Terex Materials Processing shares second quarter 2019 results
- Terex Corporation Q2 Sales $1.3 billion, up 4%, up 8% excluding the impact of FX
- Terex MP Segment Q2 Sales $365 million, up 9%, up 13% excluding the impact of FX
- Healthy MP global backlog of $364 million
Following Terex Corporation’s release of its second quarter 2019 results, Terex Materials Processing (MP) is pleased to share these, along with its segment-specific, results.
Terex Corporation (NYSE: TEX) has announced second quarter 2019 net sales of $1.3 billion, up 4% versus the second quarter of 2018. On an FX-neutral basis, global sales increased 8% compared to the second quarter of 2018.
Terex MP had another excellent quarter with sales of $365 million, an increase of 9%, or 13% excluding the impact foreign exchange rates, versus Q2 2018, driven by global demand for its broad range of products and services including Crushing and Screening products, Material Handlers, Cement Mixer Trucks, and Pick and Carry equipment. MP’s backlog of $364 million positions the segment well heading into the second half of 2019.
“Terex continued to grow in the second quarter” stated John L. Garrison, Terex Chairman and CEO. “Global demand for our leading products and services remained generally stable at a healthy level, and we continued to meet the needs of our diverse customer base.”
Kieran Hegarty, President Terex MP commented, “We had an excellent quarter, thanks to strong global sales and execution across our businesses. Our global team is committed to meeting the needs of our customers, and that manifests in our consistently strong operating results. We continue to invest in product and service innovation and geographic expansion that will enable us to serve more customers globally.” Hegarty continued, “For example, we recently hosted Digital Dealer Forums in Chicago and Ireland that showcased our Powerscreen Pulse and OMNI by Terex digital solutions. Our manufacturing capacity investments in Northern Ireland and India remain on track. These facilities will enable even more growth in our Environmental product lines and further expansion in the growing Indian and broader Asian markets. I am excited about the prospects for the future across our MP businesses.”