Genie Sales Grew 17% in 2023: Terex

Terex said net sales in its AWP segment (Genie) grew 13% in 2023 to $2.92 billion, up from $2.48 billion in 2022. Total sales for its fiscal year were $5.2 billion, up 16.6% compared to 2022 sales of $4.4 billion.

The company cited “strong demand for our products across multiple businesses and all major geographies” as well as price increases.

“We are pleased by our strong 2023 performance, and believe Terex is well-positioned to continue to deliver value to its customers and shareholders, with strong demand for its products and favorable megatrends for the long term,” said Simon Meester, president/CEO, in a statement. “Our annual results demonstrate significant improvement over the prior year and highlight our ability to successfully manage cost inflation and supply chain challenges.”

Source: Terex