Terex Q2 Sales Fall 11 Percent

July 30, 2015

Net sales for the second quarter were 11 percent below 2014 levels, Terex reported, at $1.829 billion. This represents a decrease of $226.6 million from Q2 2014 sales of $2.055 billion.

Income from continuing operations was $85.2 million, or $0.78 per share, compared to $87.8 million, or $0.76 per share, for Q2 of 2014.

Income from operations was $148.3 million in Q2 2015, a decrease of $12.6 million when compared to 2014 income from operations.

“Our Materials Processing business had a good quarter, expanding operating margins despite lower sales, said Terex chairman/CEO Ron DeFeo. "MHPS results were slightly below our expectations for the quarter, but a strong second half performance is still anticipated. Our Cranes segment performed generally in line with our expectations, but with a weaker product mix. The overall market for cranes remains challenging and we are not anticipating any near term improvements. The Construction segment was slightly profitable, with pressure on operating results continuing to come from the European and Indian compact construction and material scrap handling businesses.”