Terex reported strong Q3 2022 results with sales of $1.1 billion, up 13% year-over-year, and EPS of $1.20, a 79% increase. The company raised its full-year EPS outlook to $4.00-$4.20 on sales of approximately $4.3 billion.
Consolidated Q3 year-to-date bookings remained at healthy levels and were the second highest booking rate in recent history.
Gross margins increased by 320 basis points due to volume, pricing, favorable mix, and cost out initiatives.
The company is raising full-year earnings per share (“EPS”) outlook to a range of $4.00 to $4.20 on sales of approximately $4.3 billion.
Total backlog position is up 33% versus the prior year.
Terex raised its full-year EPS outlook to a range of $4.00 to $4.20 and expects net sales of approximately $4.3 billion. They expect full-year free cash flow of approximately $125 million.
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