Terex Stories Sturdy Fourth Quarter and Stout twelve months 2021 Outcomes

NORWALK, Conn., Feb. 10, 2022 /PRNewswire/ — Terex Corporation (NYSE: TEX) reported fourth quarter 2021 earnings from persevering with operations of $58.0 million, or $0.82 per allotment, on in finding sales of $990.1 million.  Within the fourth quarter of 2020, reported earnings from persevering with operations used to be $14.9 million, or $0.21 per allotment, on in finding sales of $786.7 million.

For the final twelve months 2021, Terex reported earnings from persevering with operations of $217.5 million, or $3.07 per allotment, on in finding sales of $3.9 billion when put next with earnings from persevering with operations of $9.0 million, or $0.13 per allotment, on in finding sales of $3.1 billion for the final twelve months 2020.

Affords Processing persisted to existing solid operational efficiency handing over running margins of 13.8% within the quarter. AWP’s fourth quarter 2021 results reflected solid international customer search files from and strict fee discipline with running margins bettering 530 foundation components.

“I’m proud of the persisted resilience demonstrated by Terex team individuals to adjust through a annoying running atmosphere.  We delivered an excellent deal improved 2021 results and made growth on our Construct, Innovate and Develop approach,” mentioned Chairman and Chief Government Officer John L. Garrison, Jr.

Julie Beck, Senior Vice President and Chief Monetary Officer, mentioned, “We were ready to generate $125 million of free cash crawl with the hotfoot in 2021. Our solid balance sheet and expected 2022 free cash crawl with the hotfoot generation of $175 to $225 million permits us to fund increase investments, equivalent to our unusual Genie Mexico facility and digitalization initiatives.”

Garrison persisted, “Customer search files from stays solid for our products and companies. The total group stays targeted on overcoming offer disruptions to elevate production and bring for our customers. As a result, we request 2022 sales will be $4.1 to $4.3 billion with EPS of $3.55 to $4.05. We are assured that Terex is effectively positioned to pressure innovation and increase in 2022.”

Non-GAAP Measures and Various Items

Outcomes of operations catch persevering with operations.  All per allotment amounts are on a truly diluted foundation.  A entire review of the quarterly monetary efficiency is contained within the presentation that will accompany the Firm’s earnings conference name.

In this press launch, Terex refers to varied GAAP (U.S. in general current accounting recommendations) and non-GAAP monetary measures.  These non-GAAP measures would possibly possibly per chance per chance now not be similar to in an analogous vogue titled measures being disclosed by other companies.  Terex believes that this non-GAAP files is basically helpful to working out its running results and the ongoing efficiency of its underlying companies. 

The Thesaurus at the head of this press launch accommodates further particulars about this arena.

Convention name

The Firm has scheduled a conference name to study the monetary results on Friday, February 11, 2022 origin at 8: 30 a.m. ET.  John Garrison, Chairman and CEO, and Julie Beck, Senior Vice President and Chief Monetary Officer, will host the resolution.  A simultaneous webcast of this name is likely to be accessed at https://merchants.terex.com.  Participants are impressed  to entry the resolution 10 minutes earlier than the beginning time. The name will furthermore be archived within the Occasion Archive at https://merchants.terex.com.

Forward-Attempting Statements

Obvious files in this press launch entails forward-having a sight statements (interior the which come of Fragment 27A of the Securities Act of 1933, Fragment 21E of the Securities Alternate Act of 1934 and the Internal most Securities Litigation Reform Act of 1995) regarding future events or our future monetary efficiency that involve obvious contingencies and uncertainties, including these mentioned in our Annual Document on Develop 10-Okay for the twelve months ending December 31, 2021, and subsequent studies we file with the U.S. Securities and Alternate Payment once in a whereas, within the sections entitled “Administration’s Dialogue and Diagnosis of Monetary Condition and Outcomes of Operations – Contingencies and Uncertainties.”  Moreover, when incorporated in this press launch the words “would possibly possibly per chance per chance,” “expects,” “ought to serene,” “intends,” “anticipates,” “believes,” “plans,” “projects,” “estimates,” “will” and the negatives thereof and analogous or an analogous expressions are supposed to name forward-having a sight statements.  Alternatively, the absence of these words would now not indicate that the assertion is now not forward-having a sight.  Now we catch basically basically basically based these forward-having a sight statements on present expectations and projections about future events.  These statements will now not be ensures of future efficiency.  Such statements are inherently arena to a diversity of risks and uncertainties that would possibly possibly per chance per chance cause right results to change materially from these reflected in such forward-having a sight statements.  Such risks and uncertainties, many of that are previous our adjust, encompass, amongst others:

• our commercial has been, and ought to serene be further, adversely impacted by international health pandemics such because the outbreak of a unusual tension of coronavirus (“COVID-19”);
• our commercial would possibly possibly be very aggressive and is plagued by our fee structure, pricing, product initiatives and other actions taken by competitors;
• we’re dependent upon third-celebration suppliers, making us at threat of construct shortages and impress increases;
• consolidation interior our customer irascible and suppliers;
• our operations are arena to a series of likely risks that come up from running a multinational commercial, including compliance with altering regulatory environments and political instability;
• a arena topic disruption to 1 among our important facilities;
• our commercial is sensitive to government spending;
• our capacity to combine received companies;
• our commercial is plagued by the cyclical nature of markets we support;
• our want to conform with restrictive covenants contained in our debt agreements;
• our capacity to generate enough cash crawl with the hotfoot to service our debt tasks and efficiency our commercial;
• our capacity to entry the capital markets to get funds and present liquidity;
• the monetary condition of suppliers and customers, and their persisted entry to capital;
• publicity from providing credit rating give a devour to for about a of our customers;
• we would experience losses in contrivance over recorded reserves;
• our commercial is international and arena to changes in replace rates between currencies, commodity impress changes, regional economic prerequisites and replace family individuals;
• our retention of key administration personnel and skilled labor;
• doable work stoppages and other labor issues;
• changes in import/export regulatory regimes, imposition of tariffs, escalation of international replace conflicts and unfairly traded imports, in particular from China, would possibly possibly per chance per chance continue to negatively impact our commercial;
• compliance with altering legal guidelines and regulations, in particular environmental and tax legal guidelines and regulations;
• litigation, product legal responsibility claims and other liabilities;
• our compliance with the United States (“U.S.”) Foreign Nasty Practices Act and an analogous worldwide anti-corruption legal guidelines;
• increased regulatory specialise in privacy and files safety components and expanding legal guidelines;
• our capacity to conform with an injunction and associated tasks imposed by the U.S. Securities and Alternate Payment (“SEC”);
• our capacity to efficiently put into effect our approach;
• disruption or breach in our files technology techniques and storage of sensitive files; and
• other components.

Real events or our right future results would possibly possibly per chance per chance vary materially from any forward-having a sight assertion ensuing from these and other risks, uncertainties and arena topic components.  The forward-having a sight statements contained herein keep up a correspondence handiest as of the date of this press launch.  We expressly disclaim any duty or endeavor to launch publicly any updates or revisions to any forward-having a sight assertion contained in this press launch to catch any alternate in our expectations in regards thereto or any alternate in events, prerequisites or situations on which this sort of assertion is basically basically basically based.

About Terex



Terex is a international manufacturer of aerial work platforms and materials processing equipment.  We construct, make and offers a devour to products mature in constructing, upkeep, manufacturing, energy, minerals and materials administration functions.  Terex products and alternate choices enable customers to cleave serve their environmental impact including electric and hybrid choices that bring restful and emission-free efficiency, products that give a devour to renewable energy, and products that help within the restoration of truly helpful materials from varied kinds of spoil. Our products are manufactured in North The united states, Europe, Australia and Asia and sold worldwide.  We pick with customers through all phases of the product existence cycle, from initial specification and financing to parts and service give a devour to. 

Contact Files



Terex Corporation


Randy Wilson


Director, Investor Family & Company Treasury


203-221-5415

GLOSSARY

In this doc, Terex refers to varied GAAP (U.S. in general current accounting recommendations) and non-GAAP monetary measures.  These non-GAAP measures would possibly possibly per chance per chance now not be similar to in an analogous vogue titled measures disclosed by other companies.  Terex gifts non-GAAP monetary measures in reporting its monetary results to construct merchants with further analytical tools which it believes is basically helpful in evaluating its running results and the ongoing efficiency of its underlying companies.  Terex would now not, nor does it recommend that merchants take into story such non-GAAP monetary measures in isolation from, or as a substitute for, monetary files willing in accordance with GAAP.

The amounts described below are unaudited, are reported in millions of U.S. dollars (with the exception of allotment files and percentages), and are as of or for the length ended December 31, 2021, unless in every other case indicated.

2022 Outlook

The Firm’s 2022 outlook for earnings per allotment is a non-GAAP monetary measure on story of it excludes the impact of likely future acquisitions, divestitures, restructuring, and other odd objects. The Firm is now not ready to reconcile this forward-having a sight non-GAAP monetary measure to its most straight similar forward-having a sight GAAP monetary measures without unreasonable efforts since the Firm is unable to predict with an inexpensive stage of toddle wager the direct timing and impact of such objects. The unavailable files would possibly possibly per chance per chance catch a important impact on the Firm’s full-twelve months 2022 GAAP monetary results. This forward having a sight files affords steerage to merchants in regards to the Firm’s EPS expectations with the exception of wierd objects that the Firm would now not have faith in is reflective of its ongoing operations.

Free Cash Scramble 

The Firm calculates a non-GAAP measure of free cash crawl with the hotfoot.  The Firm defines free cash crawl with the hotfoot as Earn cash equipped by (mature in) running activities, plus (minus) increases (decreases) in Terex Monetary Services finance receivables consisting of sales-kind leases and industrial loans (“TFS Sources”), much less Capital expenditures, in finding of proceeds from sale of capital resources.  The Firm believes that this measure of free cash crawl with the hotfoot affords administration and merchants further truly helpful files on cash generation or use in our necessary operations.  The next table reconciles Earn cash equipped by (mature in) running activities to free cash crawl with the hotfoot (in millions):

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SOURCE Terex Corporation