U.S. Markets closed

Free Research Report as Terex’s Sales Soared 25%; Earnings Rocketed 1,000%

Stock Monitor: Deere Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 30, 2018 / If you want access to our free earnings report on Terex Corp. (NYSE: TEX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TEX. Terex posted its financial results for the first quarter of fiscal year 2018 (Q1 FY18) on May 01, 2018. The American manufacturer Company's quarterly sales and earnings surpassed market estimates for Q1 FY18. In addition, the Company raised its outlook for fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Deere & Company (NYSE: DE), which also belongs to the Industrial Goods sector as the Company Terex. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=DE

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Terex most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=TEX

Earnings Highlights and Summary

For the first quarter 2018, Terex's sales surged 25% to $1.26 billion compared to $1.01 billion in first quarter 2017. Additionally, the ompany posted backlog of 54%. The Company's net sales for the reported quarter outpaced market expectations of $1.12 billion.

In Q1 FY18, Terex's cost of goods sold jumped 21% to $1.03 billion versus $854.6 million in Q1 FY17. The Company aggregated gross profit was $230.9 million in the reported quarter compared to $152.3 million in the year ago comparable period, increasing 52% on a y-o-y basis. The Company incurred selling, general, and administrative (SG&A) expenses of $159.6 million in Q1 FY18 compared to $157.0 million in Q1 FY17.

In the reported quarter, Terex posted income from operations of $71.3 million compared to loss of $4.7 million in prior year's corresponding period.

Terex reported net income of $50.3 million in Q1 FY18 compared to loss of $4.6 million in Q1 FY17. The Company posted earnings per share (EPS) of $0.62 in the reported quarter versus a loss of $0.04 per share in the year ago same quarter. The Company's adjusted EPS rocketed 1,000% to $0.55 in Q1 FY18 compared to $0.05 in Q1 FY17, outperforming market estimates of $0.37 per share.

Terex's Segments Details

Terex operates through three segments: (i) Aerial Work Platforms (AWP); (ii) Cranes; and (iii) Material Processing (MP).

In the reported quarter, the AWP segment generated net sales of $638.9 million compared to $472.4 million in the year-ago corresponding period, increasing 35% on a y-o-y basis. The segment's operating income advanced to $60.1 million in Q1 FY18 compared to $21.7 million in Q1 FY17, primarily driven by increased sales volume, improved factory utilization, and foreign exchange rate changes.

During Q1 FY18, the Cranes segment's net sales improved by 19% to $314.0 million compared to $263.9 million in Q1 FY17, primarily due to higher demand for all terrain cranes, tower cranes, and utility equipment. The segment reported an operating loss $9.7 million in Q1 FY18 compared to loss of $31.9 million in Q1 FY17.

The MP segment added net sales of $303.3 million, up by 21.8% in the reported quarter versus $249.1 million in the comparable quarter last year, primarily strengthen by higher demand for mobile crushing and screening equipment and Fuchs material handlers. The segment recorded an operating income of $39 million in Q1 FY18 versus $25.6 million in Q1 FY17.

Cash Matters

As of March 31, 2018, Terex's cash and cash equivalents stood at $447.9 million compared to $813.9 million as of March 31, 2017. Its long-term debt (less current portion) was $1.08 billion as of March 31, 2018, versus $979.6 million as of December 31, 2017.

In the reported quarter, Terex used $44.4 million of cash in operating activities compared to cash usage of $164.6 million in the prior year's corresponding period. During the first quarter ended March 31, 2018, Terex repurchased approximately 5 million shares at a total cost of $205 million.

Outlook for FY18

For FY18, Terex increased its adjusted EPS guidance to be in range of $2.70-$3.00 from previously quoted $2.35-$2.65. The Company's positive outlook is backed by its first quarter results and capital market actions, and operational improvements over the balance of 2018.

Stock Performance Snapshot

May 29, 2018 - At Tuesday's closing bell, Terex's stock declined 1.08%, ending the trading session at $40.25.

Volume traded for the day: 1.17 million shares.

Stock performance in the last month – up 9.08%; and past twelve-month period – up 22.30%

After yesterday's close, Terex's market cap was at $3.14 billion.

Price to Earnings (P/E) ratio was at 16.60.

The stock has a dividend yield of 0.99%.

The stock is part of the Industrial Goods sector, categorized under the Farm & Construction Machinery industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst. For further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors