Terex CEO John Garrison (L) and Terex MP President Kieran Hegarty at the Hillhead 2018 Show.
Terex Corporation reported strong second quarter 2018 sales of $1.4 billion, up 19 percent versus Q2 of 2017, with increased sales and backlog in all three business segments. The results were driven by continued implementation of the company's Execute to Win business strategy and its focus on meeting the growing needs of customers during a period of broad-based growth.
The Materials Processing business segment was a strong contributor to the overall company results with sales of $319 million that were 14 percent higher than last year. The growth was driven by consistent execution and increasing global demand for materials processing products driven by broad-based economic growth and construction activity. Backlog for the segment at the end of Q2 was $393 million, up 75 percent versus last year.
“We delivered very strong results in the second quarter. Our global team continued to execute well and continued the trend of improving overall performance. We increased sales and backlog in all three segments and increased production to meet strong global demand,” said John L. Garrison, Terex president and CEO. “Overall, it was a strong quarter that positions us very well going into the second half of the year.”
Kieran Hegarty, president Terex MP said, “MP had another excellent quarter, and the prospects for the balance of the year, illustrated by our growing backlog, remain very strong. At the Hillhead show in June, we showcased products from our entire line of crushing, screening, washing and conveying equipment including 10 new machines. We also featured our innovative telematics offerings that help customers maximize uptime, and help us and our channel partners increase parts and service availability. These new products will help solidify our position as a leader in the industry.”
For more information on Terex Corporation's second quarter 2018 results, visit https://investors.terex.com/investor-relations/press-releases/press-release-details/2018/Terex-Announces-Second-Quarter-2018-Results/default.aspx
For more information about Terex MP products and services, visit: www.terex.com/en/materials-processing .