Terex Corp. announced third-quarter income from continuing operations of $56.6 million on net sales of $1.1 billion ”“ an improvement over third-quarter 2016”™s income of $33.3 million on net sales of $1.1 billion but representing a downturn from second-quarter 2017”™s net income of $95.4 million on sales of $1.2 billion.
“Our third-quarter financial results demonstrate the accelerating momentum across Terex,” said John L. Garrison, president and CEO of the Westport firm, which manufactures lifting and material processing products and services.
Garrison noted that all three of Terex”™s segments ”“ cranes, materials processing and aerial work platforms ”“ improved operating margin and grew backlog.
“Having completed the first element of our strategy ”“ focusing the portfolio on our three core segments ”“ our strategy deployment efforts are concentrated on simplifying the company and implementing our ”˜execute to win”™ business system,” Garrison said. “A fundamental component of execute to win is improving our commercial capabilities.”
The executive said the firm would “continue to follow our disciplined capital allocation strategy.”
