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Terex Corporation Q1 Sales $1.3 billion, +25% vs. 2017, growth in every segment
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Terex Corporation backlog $2.0 billion, +54% vs. 2017
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Terex AWP Segment Q1 Sales $639 million, +35% vs. 2017
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Terex AWP Segment backlog $891 million, +43% vs. 2017
REDMOND, WA(May 1, 2018) –Following Terex Corporation’s release of its first quarter 2018 results, Terex Aerial Work Platforms (AWP) is pleased to share these, along with its segment-specific results.
Terex Corporation (NYSE: TEX) reported a strong start to 2018 with first quarter 2018sales of $1.3 billion, up 25% versus Q1 of 2017. The growth reflects the improvements made to the company’s operations and broad-based growth across its global markets.
The Terex AWP business segment, driven by its Genie
® brand, continued to gain momentum in Q1 building off its strong finish in 2017. Terex AWP increased sales by $167 million, up 35% versus Q1 2017, driven by growth in North America and Western Europe.The business entered Q2 with backlog of $891 million, which is up $266 million, or +43% versus last year.
“Overall, we had a strong start to the year. Our backlog is up significantly in every segment and our global markets are improving,” remarked John L. Garrison, Terex President and CEO. “We will continue to execute our Transformation program by simplifying the company and building capabilities designed to enable us to serve our customers better and faster than the competition.”
Matt Fearon, Genie President, Terex AWP commented, “I’m pleased to see the global AWP markets remain healthy and strong. The teams have done an excellent job of responding to customer needs and it is reflected in our Q1 results. We see this momentum carrying through 2018, despite some of the recent headwinds facing the industry. We’re continuing our emphasis on innovative new products and using our global teams to meet rising demand.”
For more information on Terex Corporation’s first quarter 2018 results, visit
Terex First Quarter 2018 Results Release.
For more information about Genie products and services, visit:
www.genielift.com.
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About Terex
Terex Corporation is a global manufacturer of lifting and material processing products and services delivering lifecycle solutions that maximize customer return on investment. Major Terex brands include Terex, Genie, Powerscreen and Demag. Terex solutions serve a broad range of industries, including construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utilities, quarrying and mining. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. More information about Terex is available on its website: www.Terex.com, and on its LinkedIn page —www.linkedin.com/company/terex and Facebook page —www.facebook.com/TerexCorporation.
Forward Looking Statements:
This press release contains forward-looking information regarding future events or Terex’s future financial performance based on the current expectations of Terex. Terex has based these forward-looking statements on current expectations and projections about future events. These statements are not guarantees of future performance. Actual events or the actual future results of Terex may differ materially from any forward-looking statement due to these and other risks, uncertainties and significant factors. The forward-looking statements speak only as of the date of this release. Terex expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement included in this release to reflect any changes in expectations with regard thereto or any changes in events, conditions, or circumstances on which any such statement is based.
Investor Relations Contact Information:
Brian Henry |
Senior Vice President, Business Development and Investor Relations |
Phone: 203-222-5954 |
Email: [email protected] |
Business Segment Contact Information:
Amber Reed
Communications Manager
Phone: 206-771-0846
Email:
mailto:[email protected]