Terex announced income from continuing operation of $103.6 million on net sales of $7,348.4 million for 2012, compared to income from continuing operations of $38.6 million on net sales of $6,504.6 million for 2011.
The company experienced a fourth quarter loss from continuing operations of $30.7 million, compared to a loss from continuing operations of $4.2 million in the fourth quarter of 2011.
Net sales totaled $1,695.5 million and income from operations was $27.9 million in the fourth quarter of 2012, compared with 4Q 2011 totals of $1,956.6 million and $31.1 million, respectively.
Excluding the impact of certain items in the fourth quarter of 2012, income from operations as adjusted was approximately $77 million. Excluding the impact of certain items in the fourth quarter of 2011, income from operations as adjusted was approximately $74 million.
Entering 2013, the company remains committed to profitable growth, generating cash and realizing the integration benefits of MHPS.
“While balancing the different demand environments in each of our businesses, we are expecting 2013 earnings per share to be between $2.40 and $2.70 (excluding restructuring and unusual items) on net sales of between $7.9 billion and $8.3 billion,” said Ron DeFeo, Terex chairman and CEO. “Similar to 2012, we expect to generate more than $500 million in free cash flow during 2013, with an aim to further reduce outstanding indebtedness.”