Terex Corp. Files 10-Q for Period Ending March 31, 2024
Ticker: TEX · Form: 10-Q · Filed: Apr 26, 2024 · CIK: 97216
Sentiment: neutral
Topics: Terex Corp, 10-Q, Q1 2024, Financial Report, SEC Filing
TL;DR
<b>Terex Corporation has filed its Q1 2024 10-Q report, providing financial details and segment performance.</b>
AI Summary
TEREX CORP (TEX) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Terex Corporation filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial statement data and segment information are included. The report details changes in equity accounts for Q1 2024 and prior periods. Trade accounts receivable figures for March 31, 2024, and December 31, 2023, are presented.
Why It Matters
For investors and stakeholders tracking TEREX CORP, this filing contains several important signals. This filing provides investors with the latest quarterly financial performance and operational updates for Terex Corporation. It allows stakeholders to assess the company's financial health, segment contributions, and changes in its balance sheet.
Risk Assessment
Risk Level: low — TEREX CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk disclosures.
Analyst Insight
Review the segment performance and balance sheet changes in the 10-Q to understand Terex's current financial standing.
Key Numbers
- 2024-03-31 — Period End Date (10-Q filing period)
- 2024-04-26 — Filing Date (10-Q filing date)
- 3537 — SIC Code (Industrial Trucks, Tractors, Trailers & Stackers)
Key Players & Entities
- TEREX CORP (company) — Filer name
- 2024-03-31 (date) — Period of report
- 2024-04-26 (date) — Filed as of date
- 45 GLOVER AVENUE (address) — Business address
- NORWALK (city) — Business address city
- CT (state) — Business address state
- 06850 (zip_code) — Business address zip
- 2032227170 (phone_number) — Business phone
FAQ
When did TEREX CORP file this 10-Q?
TEREX CORP filed this Quarterly Report (10-Q) with the SEC on April 26, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by TEREX CORP (TEX).
Where can I read the original 10-Q filing from TEREX CORP?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by TEREX CORP.
What are the key takeaways from TEREX CORP's 10-Q?
TEREX CORP filed this 10-Q on April 26, 2024. Key takeaways: Terex Corporation filed its 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of fiscal year 2024.. Key financial statement data and segment information are included..
Is TEREX CORP a risky investment based on this filing?
Based on this 10-Q, TEREX CORP presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk disclosures.
What should investors do after reading TEREX CORP's 10-Q?
Review the segment performance and balance sheet changes in the 10-Q to understand Terex's current financial standing. The overall sentiment from this filing is neutral.
How does TEREX CORP compare to its industry peers?
Terex Corporation operates in the industrial machinery sector, specifically focusing on lifting and material handling equipment.
Are there regulatory concerns for TEREX CORP?
The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit quarterly reports.
Industry Context
Terex Corporation operates in the industrial machinery sector, specifically focusing on lifting and material handling equipment.
Regulatory Implications
The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit quarterly reports.
What Investors Should Do
- Analyze the revenue and profitability of Terex's operating segments (Aerial Work Platforms, Materials Processing, etc.).
- Examine changes in the company's balance sheet, including assets, liabilities, and equity, for Q1 2024.
- Review any disclosures related to debt, cash flow, or significant financial events during the quarter.
Key Dates
- 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q
- 2024-04-26: Filing Date — Date the 10-Q was officially filed with the SEC
Year-Over-Year Comparison
This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report.
Filing Stats: 4,554 words · 18 min read · ~15 pages · Grade level 9.4 · Accepted 2024-04-26 11:27:24
Key Financial Figures
- $0.01 — ange on which registered Common Stock ($0.01 par value) TEX New York Stock Exchange
Filing Documents
- tex-20240331.htm (10-Q) — 1224KB
- tex3312024-ex311.htm (EX-31.1) — 10KB
- tex3312024-ex312.htm (EX-31.2) — 10KB
- tex3312024-ex32.htm (EX-32) — 10KB
- tex-20240331_g1.jpg (GRAPHIC) — 55KB
- 0000097216-24-000099.txt ( ) — 7368KB
- tex-20240331.xsd (EX-101.SCH) — 39KB
- tex-20240331_cal.xml (EX-101.CAL) — 54KB
- tex-20240331_def.xml (EX-101.DEF) — 276KB
- tex-20240331_lab.xml (EX-101.LAB) — 583KB
- tex-20240331_pre.xml (EX-101.PRE) — 461KB
- tex-20240331_htm.xml (XML) — 1224KB
Financial Statements
Financial Statements 4 Item 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 Item 4
Controls and Procedures
Controls and Procedures 36 PART II OTHER INFORMATION 37 Item 1
Legal Proceedings
Legal Proceedings 37 Item 1A
Risk Factors
Risk Factors 37 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3 Defaults Upon Senior Securities 37 Item 4 Mine Safety Disclosures 37 Item 5 Other Information 37 Item 6 Exhibits 38
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS TEREX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (unaudited) (in millions, except per share data) Three Months Ended March 31, 2024 2023 Net sales $ 1,292.5 $ 1,235.7 Cost of goods sold ( 995.2 ) ( 957.0 ) Gross profit 297.3 278.7 Selling, general and administrative expenses ( 139.0 ) ( 131.0 ) Income (loss) from operations 158.3 147.7 Other income (expense) Interest income 3.6 2.0 Interest expense ( 15.0 ) ( 14.9 ) Other income (expense) – net ( 10.4 ) ( 1.6 ) Income (loss) from continuing operations before income taxes 136.5 133.2 (Provision for) benefit from income taxes ( 28.0 ) ( 23.3 ) Income (loss) from continuing operations 108.5 109.9 Gain (loss) on disposition of discontinued operations – net of tax — 2.7 Net income (loss) $ 108.5 $ 112.6 Basic earnings (loss) per share: Income (loss) from continuing operations $ 1.62 $ 1.62 Gain (loss) on disposition of discontinued operations – net of tax — 0.04 Net income (loss) $ 1.62 $ 1.66 Diluted earnings (loss) per share: Income (loss) from continuing operations $ 1.60 $ 1.60 Gain (loss) on disposition of discontinued operations – net of tax — 0.04 Net income (loss) $ 1.60 $ 1.64 Weighted average number of shares outstanding in per share calculation Basic 67.0 67.7 Diluted 67.9 68.8 Comprehensive income (loss) $ 79.7 $ 138.9 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 TEREX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) (in millions, except par value) March 31, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 364.9 $ 370.7 Receivables (net of allowance of $ 9.1 and $ 8.3 at March 31, 2024 and December 31, 2023, respectively) 685.3 547.8 Inventories 1,217.6 1,186.0 Prepaid and other current assets 121.8 140.7 Total current assets 2,389.6 2,245.2 Non-current assets Prope