Raises FY23 revenue view to $4.8B-$5B from $4.6B-$4.8B, consensus $4.74B. "We entered 2023 with significant momentum as we continued to successfully execute against our growth strategy amidst elevated macroeconomic volatility and lingering supply chain constraints," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr. "I would like to thank our team members for their dedication to our Zero Harm safety culture and their efforts in serving our customers and dealers. We delivered strong first quarter results, with sales growing 23%, operating margin expansion of 460bps, and EPS more than doubling over the prior year. We are raising our full-year EPS outlook as a result of this impressive performance, strong demand for our products and a healthy backlog of $4.1 billion." "We also continued to invest in new technologies and products across our business, and are proud of our recent innovations that support sustainability and help reduce GHG emissions with electric and hybrid options for our customers. During the quarter we showcased our expanded portfolio of products and solutions at various trade shows, highlighting how we help our customers operate their equipment safely and profitably, while also supporting their sustainability goals and lowering their total cost of ownership."
Published first on TheFly
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