This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Terex Announces Second Quarter 2012 Results

Second Quarter Performance Review

In this press release, Terex refers to various GAAP (U.S. generally accepted accounting principles) and non-GAAP financial measures. These non-GAAP measures may not be comparable to similarly titled measures being disclosed by other companies. Terex believes that this non-GAAP information is useful to understanding its operating results and the ongoing performance of its underlying businesses. Certain financial measures are shown in italics the first time referenced and are described in a Glossary at the end of this press release.

Terex Aerial Work Platforms : Net sales for the AWP segment for the second quarter of 2012 increased $120.0 million, or 24.7%, to $605.7 million versus the second quarter of 2011. The Company continued to see increased replacement-based demand in the North American rental channel for its aerial work platform products. The Australian market also continued to be a relatively strong contributor, due to natural resource based construction spending.

Income from operations in the second quarter of 2012 was $83.2 million, or 13.7% of net sales, as compared to income from operations of $27.4 million, or 5.6% of net sales, during the second quarter of 2011. Income from operations benefited primarily from improved price realization and greater manufacturing productivity due to higher volumes, partially offset by higher input costs.

Terex Construction : Net sales for the Construction segment for the second quarter of 2012 increased $29.1 million, or 8.1%, to $388.8 million versus the second quarter of 2011. Adjusting for the translation effect of foreign currency exchange rates, net sales increased approximately 14% from the comparable prior year period. Compact construction equipment as well as truck and component sales in developing markets, particularly Russia, China and Latin America were significant contributors to the year-over-year increase in sales. The Company continued to see weakness in demand for roadbuilding equipment.

Income from operations in the second quarter of 2012 was $9.6 million, or 2.5% of net sales, as compared to a loss from operations of $6.0 million, or 1.7% of net sales, during the second quarter of 2011. Operating results benefited from improved price realization as well as cost savings initiatives taken in 2011. These were partially offset by an unfavorable product mix.

2 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.70 0.00%
FB $101.91 0.00%
GOOG $683.11 0.00%
TSLA $150.47 0.00%
YHOO $26.76 0.00%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs