Terex Corporation reported strong second quarter 2018 sales of $1.4 billion, up 19% versus Q2 of 2017, with increased sales and backlog in all three business segments. The results were driven by continued implementation of the company’s “Execute to Win” business strategy and its focus on meeting the growing needs of customers during a period of broad-based growth.
The Terex AWP business segment, which includes Genie aerial equipment and Terex light towers, increased sales by $158 million, up 27% versus Q2 2017, driven by growth in North America, Western Europe, and China. The business entered Q3 with backlog of $553 million, which is up +11% versus last year.
“We delivered very strong results in the second quarter. Our global team continued to execute well and continued the trend of improving overall performance. We increased sales and backlog in all three segments and increased production to meet strong global demand,” remarked John L. Garrison, Terex president and CEO. “Overall, it was a strong quarter that positions us very well going into the second half of the year.”
Matt Fearon, Genie president, Terex AWP commented, “Q2 was another strong quarter for our Genie brand, driven by solid operational performance and continued global demand for aerial work platforms and telehandlers. Rental fleets are growing, they have high utilization and their outlook for the second half of 2018 and 2019 remains positive.”
For more information on Terex Corporation’s second quarter 2018 results, visit Terex Announces Q2 2018 Results.
