Guarantees Please refer to Note A – "Basis of Presentation" in the accompanying Condensed Consolidated Financial Statements for a summary of recently issued accounting standards. (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Terex Corporation (Exact name of registrant as specified in its charter) Delaware 34-1531521 (State of Incorporation) (IRS Employer Identification No. ...

Financial Data and Key Metrics Changes - The company reported second quarter GAAP EPS of $2.08 per share, with adjusted EPS of $2.16 per share, reflecting a slight decrease in net sales to approximately $1.4 billion, down 1.5% year-over-year [24][52] - Free cash flow for the second quarter was $42 million, which included one-time proceeds from the sale of the Oklahoma City facility [24][52] - The current backlog stands at $2.4 billion, approximately 2x historical norms, indicating strong demand despite market fluctuations [49] Business Line Data and Key Metrics Changes - The AWP segment generated sales of $882 million, up nearly 7% year-over-year, driven by higher demand in North America [50] - The MP segment reported sales of $499 million, impacted by market pressures in Europe, particularly in the German-based Fuchs materials handling business [54] - AWP's operating profit was $134 million, while MP's operating profit was $77 million, with MP maintaining strong operating margins of 15.4% despite challenges [50][54] Market Data and Key Metrics Changes - The U.S. economy shows resilience with GDP outperforming expectations, while the European market remains mixed, with Germany and Italy struggling [33][34] - Emerging markets such as India, Southeast Asia, and Latin America are increasingly adopting the company's products, providing growth opportunities [34] - The company expects demand in the U.S. market to remain robust, with rental customers returning to customary ordering patterns as the operating environment normalizes [43][44] Company Strategy and Development Direction - The company is focused on a strategy of execute, innovate, and grow, aiming for consistent sustainable growth driven by mega trends and federal investments [35][36] - The recent acquisition of ESG is expected to accelerate long-term shareholder value growth and diversify the company's portfolio [41] - The company plans to leverage technology and operational efficiencies to improve margins and financial performance [38][39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term outlook, citing strong market dynamics in the U.S. and the potential for increased activity from infrastructure investments [35][36] - The company anticipates a full-year adjusted EPS range of $7.15 to $7.45, indicating confidence in operational execution and cost management [59] - Management acknowledged ongoing cost inflation in the industry but emphasized transparency with customers regarding pricing strategies [90] Other Important Information - The company has returned $50 million to shareholders through share repurchases and dividends, maintaining a strong financial position [65] - The expected full-year sales forecast has been updated to a range of $5.1 billion to $5.3 billion, with AWP strength offsetting MP weakness [58] - The company is planning capital expenditures of approximately $145 million for the year, primarily related to the Monterrey facility [57] Q&A Session Summary Question: Impact of near-term softening in Europe on pricing - Management aims for price-cost neutrality despite ongoing cost inflation in components like electronics and labor [2][3] Question: Softness in the MP business - The softness is primarily driven by end demand in Europe, with North America showing high fleet productivity [3][11] Question: Concerns about over-earning in MP - Management noted that MP has consistently grown over the past decade and remains optimistic about North American opportunities [10][11] Question: Book-to-bill expectations for AWP - Management expects Q4 book-to-bill to be better than Q3, with discussions for 2025 still in early stages [21][22] Question: Competitive landscape post-EU ruling - Management is encouraged by the EU ruling against dumping, which is expected to create a more level playing field [75][77] Question: Utilization and pricing trends in the U.S. - Utilization remains strong, particularly for products used in mega projects, although there is some divergence in local project performance [78][79] Question: Backlog coverage for sales support - The current backlog provides good coverage for the remainder of the year, with a significant portion already allocated to 2025 [81][84] Question: Price sensitivity and inflation pass-through - Management emphasized transparency with customers regarding cost inflation and the need for disciplined pricing strategies [89][90]

The reported revenue represents a surprise of -2.34% over the Zacks Consensus Estimate of $1.41 billion. With the consensus EPS estimate being $2.03, the EPS surprise was +6.40%. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Net sales- Aerial Work Platforms (AWP) Net sales- Materials Processing & Mining (MP) Net sales- Corp and Oth ...

Over the last four quarters, the company has surpassed consensus EPS estimates three times. Terex shares have added about 15.3% since the beginning of the year versus the S&P 500's gain of 14.5%. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. It will be interesting t ...

NORWALK, Conn., July 30, 2024 /PRNewswire/ -- Terex Corporation (NYSE: TEX), a global manufacturer of materials processing machinery and aerial work platforms, today announced its results for the second quarter 2024. "The Terex team continues to perform at a high level and demonstrated strong execution in the second quarter," said Simon Meester, Terex President and Chief Executive Officer. "The recently announced agreement to purchase Environmental Solutions Group ("ESG") strengthens our portfolio and lever ...

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. For Terex, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.66%. Over the last four quarters, the company has beaten consens ...

Shares of industrial manufacturer Terex Corp. (TEX) jumped Monday after the industrial manufacturer said it has agreed to acquire Dover Corp.'s (DOV) Environmental Solutions Group for $2 billion in cash. Terex will create a new Environmental Solutions segment that includes ESG and its existing Utilities business. Key Takeaways Terex said that the deal adds to its existing businesses by growing its exposure to the growing waste and recycling industry, along with increasing its exposure to the North American ...

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. Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in maintenance, manufacturing, energy, recycling, minerals and materials management, and construction applications. Certain Terex products and solutions enable customers to reduce their impact on the environment inc ...

Terex has been witnessing strong demand for its products across multiple businesses and all major geographies, which is expected to reflect on its upcoming second-quarter 2024 results. Its backlog was $3.1 billion at the end of the first quarter, which was significantly above historical levels. Also, Terex's ongoing efforts to improve efficiency and reduce costs will aid second-quarter earnings. For Terex, the consensus EPS estimate for the quarter has been revised 0.6% lower over the last 30 days to the cu ...

Risk TEX Growth Grade The Thesis Business Overview Last Quarter Performance AWP 1402.3 Ma Backlog trend (Company presentation) TEX's financials (Company presentation) Valuation TEX growth grade (Seeking Alpha) The company's topline growth has moderated significantly in the last few quarters due to persistent weakness in the Europe region, which also impacted the company's margin growth. However, strength across most of the end markets in North America supported the company's overall profitability leading to ...