Terex reported an 11.6% increase in pro forma sales to $2.2 billion. Adjusted EPS of $1.50 per share was flat year over year because dilution from the equity issued to complete the REV Group transaction consumed the incremental earnings.
Terex is a global manufacturer of aerial work platforms, materials processing equipment, and specialty equipment for the waste, recycling, and utility industries. Its current composition is a result of numerous acquisitions over several decades to focus on a smaller group of light construction and other vocational equipment, having divested a handful of underperforming businesses, particularly in cranes and other lifting equipment. These remaining segments see heavy demand in nonresidential construction (aerial work platforms—40% sales), aggregates/mining (materials processing—30% sales), environmental, waste/recycling and utilities (environmental solutions group—30% sales).