Terex Corporation reported second-quarter income from continuing operations of US$87.8 million compared to $20.4 million in the same period last year. Excluding the impact of certain items totalling $54.4 million income from continuing operations as adjusted in the second quarter of prior year was $74.8 million. Net sales were $2.06 billion, 10.4% higher than $1.86 billion in the second quarter of 2013. Analysts expected revenue of $1.96 billion for the quarter. “Our results for the second quarter
Terex Corporation reported second-quarter income from continuing operations of US$87.8 million compared to $20.4 million in the same period last year.
Excluding the impact of certain items totalling $54.4 million income from continuing operations as adjusted in the second quarter of prior year was $74.8 million.
Net sales were $2.06 billion, 10.4% higher than $1.86 billion in the second quarter of 2013. Analysts expected revenue of $1.96 billion for the quarter.
“Our results for the second quarter and first six months of the year were mixed both from a business and geographical perspective,” said Ron DeFeo, Terex chairman and chief executive.
“Our Construction and Material Handling & Port Solutions segments both delivered quarters roughly in-line with our expectations, while the Materials Processing segment had a more challenging quarter from a sales perspective than originally anticipated.
“From a geographical perspective, Western Europe and North America were the growth drivers with increases of 35% and 15% respectively, with the rest of world somewhat offsetting these strengths.”
