Terex Corp Files Q3 2024 Report

Ticker: TEX · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 97216

Sentiment: neutral

Topics: 10-Q, filing-compliance, quarterly-report

Related Tickers: TEX

TL;DR

**TEX Q3 2024 10-Q FILED: All clear on reporting requirements, large accelerated filer status confirmed.**

AI Summary

Terex Corporation (TEX) filed its quarterly report for the period ended September 30, 2024. The company, incorporated in Delaware, is listed on the New York Stock Exchange. This filing indicates Terex has met its reporting requirements for the preceding 12 months and the past 90 days, and is a large accelerated filer.

Why It Matters

This filing provides investors with an update on Terex Corporation's financial performance and compliance status for the third quarter of 2024.

Risk Assessment

Risk Level: low — The filing confirms standard reporting compliance and established filer status, indicating no immediate red flags.

Key Players & Entities

FAQ

What is the commission file number for Terex Corporation?

The commission file number for Terex Corporation is 1-10702.

What is the par value of Terex Corporation's common stock?

The par value of Terex Corporation's common stock is $0.01.

On which exchange is Terex Corporation's common stock traded?

Terex Corporation's common stock is traded on the New York Stock Exchange.

Has Terex Corporation filed all required reports for the preceding 12 months?

Yes, the filing indicates that Terex Corporation has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

What is Terex Corporation's filer status?

Terex Corporation is a large accelerated filer.

Filing Stats: 4,740 words · 19 min read · ~16 pages · Grade level 16.1 · Accepted 2024-10-30 11:46:25

Key Financial Figures

Filing Documents

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 38 Item 4

Controls and Procedures

Controls and Procedures 39 PART II OTHER INFORMATION 40 Item 1

Legal Proceedings

Legal Proceedings 40 Item 1A

Risk Factors

Risk Factors 40 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3 Defaults Upon Senior Securities 42 Item 4 Mine Safety Disclosures 42 Item 5 Other Information 42 Item 6 Exhibits 43

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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 1,212 $ 1,290 $ 3,886 $ 3,929 Cost of goods sold ( 967 ) ( 998 ) ( 3,015 ) ( 3,015 ) Gross profit 245 292 871 914 Selling, general and administrative expenses ( 123 ) ( 129 ) ( 398 ) ( 393 ) Income (loss) from operations 122 163 473 521 Other income (expense) Interest income 3 2 9 5 Interest expense ( 13 ) ( 17 ) ( 44 ) ( 47 ) Other income (expense) – net ( 13 ) 1 ( 28 ) ( 5 ) Income (loss) from continuing operations before income taxes 99 149 410 474 (Provision for) benefit from income taxes ( 11 ) ( 30 ) ( 73 ) ( 85 ) Income (loss) from continuing operations 88 119 337 389 Gain (loss) on disposition of discontinued operations – net of tax — — — 2 Net income (loss) $ 88 $ 119 $ 337 $ 391 Basic earnings (loss) per share: Income (loss) from continuing operations $ 1.32 $ 1.77 $ 5.03 $ 5.75 Gain (loss) on disposition of discontinued operations – net of tax — — — 0.04 Net income (loss) $ 1.32 $ 1.77 $ 5.03 $ 5.79 Diluted earnings (loss) per share: Income (loss) from continuing operations $ 1.31 $ 1.75 $ 4.98 $ 5.69 Gain (loss) on disposition of discontinued operations – net of tax — — — 0.03 Net income (loss) $ 1.31 $ 1.75 $ 4.98 $ 5.72 Weighted average number of shares outstanding in per share calculation Basic 66.9 67.4 67.0 67.6 Diluted 67.4 68.2 67.7 68.4 Comprehensive income (loss) $ 152 $ 67 $ 345 $ 375 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) September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 352 $ 371 Receivables (net of allowance

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