Why Did Terex (TEX) Delay Its Earnings?; Analyst Thinks Potential Astec Industries (ASTE) Takeover is a Possible Reason
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Terex (TEX) Tops Q4 EPS by 4c, Revenues Beat; Raises FY19 EPS Guidance
February 25, 2019 6:09 AM ESTTerex (NYSE: TEX) reported Q4 EPS of $0.51, $0.04 better than the analyst estimate of $0.47. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.2 billion.
Q4 Sales up 16%Q4 Operating Profit up 14%, as adjusted up 30%Q4 EPS $(0.42), as adjusted Q4 EPS $0.51 - up 55%FY Sales up 18%, Backlog up 19%FY Operating Profit up 63%, as adjusted up 52%FY EPS $1.45, as adjusted FY EPS $2.71 - up 101%2019 Guidance Highlights: Sales of ~$4.7 billion, EPS improves to $3.60-$4.20Overall, our global team executed well... More
Terex (TEX) Announces Sale of Demag Mobile Cranes Business to Tadano Ltd. for $215M
February 25, 2019 5:57 AM ESTTerex Corporation (NYSE: TEX) today announced that it has agreed to sell its Demag® Mobile Cranes business to Tadano Ltd. for an enterprise value of approximately $215 million. The Demag® Mobile Cranes business manufactures and sells all terrain cranes and large crawler cranes. Included in the transaction are the manufacturing facilities in Zweibrucken, Germany and multiple sales and service locations. The sale, which is subject to government regulatory approvals and other customary closing conditions, is targeted to close in mid-2019.
The Demag® Mobile Cranes business has been part of our Company for almost two decades... More
