October 26, 2023
Sales of $1.3 billion increased 15% year-over-year Income from operations of $163 million, up 35% year-over-year Operating profit margin of 12.7% improved 190bps year-over-year EPS of $1.75 increased 46% year-over-year Raising full-year 2023 EPS outlook to ~$7.05 Terex Corporation (NYSE: TEX) today announced its results for the third quarter 2023. CEO Commentary "We demonstrated strong execution in the third quarter and delivered a 15% increase in sales and a 46% improvement in EPS over the prior year," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. "I want to thank all our dedicated team members for their hard work and continued commitment to our Zero Harm Safety Culture and improving deliveries to our customers and dealers. As a result of continued strong performance, we are raising our full-year 2023 EPS outlook to ~$7.05. We remain confident in our ability to execute on our strategy to deliver long-term shareholder value." Third Quarter Operational and
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October 24, 2023
Terex Corporation (NYSE: TEX) today announced the publication of its 2023 Sustainability Report , the Company's fourth annual report. In the 2023 report, Terex provides expanded coverage and case studies of its sustainability commitment to team members, customers, investors, and the community at large. It details how sustainability is integral to Terex's strategic business priorities, including product innovation and solutions that enable its customers to operate in safe and sustainable ways, and the practices that Terex has implemented at its locations that reduce negative impacts on the environment. Click here to access the 2023 Terex Sustainability Report. Terex concurrently released its sustainability strategy with the report. Stacey Babson Kaplan, Senior Vice President, Chief Sustainability & Compliance Officer, said: "Our sustainability strategy focuses on our products, solutions, and team members, and being good stewards of the environment. Our sustainability initiatives,
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October 17, 2023
John L. Garrison, Jr. to retire as Chairman and CEO effective January 1, 2024 Simon Meester, current President Terex Aerial Work Platforms, named next CEO Joshua Gross named next President Genie Raises Full Year 2023 Outlook Terex Corporation (NYSE: TEX) today announced that John L. Garrison, Jr. is retiring as Chairman and Chief Executive Officer and a member of the Board of Directors, effective January 1, 2024. Garrison will be succeeded by Simon Meester, current President Terex Aerial Work Platforms, as the Company's President and Chief Executive Officer. Meester will also join the Company's Board. Garrison will work closely throughout the remainder of 2023 with Meester to ensure a seamless and orderly transition of responsibilities. Joshua Gross, current Genie Vice President of Global Strategy and Product Management, will be promoted to President Genie. Garrison will continue as a consultant for Terex after January 1, 2024 through June 30, 2024. David Sachs, currently lead
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October 16, 2023
Terex Corporation (NYSE: TEX) will host a conference call to review its third quarter 2023 financial results on Friday, October 27, 2023 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 26, 2023. 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 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 impact on the environment including
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October 12, 2023
Terex Corporation (NYSE: TEX) announced that its Board of Directors declared a quarterly dividend of $0.17 per share. The dividend is to be paid on December 19, 2023 to all stockholders of record as of the close of business on November 9, 2023. 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 impact on the environment 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
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September 05, 2023
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at the Jefferies Industrials Conference. They will speak at 11:30 AM ET on Thursday, September 7, 2023. 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 impact on the environment 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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August 24, 2023
Terex Corporation (NYSE: TEX) today announced that Seun Salami has been appointed to the Company's Board of Directors. Mr. Salami currently serves as the Executive Vice President and Chief Financial Officer of Nuveen, a global asset management firm. Mr. Salami joined TIAA, Nuveen's parent company, in May of 2018 as corporate controller, and later served as both TIAA's chief accounting officer and principal financial officer of TIAA Real Estate Account. "Seun Salami will be an excellent addition to our Board of Directors," commented John L. Garrison, Jr., Terex Chairman and CEO. "Seun is an executive with a successful track record of leading multifunctional teams from finance and operations to deliver strong results for global organizations." Prior to joining TIAA/Nuveen, Mr. Salami was Executive Vice President and Global Controller, Corporate Solutions at Jones Lang LaSalle Inc. (JLL), a Fortune 500 global real estate company. Prior to JLL, he spent over eleven years at Deloitte
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August 01, 2023
Sales of $1.4 billion increased 30% year-over-year Income from operations of $210 million, up 102% year-over-year Operating profit margin of 15.0% improved 540bps year-over-year EPS of $2.35 more than doubled year-over-year Raising full-year 2023 EPS outlook to ~$7.00 Terex Corporation (NYSE: TEX) today announced its results for the second quarter 2023. CEO Commentary "The Terex team delivered another quarter of outstanding performance" said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. "I want to thank our team members for their continued commitment to our Zero Harm safety culture and for improving deliveries to our customers and dealers. We successfully overcame supply chain challenges to deliver a 30% increase in sales over the prior year. Our team delivered innovative new products combined with disciplined pricing, expense management, and manufacturing efficiency initiatives to improve operating margins by 540 basis points. As a result of the team's exceptional
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July 19, 2023
Terex Corporation (NYSE: TEX) will host a conference call to review its second quarter 2023 financial results on Wednesday, August 2, 2023 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 1, 2023. 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 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 impact on the environment including
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July 11, 2023
Terex Corporation (NYSE: TEX) announced that its Board of Directors declared a quarterly dividend increase of 13% to $0.17 per share. "We are pleased to provide a second dividend increase to our shareholders this year after announcing a 15% increase in February bringing the total dividend increase to 31%. This latest increase reflects our continued confidence in the Company's strong financial position and future growth prospects," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. The dividend is to be paid on September 19, 2023 to all stockholders of record as of the close of business on August 14, 2023. 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 impact on the environment
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June 01, 2023
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in fireside chats at several industrial investor conferences in June, including the Stifel 2023 Cross Sector Insight Conference, the Deutsche Bank Global Industrials, Materials & Building Products Conference and the Wells Fargo 2023 Industrials Conference. Stifel 2023 Cross Sector Insight Conference Tuesday, June 6th at 10:55 AM ET Deutsche Bank Global Industrials, Materials & Building Products Conference Wednesday, June 7th at 2:40 PM ET Wells Fargo 2023 Industrials Conference Wednesday, June 14th at 10:30 AM ET The live webcasts 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.
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May 18, 2023
Terex Corporation (NYSE: TEX) announced that its Board of Directors declared a quarterly dividend of $0.15 per share. The dividend is to be paid on June 20, 2023 to all stockholders of record as of the close of business on June 6, 2023. 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 impact on the environment 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
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May 04, 2023
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at the Goldman Sachs Industrials and Materials Conference. They will speak at 11:35 AM ET on Tuesday, May 9, 2023. 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 impact on the environment 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
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May 01, 2023
Sales of $1.2 billion increased 23% year-over-year, 27% on FX neutral basis Total backlog remained strong at $4.1 billion Income from operations of $148 million, up 98% year-over-year Operating profit margin of 12.0% improved 460bps year-over-year EPS of $1.60 more than doubled year-over-year Raising full-year 2023 EPS outlook to a range of $5.60 to $6.00 Terex Corporation (NYSE: TEX) today announced its results for the first quarter 2023. CEO Commentary "We entered 2023 with significant momentum as we continued to successfully execute against our growth strategy amidst elevated macroeconomic volatility and lingering supply chain constraints," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. "I would like to thank our team members for their dedication to our Zero Harm safety culture and their efforts in serving our customers and dealers. We delivered strong first quarter results, with sales growing 23%, operating margin expansion of 460bps, and EPS more than
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April 13, 2023
Terex Corporation (NYSE: TEX) will host a conference call to review its first quarter 2023 financial results on Tuesday, May 2, 2023 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 Monday, May 1, 2023. 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 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 impact on the environment including electric and
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March 08, 2023
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at the J.P. Morgan Industrials Conference. They will speak at 4:30 PM ET on Tuesday, March 14, 2023. 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 impact on the environment 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
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March 02, 2023
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at the 15th Annual Evercore ISI Industrial Conference. They will speak at 10:20 AM ET on Wednesday, March 8, 2023. 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 impact on the environment 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
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February 17, 2023
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 11:30 AM ET on Thursday, February 23, 2023. 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 impact on the environment 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
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February 16, 2023
Terex Corporation (NYSE: TEX) announced today that company leadership will participate in a fireside chat at Citi's 2023 Global Industrial Tech and Mobility Conference. They will speak at 2:40 PM ET on Wednesday, February 22, 2023. 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 impact on the environment 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
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February 09, 2023
Q4 sales of $1.2 billion increased 23% year-over-year, 31% on FX neutral basis Q4 income from operations of $121 million, up 73% year-over-year Q4 operating profit margin of 9.9% improved 290 bps year-over-year Q4 EPS of $1.34, up 63% year-over-year Full-year sales of $4.4 billion increased 14% year-over-year, 20% on FX neutral basis Full-year income from operations of $420 million up 28% year-over-year Full-year EPS of $4.32 up 41% year-over-year Backlog grew 22% year-over-year to $4.1 billion 2023 Outlook: Sales of $4.6 to $4.8 billion and EPS of $4.60 to $5.00 Terex Corporation (NYSE: TEX) today announced its results for the fourth quarter and full-year 2022. CEO Commentary "The fourth quarter marked an excellent finish to a strong year for Terex. We successfully navigated complex global macro dynamics to deliver significant revenue and earnings growth. I would like to thank the Terex team members for their hard work, dedication, and resilience in managing through this environment.
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February 09, 2023
Terex Corporation (NYSE: TEX) announced that its Board of Directors declared a quarterly dividend of $0.15 per share. "We are pleased to provide a 15% increase to our shareholders. This increase reflects our continued confidence in the Company's strong financial position and future growth prospects," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. The dividend is to be paid on March 20, 2023 to all stockholders of record as of the close of business on March 9, 2023. Forward Looking Statements Certain information in this press release includes forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act") and the Private Securities Litigation Reform Act of 1995) regarding future events or our future financial performance that involve certain contingencies and uncertainties, including those discussed in our Annual Report on Form 10-K for the year ended December 31,
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February 07, 2023
Terex Corporation (NYSE: TEX) today announced it has made an equity investment in Apptronik, Inc. ("Apptronik"), an Austin-based company specializing in the development of versatile, mobile robotic systems whose goal is to bring forth the next generation of robots that will change the way we live and work. Separate from the equity investment, the two companies have entered into a co-development agreement to work together to create potential robotic applications for Terex products. "Multiple trends are converging to drive adoption of human-centered robots in everyday applications and Apptronik is well positioned to capitalize on this emerging trend," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. Apptronik's co-founders have worked on some of the most advanced human-centered systems in the world. This includes the NASA Valkyrie Robot for the DARPA Robotics Challenge. Other Apptronik projects include Astra, an upper-body humanoid robot that has state-of-the-art
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January 18, 2023
Terex Corporation (NYSE: TEX) will host a conference call to review its fourth quarter and year-end 2022 financial results on Friday, February 10, 2023 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 9, 2023. 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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