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Terex Corp TEX Stock Quote

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Terex Posts Solid Third-Quarter Results In Line With Our Expectations

Dawit Woldemariam Equity Analyst

Analyst Note

| Dawit Woldemariam |

Our $42 fair value estimate remains intact following Terex's third-quarter results. The company reported solid top-line growth of 12.7% year on year, thanks to strong demand across its end markets. In aerial equipment, the story was centered around the replacement cycle. Sales in the segment grew 15.7% year on year to $663 million. Average fleet ages are at elevated levels currently, creating strong demand for Terex's Genie products. The materials processing business saw sales rise 9.4% year on year to $458 million, as demand for aggregates was solid.

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Key Statistics TEX

Company Profile TEX

Business Description

Terex is a global manufacturer of aerial work platforms, materials processing equipment, and specialty equipment, such as material handlers, cranes, and concrete mixer trucks. Its current composition is a result of numerous acquisitions over several decades and a recent shift to focus on its two core segments after divesting a handful of underperforming businesses. The company's remaining segments see heavy demand in nonresidential construction as well as in maintenance, manufacturing, energy, and materials management.

45 Glover Avenue, 4th Floor
Norwalk, CT, 06850
T +1 203 222-7170
Industry Farm & Heavy Construction Machinery
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 8,600

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