Terex reported a strong start to 2021, with revenues exceeding expectations due to increased customer demand. Operating margins and backlog improved in both AWP and MP segments year-over-year. The company significantly improved its first-quarter earnings per share compared to last year and is increasing its full-year sales, operating profit, cash flow, and EPS outlook.
Revenues of $864 million, up 4% year-over-year.
Operating profit of $62 million compared to an operating loss of $7 million in Q1 2020.
Operating margin improved by 800 basis points year-over-year.
Positive free cash flow of $40 million driven by net working capital management and improved profitability.
Terex has increased its full-year sales, operating profit, cash flow, and EPS outlook. The company expects continued end-market improvement in both segments and increasing levels of AWP customers’ fleet replenishment.
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