Key Developments: Terex Corp (TEX)
29.29USD
17 Jun 2013
$-2.45 (-7.72%)
$31.74
$26.81
$29.34
$26.71
14,503,001
2,651,839
$37.12
$14.05
Latest Key Developments (Source: Significant Developments)
Terex Corp Reaffirms FY 2013 EPS Guidance-Conference Call
Terex Corp announced that the EPS guidance that it gave for the beginning of fiscal 2013 remains unchanged at the first-quarter disclosure of $2.40 to $2.70 a share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $2.57 for fiscal 2013. Full Article
Terex Corp Reiterates FY 2013 Guidance
Terex Corp reiterated its fiscal 2013 outlook and expects earnings per share (EPS) to be between $2.40 and $2.70 per share, excluding restructuring and other unusual items, on net sales of between $7.9 billion and $8.3 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $2.62 on revenue of $8.0 billion for fiscal 2013. Full Article
Terex Corp Reaffirms FY 2013 EPS Guidance; Issues FY 2015 Guidance In Line With Analysts' Estimates-Conference Call
Terex Corp announced that it expects earnings for fiscal 2013 should be between $2.40 and $2.70 a share. The Company executes the plan, generating $1 billion operating profit or $1.15 billion of EBITDA and can be a $10 billion enterprise on the top line in fiscal 2015 goal. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $2.62 for fiscal 2013; revenue of $9 billion, EBITDA of $1 billion for fiscal 2015. Full Article
Terex Corp Reaffirms FY 2013 Guidance-Conference Call
Terex Corp announced that for fiscal 2013 it expects earnings per share (EPS) to be between $2.40 and $2.70 and net sales of between $7.9 billion and $8.3 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $8.0 billion and EPS of $2.62 for fiscal 2013. Full Article
Terex Corp Issues FY 2013 Guidance Above Analysts' Estimates
Terex Corp announced that for fiscal 2013 it expects earnings per share (EPS) to be between $2.40 and $2.70 (excluding restructuring and unusual items) on net sales of between $7.9 billion and $8.3 billion. The Company expects to generate more than $500 million in free cash flow during 2013, with an aim to further reduce outstanding indebtedness. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $7.5 billion and EPS of $2.03 for fiscal 2013. Full Article
Terex Corp Enters Into Agreement To Divest Certain Roadbuilding Assets And Operations
Terex Corp announced that it has entered into a contract to divest its Roadbuilding operations in Brazil and certain mobile roadbuilding product lines in the U.S. to the Fayat Group (Bomag and Marini). Product lines being divested include asphalt plants and pavers manufactured in Porto Allegre, Brazil, and assets for the asphalt paver, reclaimer stabilizer and material transfer product lines which are currently manufactured in Oklahoma City. The transaction is anticipated to close during the first quarter. Terex has determined that it will be exiting the remaining roadbuilding product lines that it manufactures in Oklahoma City, and has taken charges in connection with the business assets being sold and the remaining Oklahoma City roadbuilding assets to reflect the likely realizable value in a transaction. The amount of these charges that will impact the fourth quarter 2012 results, when reported, is approximately $15 million. Terex will continue manufacturing operations in Oklahoma City for its product lines not affected by this transaction. Full Article
Terex Corp Announces Management Change-Form 8-K
Terex Corp reported in its Form 8-K that on January 14, 2013 that Kevin Bradley, currently President, Terex Cranes, will transition to the role of Senior Vice President and Chief Financial Officer (CFO) effective immediately after the filing of the Company's Annual Report on Form 10-K for 2012. Mr. Bradley, 50, was named President, Terex Cranes in January 2011. Prior to that, Mr. Bradley had served as President, Terex Financial Services since joining Terex in 2005. Terex previously announced that Phil Widman would be retiring as Senior Vice President and Chief Financial Officer effective March 31, 2013. Full Article
Terex Corp Reaffirms FY 2012 Guidance-Conference Call
Terex Corp confirmed fiscal 2012 guidance for earnings of $1.95 to $2.05 a share, adjusted on sales of about $7.5 billion. Full Article
Terex Corp Reaffirms FY 2012 Guidance-Conference Call
Terex Corp announced that it is in an environment where the back half of fiscal 2012 is a little bit softer than the front half, the Company is holding to fiscal 2012 outlook. Full Article
Terex Corp Announces Pricing of Capital Markets Transaction
Terex Corp announced that it priced $850 million in new financing, not including underwriting discounts and commissions or other offering expenses. The $850 million principal amount of Senior Notes due 2021 priced at 6.00% at an issue price of 100%. The public offering is expected to close on November 26, 2012, subject to customary closing conditions. The Company intends to use the net proceeds of this offering together with other funds to finance the purchase of the Company’s outstanding 8% senior subordinated notes due 2017. The Company intends to use any remaining proceeds for general corporate purposes. The Company intends to offer and sell these securities under the shelf registration statement filed with the Securities and Exchange Commission on November 2, 2012. Credit Suisse Securities (USA) LLC, Goldman, Sachs and Co., RBS Securities Inc. and UBS Securities LLC will act as the joint book-running managers of the offering. The Company will not be undertaking a European capital markets transaction Full Article
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