TEREX CORPORATION Reports Earnings Results for Q2 of Fiscal Year 2023
August 14, 2023
🌥️Earnings Overview
On August 1, Terex Corporation ($NYSE:TEX) reported their financial results for the second quarter of fiscal 2023, ending on June 30 2023. Total revenue for the quarter was USD 1403.1 million, a 30.3% increase from the same period in the preceding year. Net income also rose significantly, with a 115.1% year-over-year growth to USD 159.4 million.
Market Price
TEREX CORPORATION reported their earnings results for the second quarter of the fiscal year 2023 on Tuesday. The company’s stock opened at $59.5 and closed at $62.0, a 5.8% increase from the prior closing price of $58.6. This rise can be attributed to the positive earnings report the company released, which showed that they had exceeded Wall Street expectations for the quarter. The company attributed their success to strong performance in their core businesses, such as construction and mining. They also saw strong growth in their recently acquired businesses, such as powering machines and equipment.
This was driven primarily by cost-cutting measures implemented across the board, including streamlining operations and reducing overhead costs. Overall, TEREX CORPORATION had an impressive second quarter of the fiscal year 2023, with sales up and expenses down. The company was able to exceed expectations and exceeded their targets for the quarter, setting themselves up for a successful year ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Terex Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 4.98k | 446 | 8.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Terex Corporation. More…
| Operations | Investing | Financing |
| 371.7 | -120.3 | -211.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Terex Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.42k | 1.98k | 21.47 |
Key Ratios Snapshot
Some of the financial key ratios for Terex Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.2% | 76.2% | 12.0% |
| FCF Margin | ROE | ROA |
| 5.4% | 27.3% | 10.9% |
Analysis
At GoodWhale, we have conducted a comprehensive analysis of TEREX CORPORATION. Our Risk Rating indicates that TEREX CORPORATION is a medium risk investment, which means its financial and business aspects have some risk associated with them. We have also identified two potential red flags in TEREX CORPORATION’s income sheet and balance sheet. To learn more about these risk warnings and better understand TEREX CORPORATION’s overall financial landscape, sign up to GoodWhale.com and get full access to our analysis. More…
Peers
Terex Corp is one of the largest manufacturers of construction and mining equipment in the world. The company operates in four segments: Aerial Work Platforms, Construction, Cranes, and Materials Processing. Terex Corp has a long history dating back to 1925, and its products are sold in over 170 countries around the globe. The company’s main competitors are Astec Industries Inc, Kito Corp, and Action Construction Equipment Ltd.
– Astec Industries Inc ($NASDAQ:ASTE)
Astec Industries is a publicly traded company that manufactures and sells equipment for the mining, aggregate, and infrastructure industries. The company has a market capitalization of $967.32 million and a return on equity of -0.71%. Astec Industries produces and sells a variety of products, including crushers, screens, and other equipment used in mining and aggregate processing. The company also manufactures and sells a variety of products used in infrastructure projects, such as asphalt plants and concrete plants.
– Kito Corp ($TSE:6409)
Kito Corp is a Japanese engineering company that designs and manufactures products for a wide range of industries, including construction, automotive, electronics, and aerospace. The company has a market cap of 55.99 billion as of 2022 and a return on equity of 11.34%. Kito Corp is a publicly traded company listed on the Tokyo Stock Exchange.
– Action Construction Equipment Ltd ($BSE:532762)
Action Construction Equipment Ltd is an Indian company that manufactures and sells construction equipment. The company has a market cap of 38.21B as of 2022 and a Return on Equity of 15.7%. Action Construction Equipment Ltd is a leading manufacturer of construction equipment in India with a market share of over 60%. The company offers a wide range of products including excavators, loaders, dumpers, and cranes.
Summary
TEREX Corporation has reported strong second quarter results for FY 2023, with total revenue increasing by 30.3% and net income rising by 115.1% when compared to the same period in the previous year. The news has caused the stock price to move up on the same day and is a positive indicator for investors looking to add the company to their portfolio. It is suggested that potential investors take into account the increase in revenue and net income when considering a long-term investment in TEREX Corporation.
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