Terex Sees Revenue Increase, 2014 Outlook Unchanged
Terex Corporation announced net sales of $2.055.1 million - 10.4% higher - than last year's $1.861.5 million, with income from continuing operations of $87.8 million, compared to adjusted income of $74.8 million in the second quarter of 2013.
Aerial Work Platforms had a "strong quarter," Construction and the company's Material Handling & Port Solutions segments were in-line with expectations, and Cranes is "making progress," commented Ron DeFeo, Terex Chairman and Chief Executive Officer. "Western Europe and North America were the growth drivers with increases of 35% and 15% respectively, with the rest of world somewhat offsetting these strengths.”
“The Company’s overall outlook for 2014 remains unchanged,” DeFeo added. “We expect continued strength from our AWP segment and improvement from our Cranes and MHPS segments to drive improved performance for the second half of 2014 compared with the first six months. While we see a slightly weaker end-market than we originally anticipated . . . (projecting) net sales of between $7.3 billion and $7.5 billion.”
Click here for the company's news release.