Officer, will host the call. The Company's financial results will be issued and available at https://investors.terex.com after the market close on Thursday, April 28, 2022. Participants are encouraged to access the webcast 15 minutes prior to the starting time. The webcast will be available for replay at https://investors.terex.com . About Terex: Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that
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March 14, 2022
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at J.P. Morgan's 2022 Industrials Conference. They will speak at 1:20 PM ET on Thursday, March 17, 2022. The live webcast will be accessible on the Terex Investor Relations website at https://investors.terex.com . About Terex Terex is a global manufacturer of aerial work platforms and materials processing machinery. We design, build and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers through
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February 25, 2022
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at the Evercore ISI Industrial Conference. They will speak at 2:20 PM ET on Tuesday, March 1, 2022. The live webcast will be accessible on the Terex Investor Relations website at https://investors.terex.com . About Terex Terex is a global manufacturer of aerial work platforms and materials processing machinery. We design, build and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers through all
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February 15, 2022
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at the Barclays Industrial Select Conference. They will speak at 8:00 AM ET on Wednesday, February 23, 2022. The live webcast will be accessible on the Terex Investor Relations website at https://investors.terex.com . About Terex Terex is a global manufacturer of aerial work platforms and materials processing machinery. We design, build and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers
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February 15, 2022
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at Citi's 2022 Global Industrial Tech and Mobility Conference. They will speak at 3:30 PM ET on Wednesday, February 23, 2022. The live webcast will be accessible on the Terex Investor Relations website at https://investors.terex.com . About Terex Terex is a global manufacturer of aerial work platforms and materials processing machinery. We design, build and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage
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February 10, 2022
- Fourth quarter earnings per share of $0.82 up significantly year-over-year
- Fourth quarter operating margin of 7.0% improved 300 basis points year-over-year
- Full year sales of $3.9 billion increased 26% year-over-year
- Full year operating margins of 8.4% improved 620 basis points year-over-year
- Repaid $503 million of debt in 2021 resulting in net leverage of 1.1x
- 2022 Outlook: Sales of $4.1 to $4.3 billion and earnings per share of $3.55 to $4.05 Terex Corporation (NYSE: TEX) reported fourth quarter 2021 income from continuing operations of $58.0 million, or $0.82 per share, on net sales of $990.1 million. In the fourth quarter of 2020, reported income from continuing operations was $14.9 million, or $0.21 per share, on net sales of $786.7 million. For the full year 2021, Terex reported income from continuing operations of $217.5 million, or $3.07 per share, on net sales of $3.9 billion compared with income from continuing operations
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February 10, 2022
Terex Corporation (NYSE:TEX) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on March 21, 2022 to all stockholders of record as of the close of business on March 9, 2022. About Terex Terex is a global manufacturer of aerial work platforms and materials processing machinery. We design, build and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers through all stages of the product life cycle, from initial specification and financing
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February 01, 2022
Terex (NYSE: TEX) today announced its Series B investment in Viatec, Inc., a South Carolina-based manufacturer of plug-and-play electronic power take-off ("PTO") systems that support electrification of utility fleets. Terex is the lead investor in the Series B investment round along with other participants including Duke Energy. In conjunction with this investment, a Terex representative will fill one of five seats on Viatec's board. Terex Utilities has actively worked with Viatec since 2019, focusing on simple and reliable plug-in PTO solutions for the electric utility industry. Terex offers SmartPTO on a variety of its Utilities products, which eliminates noise and carbon emissions, lowers operating costs, and extends the life of utility equipment by reducing engine operating hours. "Viatec has developed an electrification solution for utility customers that is highly effective and easy to use. Our investment in Viatec will enable the company to scale production and
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January 21, 2022
Terex Corporation (NYSE: TEX) will host a conference call to review its fourth quarter and year-end 2021 financial results on Friday, February 11, 2022 at 8:30 a.m. Eastern Time. John L. Garrison, Jr., Chairman and Chief Executive Officer, and Julie Beck, Senior Vice President and Chief Financial Officer, will host the call. The Company's financial results will be issued and available at https://investors.terex.com after the market close on Thursday, February 10, 2022. Participants are encouraged to access the webcast 15 minutes prior to the starting time. The webcast will be available for replay at https://investors.terex.com . About Terex: Terex is a global manufacturer of aerial work platforms and materials processing machinery. We design, build and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex products and solutions enable customers to reduce their environmental impact
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