Terex Corp Q2 2024 10-Q Filed
Ticker: TEX · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 97216
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Terex Corp Q2 2024 10-Q is in. Financials and segment details are live.
AI Summary
Terex Corporation filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Specific financial figures and segment performance are outlined within the report.
Why It Matters
This filing provides investors with the latest financial results and operational details for Terex Corporation, crucial for understanding the company's current performance and future outlook.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Players & Entities
- TEREX CORP (company) — Filer
- 0000097216-24-000133 (other) — Accession Number
- 20240630 (date) — Period of Report
- 20240731 (date) — Filing Date
- 45 GLOVER AVENUE (other) — Business Address
- NORWALK (other) — City
- CT (other) — State
- 06850 (other) — ZIP Code
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 31, 2024.
What is Terex Corporation's Standard Industrial Classification code?
Terex Corporation's SIC code is [3537] INDUSTRIAL TRUCKS TRACTORS TRAILERS & STACKERS.
What is the company's principal business address?
The principal business address is 45 GLOVER AVENUE, 4TH FLOOR, NORWALK, CT 06850.
What is the SEC file number for Terex Corporation?
The SEC file number for Terex Corporation is 001-10702.
Filing Stats: 4,628 words · 19 min read · ~15 pages · Grade level 9 · Accepted 2024-07-31 11:47:06
Key Financial Figures
- $0.01 — ange on which registered Common Stock ($0.01 par value) TEX New York Stock Exchange
Filing Documents
- tex-20240630.htm (10-Q) — 1679KB
- tex6302024-ex311.htm (EX-31.1) — 10KB
- tex6302024-ex312.htm (EX-31.2) — 10KB
- tex6302024-ex32.htm (EX-32) — 10KB
- tex-20240630_g1.jpg (GRAPHIC) — 55KB
- 0000097216-24-000133.txt ( ) — 8900KB
- tex-20240630.xsd (EX-101.SCH) — 41KB
- tex-20240630_cal.xml (EX-101.CAL) — 55KB
- tex-20240630_def.xml (EX-101.DEF) — 292KB
- tex-20240630_lab.xml (EX-101.LAB) — 604KB
- tex-20240630_pre.xml (EX-101.PRE) — 479KB
- tex-20240630_htm.xml (XML) — 1758KB
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 26 Item 3
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 39 Item 4
Controls and Procedures
Controls and Procedures 40 PART II OTHER INFORMATION 41 Item 1
Legal Proceedings
Legal Proceedings 41 Item 1A
Risk Factors
Risk Factors 41 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3 Defaults Upon Senior Securities 43 Item 4 Mine Safety Disclosures 43 Item 5 Other Information 43 Item 6 Exhibits 44
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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 1,381.7 $ 1,403.1 $ 2,674.2 $ 2,638.8 Cost of goods sold ( 1,053.3 ) ( 1,060.2 ) ( 2,048.5 ) ( 2,017.2 ) Gross profit 328.4 342.9 625.7 621.6 Selling, general and administrative expenses ( 135.3 ) ( 133.0 ) ( 274.3 ) ( 264.0 ) Income (loss) from operations 193.1 209.9 351.4 357.6 Other income (expense) Interest income 2.0 1.1 5.6 3.1 Interest expense ( 15.6 ) ( 15.4 ) ( 30.6 ) ( 30.3 ) Other income (expense) – net ( 5.4 ) ( 3.8 ) ( 15.8 ) ( 5.4 ) Income (loss) from continuing operations before income taxes 174.1 191.8 310.6 325.0 (Provision for) benefit from income taxes ( 33.4 ) ( 32.0 ) ( 61.4 ) ( 55.3 ) Income (loss) from continuing operations 140.7 159.8 249.2 269.7 Gain (loss) on disposition of discontinued operations – net of tax — ( 0.4 ) — 2.3 Net income (loss) $ 140.7 $ 159.4 $ 249.2 $ 272.0 Basic earnings (loss) per share: Income (loss) from continuing operations $ 2.09 $ 2.36 $ 3.71 $ 3.98 Gain (loss) on disposition of discontinued operations – net of tax — — — 0.04 Net income (loss) $ 2.09 $ 2.36 $ 3.71 $ 4.02 Diluted earnings (loss) per share: Income (loss) from continuing operations $ 2.08 $ 2.35 $ 3.68 $ 3.94 Gain (loss) on disposition of discontinued operations – net of tax — ( 0.01 ) — 0.03 Net income (loss) $ 2.08 $ 2.34 $ 3.68 $ 3.97 Weighted average number of shares outstanding in per share calculation Basic 67.2 67.6 67.1 67.7 Diluted 67.7 68.1 67.8 68.5 Comprehensive income (loss) $ 113.9 $ 169.4 $ 193.6 $ 308.3 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) June 30, 20