WESTPORT, Conn.--(BUSINESS WIRE)--Feb. 3, 2005--TEREX Corporation
(NYSE: TEX), in response to market rumors concerning management's 2005
outlook for its businesses, today announced preliminary guidance as to
its 2005 revenue and earnings per share. Terex management estimates
that its 2005 revenues will be in the range of $5.4 to $5.6 billion,
with earnings per share in the range of $3.40 to $3.60.
Ronald M. DeFeo, Chairman and Chief Executive Officer, commented,
"As previously reported, many of our businesses are experiencing
increased demand and we expect that demand to continue in 2005. But as
I have also previously stated, the challenges of supplier issues,
particularly steel pricing, continue to have an effect on our
business. However, we expect to see the positive impact of some of the
already announced price increases in the near term, and between
increased prices and better purchasing, we anticipate that 2005 will
be a more normal year where volume leverage can be turned into margin
improvements."
A more detailed discussion of management's 2005 performance
outlook for Terex's businesses will be provided in conjunction with
the announcement of Terex's operating results for the fourth quarter
and fiscal year 2004.
Safe Harbor Statement
The above contains forward-looking statements based on Terex's
current expectations and projections about future events. Because
forward-looking statements involve risks and uncertainties, actual
results could differ materially. Such risks and uncertainties, many of
which are beyond Terex's control, include among others: Terex's
significant amount of debt and its need to comply with restrictive
covenants contained in Terex's debt agreements; Terex's continued
access to capital and ability to obtain parts and components from
suppliers on a timely basis at competitive prices; Terex's businesses
are very competitive and may be affected by pricing, product
initiatives and other actions taken by competitors; the effects of
changes in laws and regulations; Terex's business is international in
nature and is subject to changes in exchange rates between currencies,
as well as international politics; the sensitivity of construction,
infrastructure and mining activity and products produced for the
military to interest rates and government spending; the retention of
key management personnel; the ability of suppliers to timely supply
Terex parts and components at competitive prices; the financial
condition of suppliers and customers, and their continued access to
capital; compliance with applicable environmental laws and
regulations; Terex's ability to file its periodic reports with the SEC
on a timely basis; and other factors, risks, uncertainties more
specifically set forth in Terex's public filings with the SEC. Actual
events or the actual future results of Terex may differ materially
from any forward looking statement due to those and other risks,
uncertainties and significant factors. The forward-looking statements
herein speak only as of the date of this release. Terex expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statement included in this
release to reflect any changes in Terex's expectations with regard
thereto or any changes in events, conditions, or circumstances on
which any such statement is based.
Terex Corporation is a diversified global manufacturer with 2003
net sales of $3.9 billion. Terex operates in five business segments:
Terex Construction, Terex Cranes, Terex Aerial Work Platforms, Terex
Materials Processing & Mining, and Terex Roadbuilding, Utility
Products and Other. Terex manufactures a broad range of equipment for
use in various industries, including the construction, infrastructure,
quarrying, recycling, surface mining, shipping, transportation,
refining, utility and maintenance industries. Terex offers a complete
line of financial products and services to assist in the acquisition
of Terex equipment through Terex Financial Services. More information
on Terex can be found at www.terex.com.
Terex Corporation
500 Post Road East, Suite 320, Westport, Connecticut 06880
Telephone: (203) 222-7170, Fax: (203) 222-7976, www.terex.com
CONTACT: Terex Corporation, Westport
Tom Gelston, 203-222-5943
SOURCE: Terex Corporation