Terex raises FY23 EPS view to ~$7.00 from $5.60-$6.00, consensus $6.02

Raises FY23 revenue view to ~$5.1B from $4.8B-$5B, consensus $4.94B. “The Terex team delivered another quarter of outstanding performance” said Terex Chairman and CEO John Garrison, Jr. “I want to thank our team members for their continued commitment to our Zero Harm safety culture and for improving deliveries to our customers and dealers. We successfully overcame supply chain challenges to deliver a 30% increase in sales over the prior year. Our team delivered innovative new products combined with disciplined pricing, expense management, and manufacturing efficiency initiatives to improve operating margins by 540 basis points. As a result of the team’s exceptional execution and the strength of our customer backlog, we are raising our full-year EPS outlook to ~$7.00.”