Terex Corporation (NYSE:TEX) Q1 2021 Earnings Conference Call April 30, 2021 9:00 AM ET Company Participants Randy Wilson - Director-Investor Relations John Garrison - Chairman and Chief Executive Officer John Duffy Sheehan - Senior Vice President and Chief Financial Officer Conference Call Participants Steve Volkmann - Jefferies Mig Dobre - Baird Steven Fisher - UBS Ann Duignan - JPMorgan David Raso - Evercore ISI Jamie Cook - Credit Suisse Timothy Thein - Citigroup Ross Gilardi - Bank of America Brett Lin ...

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 For the quarterly period ended March 31, 2021 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-10702 Terex Corporation (Exact name of registrant as specified in its charter) Delaware 34-1531521 (State of Incorporation) (IRS Employer Identification No.) 45 Glover Ave, 4th F ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) Commission file number 1-10702 TEREX CORPORATION (Exact name of registrant as specified in its charter) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 34-1531521 (State of Incorporation) (IRS Employer Identification No.) 45 Glover Ave, 4th Floor Norwalk Connecticut 06850 For the Fiscal Year Ended December 31, 2020 (Address of principal executive offices) (Zip Code) Re ...

Terex Corporation (NYSE:TEX) Q4 2020 Earnings Conference Call February 12, 2021 9:00 AM ET Company Participants Randy Wilson - Director-Investor Relations John Garrison - Chairman and Chief Executive Officer John Duffy Sheehan - Senior Vice President and Chief Financial Officer Conference Call Participants Stephen Volkmann - Jefferies Mig Dobre - Baird Ann Duignan - JP Morgan Jamie Cook - Credit Suisse David Raso - Evercore Ross Gilardi - Bank of America Jerry Revich - Goldman Sachs Steven Fisher - UBS Rob ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-10702 Terex Corporation (Exact name of registrant as specified in its charter) Delaware 34-1531521 (State of Incorporation) (IRS Employer Identification No.) 200 Nyala Farm Roa ...

Financial Performance - Net sales for Q2 2020 were $690.5 million, a decrease of 47% compared to $1.3 billion in Q2 2019[12] - Gross profit for Q2 2020 was $107.1 million, down from $271.8 million in Q2 2019, reflecting a gross margin of 15.5%[12] - The company reported a net loss of $9.2 million for Q2 2020, compared to a net income of $75.1 million in Q2 2019[12] - Basic earnings per share for continuing operations were $(0.05) in Q2 2020, compared to $1.14 in Q2 2019[12] - Total net sales for the six months ended June 30, 2020, were $1,524.1 million, a decrease of 37.6% compared to $2,443.5 million for the same period in 2019[50] - Net income for the six months ended June 30, 2020, was a loss of $34.1 million, compared to a profit of $8.5 million for the same period in 2019[19] - The total income from operations for the three months ended June 30, 2020, was $7.4 million, down from $126.0 million in the same period of 2019[46] - The company reported a basic loss per share of $0.13 for the three months ended June 30, 2020, compared to earnings of $1.05 per share for the same period in 2019[12] Assets and Liabilities - Total assets decreased to $2.86 billion as of June 30, 2020, down from $3.20 billion at the end of 2019[14] - Current liabilities were $675.6 million as of June 30, 2020, compared to $872.4 million at the end of 2019[14] - Long-term debt, less current portion, remained stable at approximately $1.17 billion as of June 30, 2020[14] - Cash and cash equivalents decreased to $426.0 million from $535.1 million at the end of 2019[14] - Total current assets decreased to $1,707.1 million as of June 30, 2020, from $2,019.7 million at the end of 2019[14] - As of June 30, 2020, total liabilities were $2,063.9 million, down from $2,263.3 million at the end of 2019[14] Inventory and Receivables - The company experienced a significant decline in inventories, which fell to $699.8 million from $847.7 million at the end of 2019[14] - Trade receivables increased by $33.6 million, while inventories rose by $129.0 million, indicating changes in working capital management[19] - The allowance for doubtful accounts increased to $12.6 million as of June 30, 2020, from $9.9 million as of December 31, 2019, reflecting a provision for credit losses of $2.3 million[33] - The total finance receivables balance was $148.2 million as of June 30, 2020, down from $166.2 million as of December 31, 2019[75] Cash Flow and Capital Expenditures - Operating cash flow for the six months ended June 30, 2020, was $12.3 million, a significant improvement from a cash outflow of $48.3 million in the prior year[19] - Capital expenditures for the six months ended June 30, 2020, were $42.1 million, compared to $35.1 million in the same period of 2019[19] - The company repaid $173.0 million in debt during the six months ended June 30, 2020, compared to $1,037.2 million in the same period of 2019[19] Segment Performance - Aerials segment (AWP) net sales were $413.9 million for the three months ended June 30, 2020, down from $870.4 million in the same period of 2019, representing a decline of 52.5%[46] - Materials Processing (MP) segment net sales were $263.6 million for the three months ended June 30, 2020, compared to $430.9 million in the same period of 2019, a decrease of 38.8%[46] - Net sales from Aerial Work Platforms for the six months ended June 30, 2020, were $626.3 million, a decrease from $1,157.2 million in 2019[54] - Specialty Equipment sales for the six months ended June 30, 2020, totaled $238.9 million, down from $391.1 million in the previous year[54] Strategic Actions and Changes - The company completed the disposition of its Demag mobile cranes business on July 31, 2019, which has been classified as discontinued operations[22] - The company has reorganized its operations into two segments: Aerial Work Platforms (AWP) and Materials Processing (MP) following the exit from certain product lines[22] - The Company’s strategic actions included exiting the North American mobile crane product lines, which were significant to its operations[58] Credit Losses and Provisions - The allowance for credit losses increased from $11.0 million on December 31, 2019, to $14.4 million on June 30, 2020, reflecting a rise of 30.9%[70] - The provision for credit losses for the six months ended June 30, 2020, was $3.2 million, compared to $7.7 million for the same period in 2019[72] - The company has offered principal payment relief options to customers impacted by COVID-19, in accordance with the CARES Act[69] Legal Proceedings - The Company is involved in various legal proceedings, with management estimating appropriate reserves for probable losses, which are not expected to materially affect financial statements[109] - The Company anticipates litigation regarding an ICMS tax claim from the state of Sao Paulo, amounting to approximately $19 million, which it plans to contest[112] Financial Instruments and Hedging - The company does not engage in trading or speculative use of financial instruments, focusing instead on managing foreign currency and price risk exposures[83] - Changes in the fair value of derivative financial instruments are recognized in the Condensed Consolidated Statement of Comprehensive Income (Loss), impacting COGS and other income[86] - For the three months ended June 30, 2020, the total loss recognized on derivatives designated as hedges was $(2.1) million, with $(1.5) million reclassified into income[91]

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-10702 Delaware 34-1531521 Terex Corporation (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or (State of Incorporation) (IRS Employer Identification No.) 200 Nyala Farm Road, W ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-10702 TEREX CORPORATION (Exact name of registrant as specified in its charter) Delaware 34-1531521 (State of Incorporation) (IRS Employer Identification No.) 200 Nyala Fa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-10702 Terex Corporation (Exact name of registrant as specified in its charter) Delaware 34-1531521 (State of Incorporation) (IRS Employer Identification No.) 200 Nyala ...

Financial Performance - Net sales for the three months ended June 30, 2019, were $1,306.9 million, an increase from $1,253.0 million in the same period of 2018, representing a growth of 4.5%[14] - Gross profit for the three months ended June 30, 2019, was $271.8 million, slightly down from $278.6 million in the same period of 2018, indicating a decrease of 2.9%[14] - Net income for the three months ended June 30, 2019, was $75.1 million, compared to $57.8 million in the same period of 2018, reflecting an increase of 29.3%[14] - Basic earnings per share for continuing operations was $1.14 for the three months ended June 30, 2019, compared to $1.11 for the same period in 2018, showing a growth of 2.7%[14] - The company reported a comprehensive income of $74.9 million for the three months ended June 30, 2019, compared to a loss of $17.1 million in the same period of 2018[14] - Net income for the six months ended June 30, 2019, was $8.5 million, a decrease from $108.1 million in the same period of 2018, reflecting a significant decline[21] - Total net sales for the six months ended June 30, 2019, were $2,443.5 million, compared to $2,369.6 million for the same period in 2018, reflecting a 3.1% increase[57] Assets and Liabilities - Total current assets as of June 30, 2019, were $2,439.6 million, slightly up from $2,423.0 million as of December 31, 2018[16] - Total liabilities as of June 30, 2019, increased to $2,742.5 million from $2,624.9 million as of December 31, 2018, indicating a rise of 4.5%[16] - Long-term debt, less current portion, was $1,341.7 million as of June 30, 2019, compared to $1,210.6 million as of December 31, 2018, reflecting an increase of 10.8%[16] - Cash and cash equivalents as of June 30, 2019, were $367.5 million, up from $339.5 million as of December 31, 2018, representing an increase of 8.6%[16] - Total assets increased to $3,603.1 million as of June 30, 2019, compared to $3,485.9 million at December 31, 2018, reflecting a growth of 3.4%[16] - Stockholders' equity slightly decreased to $860.6 million from $861.0 million, a decline of 0.5%[16] Cash Flow and Expenditures - Operating cash flow for the six months ended June 30, 2019, was $(48.3) million, compared to $35.6 million in the same period of 2018, indicating a negative cash flow trend[21] - Capital expenditures for the six months ended June 30, 2019, were $(35.1) million, down from $(50.7) million in the same period of 2018[21] - Total cash and cash equivalents at the end of the period increased to $394.6 million from $372.1 million at the beginning of the period[21] Segment Performance - The AWP segment reported net sales of $870.4 million for the three months ended June 30, 2019, an increase from $852.3 million in the same period of 2018, while the MP segment's net sales rose to $365.2 million from $335.2 million[53] - Income from operations for the AWP segment decreased to $86.3 million in Q2 2019 from $111.6 million in Q2 2018, while the MP segment's income increased to $56.3 million from $44.3 million[53] - The Company recorded a total income from operations of $126.0 million for the three months ended June 30, 2019, slightly down from $132.4 million in the same period of 2018[53] Discontinued Operations - The company is in the process of selling its Demag® mobile cranes business for an enterprise value of $215 million, expected to close in Q3 2019[65] - The company reported a loss from discontinued operations of $17.3 million for the three months ended June 30, 2019, compared to a loss of $28.3 million in the same period of 2018[70] - The company reported a loss on the disposition of discontinued operations of $(11.4) million for the six months ended June 30, 2019, compared to $(4.6) million in the same period of 2018[21] Accounting and Compliance - The Company adopted the Lease Standard on January 1, 2019, recognizing approximately $138 million of operating lease liabilities with corresponding right-of-use assets[28][29] - The Company is currently evaluating the impact of the Credit Loss Standard, which will be effective in the first quarter of fiscal year 2020[32][36] - The Company has defined benefit plans in multiple countries, with a net periodic cost of $0.6 million for U.S. pension plans and $0.9 million for non-U.S. pension plans for the six months ended June 30, 2019[110] - The Company was in compliance with the financial covenants of the 2017 Credit Agreement as of June 30, 2019[102] Risk Factors - The company continues to face risks related to global trade conflicts and economic conditions that may impact future performance[10] - Management believes the risk of incurring losses on derivative contracts related to credit risk is unlikely and any losses would be immaterial[97] Inventory and Receivables - Inventories as of June 30, 2019, totaled $863.1 million, a decrease from $918.9 million at December 31, 2018[86] - Trade receivables decreased by $66.0 million during the six months ended June 30, 2019, compared to a decrease of $161.6 million in the same period of 2018[21] - The allowance for credit losses increased from $5.5 million (December 31, 2018) to $12.1 million (June 30, 2019), representing a significant increase of approximately 120%[78] Taxation - The company recognized an income tax expense of $20.3 million on income of $101.9 million for the three months ended June 30, 2019, resulting in an effective tax rate of 19.9%[63] - The effective tax rate for the six months ended June 30, 2019, was 21.6%, down from 22.6% in the same period of 2018[64] Legal and Contingencies - The Company is involved in various legal proceedings, but believes that the likelihood of a material loss beyond amounts accrued is remote[117] - The Company has recorded provisions for estimated losses in circumstances where a loss is probable and the amount is estimable[122]