Terex Corporation reported a strong finish to the year, with Q4 net sales of nearly $1.1 billion, +9.1 percent versus 2016 due to improving market demand and successful implementation of the company's transformation strategy. For the full year, Terex reported net sales of $4.4 billion — down 1.8 percent from 2016 due to the sale of non-core businesses and softness in its mobile cranes business. The positive year-end momentum is poised to continue with the company reporting backlog up by 56 percent at year end.
The materials processing business segment continued to be a strong contributor to Terex Corporation's overall results with net sales up nearly +20 percent in the fourth quarter and +13.6 percent for the full year while backlog was up by 47 percent. The business benefitted from growth in several of its product lines including crushing and screening, environmental equipment and its Fuchs material handlers
“The fourth quarter marked an excellent finish to an important year for Terex with profitability increasing significantly,” said John L. Garrison, Terex president and CEO. “We continued to simplify the company to enhance efficiency and make it easier for our customers to do business with us. We reduced administrative expenses while increasing investment in innovation, strategic sourcing, and commercial excellence.”
Kieran Hegarty, president Terex MP, said, “We enter 2018 with strength in many of the markets we serve. Materials processing is investing in innovation, and will continue to launch new products and services designed to improve our customers' return on investment over the course of the year.”
For more information about Terex MP products and services, visit www.terex.com/en/materials-processing.