Terex Updates 2024 Outlook and Announces Third Quarter 2024 Financial Results Conference Call
"Our channels globally made adjustments faster than we anticipated, resulting in lower than expected sales volume. In AWP, customers reduced planned deliveries to align their fleet configuration with seasonal rental demand. On the MP side, dealers adjusted their inventory levels as end users gauge the macro environment," commented
Terex will host a conference call to review its third quarter 2024 financial results on
The Company's financial results will be issued and available at https://investors.terex.com before the call on
Participants are encouraged to access the webcast 15 minutes prior to the starting time. The webcast will be available for replay at https://investors.terex.com.
Forward-Looking Statements
Certain information in this press release includes forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995) regarding future events or Terex's future financial performance that involve certain contingencies and uncertainties, including those discussed in the Company's Annual Report on Form 10-K for the year ended
About Terex
Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in maintenance, manufacturing, energy, recycling, minerals and materials management, and construction applications. Certain Terex products and solutions enable customers to reduce their impact on the environment including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in
Contact Information
Derek Everitt
VP Investor Relations
Email: InvestorRelations@Terex.com
GLOSSARY
Non-GAAP Measures Definitions
In an effort to provide investors with additional information regarding the Company's results, Terex refers to various GAAP (
2024 Outlook
The Company's 2024 outlook for adjusted earnings per share is a non-GAAP financial measure because it excludes the impact of the ESG acquisition, potential future acquisitions, divestitures, restructuring, and other unusual items. The Company is not able to reconcile this forward-looking non-GAAP financial measure to its most directly comparable forward-looking GAAP financial measures without unreasonable efforts because the Company is unable to predict with a reasonable degree of certainty the exact timing and impact of such items. The unavailable information could have a significant impact on the Company's full-year 2024 GAAP financial results. This forward-looking information provides guidance to investors about the Company's earnings per share expectations excluding unusual items that the Company does not believe are reflective of its ongoing operations.
Adjusted EBITDA
EBITDA is defined as earnings, before interest, other non-operating income (loss), income (loss) attributable to non-controlling interest, taxes, depreciation and amortization. he Company calculates this by subtracting the following items from Net income (loss): (Gain) loss on disposition of discontinued operations- net of tax; and (Income) loss from discontinued operations – net of tax. Then adds the Provision for (benefit from) income taxes; Interest & Other (Income) Expense; the Depreciation and Amortization amounts reported in the Consolidated Statement of Cash Flows less amortization of debt issuance costs that are recorded in Interest expense. Adjusted EBITDA is calculated by adding items to EBITDA such as equipment warranty normalization, E&O normalization, non-operational expense items and non-recurring restructuring costs.
The Company is not able to reconcile this forward-looking non-GAAP financial measure to its most directly comparable forward-looking GAAP financial measures without unreasonable efforts because the Company is unable to predict with a reasonable degree of certainty the exact timing and impact of such items. The unavailable information could have a significant impact on ESG's GAAP financial results. This forward-looking information provides guidance to investors about ESG's performance in the fourth quarter of 2024.
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