Terex Corporation (TEX) Q2 2024 Earnings Call Transcript
Terex Corporation (NYSE:TEX ) Q2 2024 Earnings Conference Call July 31, 2024 8:30 AM ET Company Participants Jon Paterson - VP and Treasurer Simon Meester - President and CEO Julie Beck - SVP and CFO Conference Call Participants Stanley Elliott - Stifel Jamie Cook - Truist Securities David Raso - Evercore ISI Jerry Revich - Goldman Sachs Tami Zakaria - JPMorgan Angel Castillo - Morgan Stanley Steve Barger - KeyBanc Capital Markets Operator Greetings, and welcome to the Terex Second Quarter 2024 Results Conference Call. At this time, all participants are in a listen-only mode.
Terex (TEX) Reports Q2 Earnings: What Key Metrics Have to Say
The headline numbers for Terex (TEX) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Terex (TEX) Surpasses Q2 Earnings Estimates
Terex (TEX) came out with quarterly earnings of $2.16 per share, beating the Zacks Consensus Estimate of $2.03 per share. This compares to earnings of $2.35 per share a year ago.
Analysts Estimate Terex (TEX) to Report a Decline in Earnings: What to Look Out for
Terex (TEX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Terex Stock Surges After Buying Dover Unit for $2B
Shares of industrial manufacturer Terex Corp. (TEX) jumped Monday after the industrial manufacturer said it has agreed to acquire Dover Corp.'s (DOV) Environmental Solutions Group for $2 billion in cash.
Strength Seen in Terex (TEX): Can Its 8.5% Jump Turn into More Strength?
Terex (TEX) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Terex Corporation: Current Valuation Does Not Justify This Amazing Company
The company's topline growth moderated in Q1 2024 after delivering strong double-digit growth in 2023. Despite near-term headwinds in Europe, strong backlog and favorable demand in North America should drive sales growth for Terex Corporation in 2024. Volume growth should support margin in the coming quarters, leading to bottom-line growth.
Is The Options Market Predicting A Spike In Terex (TEX) Stock?
Investors need to pay close attention to Terex (TEX) stock based on the movements in the options market lately.
Here's Why You Should Retain Terex (TEX) in Your Portfolio
Terex (TEX) continues to gain from a strong backlog, solid demand levels, focus on the Execute, Innovate, Grow strategy, and the introduction of innovative products.
Zacks Research Research Analysts Lower Earnings Estimates for Terex Co. (NYSE:TEX)
Terex Co. (NYSE:TEX – Free Report) – Zacks Research reduced their Q2 2024 EPS estimates for Terex in a note issued to investors on Thursday, May 16th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $2.03 per share for the quarter, down from their previous estimate of $2.14. The consensus estimate for Terex’s current full-year earnings is $7.09 per share. Zacks Research also issued estimates for Terex’s Q1 2025 earnings at $1.65 EPS, Q2 2025 earnings at $1.94 EPS, Q4 2025 earnings at $1.52 EPS and FY2025 earnings at $6.90 EPS. Other analysts also recently issued reports about the stock. The Goldman Sachs Group upped their price objective on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. UBS Group lowered shares of Terex from a “buy” rating to a “neutral” rating and upped their price target for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. JPMorgan Chase & Co. lowered Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. Citigroup upped their target price on Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Truist Financial initiated coverage on Terex in a research report on Thursday, March 14th. They set a “buy” rating and a $73.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.17. Read Our Latest Report on TEX Terex Stock Performance Shares of TEX opened at $61.16 on Monday. Terex has a one year low of $43.70 and a one year high of $65.89. The stock has a market cap of $4.12 billion, a P/E ratio of 8.10 and a beta of 1.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. The stock has a 50-day moving average of $61.23 and a two-hundred day moving average of $57.47. Terex (NYSE:TEX – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 30.53%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.23 billion. Insider Buying and Selling In related news, insider Kieran Hegarty sold 17,190 shares of Terex stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $58.26, for a total value of $1,001,489.40. Following the sale, the insider now directly owns 200,029 shares in the company, valued at approximately $11,653,689.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Terex news, insider Kieran Hegarty sold 17,190 shares of Terex stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the sale, the insider now owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joshua Gross sold 4,945 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total transaction of $292,397.85. Following the completion of the sale, the insider now owns 21,457 shares of the company’s stock, valued at approximately $1,268,752.41. The disclosure for this sale can be found here. Insiders sold a total of 149,229 shares of company stock worth $9,080,064 in the last 90 days. Insiders own 1.90% of the company’s stock. Institutional Trading of Terex Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Terex by 12.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 7,670 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 851 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Terex by 133.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 71,240 shares of the industrial products company’s stock worth $4,105,000 after purchasing an additional 40,736 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Terex by 4.8% during the third quarter. Teacher Retirement System of Texas now owns 41,717 shares of the industrial products company’s stock worth $2,404,000 after purchasing an additional 1,912 shares during the period. Duality Advisers LP acquired a new position in Terex in the 3rd quarter valued at about $1,825,000. Finally, Principal Financial Group Inc. grew its stake in shares of Terex by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 286,994 shares of the industrial products company’s stock valued at $16,537,000 after buying an additional 7,313 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors. About Terex (Get Free Report) Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.
