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Terex Corporation manufactures specialized equipment for emergency services, waste and recycling, utilities, construction, materials processing and aerial work applications. Its portfolio includes specialty vehicles such as fire and ambulance vehicles, waste collection vehicles, mobile elevating work platforms, materials processing machinery and electric utility equipment, supported by dealer, parts and service networks.
Recurring Terex news covers operating results, bookings and backlog, segment performance across Specialty Vehicles, Materials Processing, Aerials and Terex Utilities, portfolio changes following completed acquisitions or divestitures, manufacturing capacity investments, dividends and other capital-structure or governance updates.
Terex Corporation (NYSE:TEX) has declared a quarterly dividend of $0.12 per share. This dividend will be paid on June 18, 2021, to all shareholders who are on record as of June 4, 2021. The dividend is part of Terex's commitment to returning value to shareholders while supporting its business in manufacturing and construction.
Terex Corporation (NYSE: TEX) reported a first-quarter 2021 income from continuing operations of $39.7 million, or $0.56 per share, surpassing the prior year's loss of $24.7 million. Net sales increased to $864.2 million, driven by improved market conditions post-pandemic. The company raised its 2021 sales outlook to approximately $3.7 billion with an EPS of $2.35 to $2.55. Strong cash flow management generated $40 million of free cash flow, allowing for the prepayment of $196 million in loans. Terex aims to leverage its operational execution for growth while refinancing capital to secure favorable debt terms.
Terex Corporation (NYSE: TEX) will host a conference call on April 30, 2021, at 9:00 a.m. ET to discuss its first quarter 2021 financial results. The results will be made available on April 29, 2021, after market close. John L. Garrison, Jr., the Chairman and CEO, will lead the call. Participants are encouraged to join the webcast 15 minutes early. Terex manufactures aerial work platforms and materials processing machinery, selling its products globally. For more details, visit the investor relations page.
Terex Corporation (NYSE: TEX) has completed the issuance of $600,000,000 in 5.00% senior notes due 2029 in a private offering. The company plans to use the proceeds along with cash to redeem its 5.625% senior notes due 2025 on April 5, 2021, at a redemption price of 102.813% of the principal amount plus accrued interest. This move aims to optimize their debt structure. The release also includes forward-looking statements which identify potential risks that may impact future performance.
Terex Corporation (NYSE: TEX) announced a private offering of $600 million in 5.00% senior notes due 2029. The proceeds will primarily refinance existing debt, specifically redeeming its 5.625% senior notes due 2025 and refinancing existing senior secured credit facilities. The offering is expected to close on April 1, 2021, subject to customary conditions. The notes will be offered to qualified institutional buyers under Rule 144A and certain non-U.S. persons outside the United States.
Terex Corporation (NYSE:TEX) announced a proposed $600 million private offering of senior notes due 2029. The funds will be used to fully redeem existing 5.625% senior notes due 2025, refinance outstanding debts, and cover associated expenses. The offering is exempt from SEC registration and targeted at qualified institutional buyers. However, there is no guarantee of favorable terms for the refinancing. Forward-looking statements highlight potential risks, including market condition changes and the decision not to proceed with the offering.
Terex Corporation (NYSE: TEX) reported a fourth quarter 2020 income of $14.9 million, or $0.21 per share, on net sales of $786.7 million, down from $18.5 million in Q4 2019. For the full year, income was $9.0 million with net sales of $3.1 billion, significantly lower than 2019's $209.7 million and $4.4 billion respectively. The company reinstated its quarterly dividend of $0.12 per share, to be paid on March 19, 2021. With over $670 million in cash and projected free cash flow of $100 million, Terex expects 2021 sales around $3.45 billion and EPS of $1.95 to $2.35.
Terex Corporation (NYSE: TEX) announced a conference call to discuss its fourth quarter and year-end 2020 financial results on February 12, 2021, at 9:00 a.m. ET. CEO John L. Garrison, Jr. will lead the discussion. Financial results will be available post-market on February 11, 2021, at investors.terex.com. Terex specializes in manufacturing aerial work platforms and materials processing machinery, with a global presence in multiple regions, including North America, Europe, and Asia.
Terex Corporation (NYSE: TEX) has appointed Christopher Rossi to its Board of Directors effective January 1, 2021. Rossi, CEO of Kennametal Inc., has a proven track record in leading business transformations and growth. He previously held senior roles at Dresser-Rand Group, where he played a key role in increasing revenue from $1 billion to $3 billion, culminating in a $7.6 billion acquisition by Siemens in 2015. His experience and leadership are expected to enhance Terex's corporate culture focused on performance and accountability.
Terex Corporation (NYSE: TEX) reported a third-quarter 2020 net income from continuing operations of $22.0 million, or $0.31 per share, compared to $52.4 million, or $0.73 per share, in Q3 2019. Net sales for the quarter reached $765.6 million, down from $1.0 billion a year earlier. The company improved its Aerial Work Platforms (AWP) segment with a 3.0% operating margin and maintained a strong 12.9% operating margin in Materials Processing (MP). Free cash flow was positive at $54 million, indicating effective cost management.