Terex (TEX) Tops Q4 EPS by 17c, Revenues Miss

Terex (NYSE: TEX) reported Q4 EPS of $0.36, $0.17 better than the analyst estimate of $0.19. Revenue for the quarter came in at $885 million versus the consensus estimate of $916.96 million.

"Our fourth quarter operating results were generally in-line with our expectations on lower revenue and reflect continued challenging global market conditions for industrial equipment," remarked John L. Garrison, Jr., Terex Chairman and CEO.

“In 2019, we focused on safety, strengthening our balance sheet and investing in our products, manufacturing capability and parts and services. Despite the current industrial equipment market challenges, the longer-term outlook for our businesses remains healthy and points to a promising future for Terex," Mr. Garrison said. "We are encouraged by the adoption of our equipment in emerging markets and are well-positioned to continue to deliver differentiated solutions to our customers.”

Mr. Garrison continued, “we expect customers to remain cautious with their capital expenditure decisions in 2020. We expect full year EPS to be between $1.85 to $2.35 on net sales of approximately $3.9 billion. In addition, we expect full year free cash flow to be approximately $140 million.”

Mr. Garrison concluded, “We remain committed to investing in the development of innovative products and solutions for our customers, while continuously improving our operational performance. We believe this is a strong formula for long-term shareholder value creation."

For earnings history and earnings-related data on Terex (TEX) click here.

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