Terex Corporation has announced fourth quarter 2019 net sales of US$885-million, down 15,6% against the fourth quarter of 2018.
Terex MP reported sales of US$321,4-million, down 10,2% versus Q4 2018, driven by cautious customer sentiment. However, MP closed the year with another solid quarter, achieving 12% operating margins despite challenging markets. Global MP backlog totaled $295-million and bookings in the quarter were US$352-million.
Kieran Hegarty, President Terex Materials Processing.
"Our fourth quarter operating results were generally in line with our expectations on lower revenue and reflect continued challenging global market conditions for industrial equipment," says John Garrison Jr, Terex chairman and CEO.
“The MP team continues to expand its penetration into emerging markets for environmental and mobile crushing and screening equipment,” says Terex MP president Kieran Hegarty. “Also, MP is well positioned heading into 2020 with its new product offerings. One example is OMNI by Terex, which is a new innovation that improves efficiency and reduces the risk of injury on crushing and screening jobsites. OMNI and all MP’s innovations will be on display at ConExpo.”