Terex gross sales fall 15.6 % in 4Q; down 3.6 % for 2019
Terex says its 4Q 2019 web gross sales of $885.zero million had been down 15.6 % versus the 4Q 2018. For the complete 12 months, web gross sales had been $4,353.1 million, in comparison with $4,517.2 million in 2018, a lower of 3.6 %.
“Our fourth quarter working outcomes had been usually in-line with our expectations on decrease income and mirror continued difficult world market situations for industrial tools,” says John L. Garrison, Jr., Terex chairman and CEO.
Wanting particularly on the Terex Aerial Work Platforms (AWP) enterprise phase, the unit reported web gross sales of $500.1 million, down 20.eight % versus 4Q 2018, which the corporate says was pushed by difficult markets in North America and Europe. International Terex AWP backlog totaled $753 million and bookings within the quarter had been $755 million.
“The fourth quarter accomplished a 12 months the place we confronted appreciable market uncertainty after two years of strong demand,” says Matt Fearon, president, Terex AWP. “We’re positioned nicely for 2020 and enthusiastic about our revolutionary new merchandise, in addition to our long-term progress prospects. Notably, we’re increasing our Changzhou, China, facility in 2020 to accommodate the market progress in China for aerial merchandise.”
Concerning the corporate’s Terex Utilities division outcomes, Fearon says, “The Terex Utilities group continues to execute nicely and can transition to their new state-of-the-art manufacturing and engineering facility this summer season. This new facility will enhance effectivity and improve capability, which along with new merchandise and repair will allow Terex Utilities to proceed to develop.”
“We count on clients to stay cautious with their capital expenditure selections in 2020,” Garrison says, and the corporate anticipates web gross sales of round $3.9 billion for the 12 months.