Terex reported strong year-over-year top line revenue growth, impacted by supply chain challenges, especially within the AWP segment. Global end market demand remains robust, with quarterly bookings double the prior year. Operating margins and EPS improved significantly versus last year but were lower than prior expectations due to revenue shortfall, supply chain challenges, and inflationary cost pressures.
Revenues were up nearly 30% year-over-year.
Global end market demand remains robust.
Operating margins and EPS improved significantly versus the third quarter of last year.
Terex enjoys one of the strongest balance sheets it has ever had.
The company expects continued global end market strength over the remainder of the year and into 2022. Full-year revenue outlook is limited due to supply chain component availability. Expect operations to be impacted by accelerating cost increases with price increases partially offsetting these cost increases.
Analyze how earnings announcements historically affect stock price performance