Terex Reports Third Quarter 2024 Results

Terex Corporation reported a 6% decline in net sales for the third quarter of 2024, posting $1.212 billion compared to $1.290 billion in Q3 2023. This decrease was mainly driven by a drop in sales within the Materials Processing division, which saw a year-over-year decrease of $97 million. Despite this, the Aerial Work Platforms division experienced modest growth, with net sales rising by 2.4%.

The company's income from operations also saw a decrease, falling to $122 million, or 10.1% of net sales, from $163 million, or 12.6%, in the previous year. The net income from continuing operations decreased from $119 million, or $1.75 per share, in Q3 2023 to $88 million, or $1.31 per share. However, Terex’s return on invested capital remained strong at 23.7%, above its cost of capital, reflecting its continued financial stability.
Additionally, Terex completed the acquisition of Environmental Solutions Group (ESG) in October, enhancing its portfolio in the waste and recycling markets. This acquisition is expected to provide significant synergies and help reduce the company’s cyclical exposure, offering a more stable and sustainable growth trajectory moving forward. The company’s leadership expressed confidence in its ability to align production with demand and improve profitability in the coming quarters