July 30 - "Our results for the second quarter and first six months of the year were mixed both from a business and geographical perspective," says Ron DeFeo, chairman and chief executive officer of Terex Corporation.
Net sales were USD2.05 billion in the second quarter of 2014, which is 10 percent higher than net sales in the same period of 2013, which amounted to USD1.86 billion.
Income from operations was USD160.9 million in the second quarter of 2014, an increase of USD77.4 million when compared with 2013's second quarter income.
DeFeo noted that its Aerial Work Platforms (AWP) segment had a strong quarter but margins were slightly lower than a year ago, while its Cranes sector is making progress. "Bookings were roughly equal to net sales during the quarter and the order entry run rate was 12 percent above the prior year level on a year to date basis," he said.
DeFeo explained that Terex's Construction and Material Handling & Port Solutions segments also delivered quarters roughly in line with the company's expectations.
"From a geographical perspective, Western Europe and North America were the growth drivers with increases of 35 percent and 15 percent respectively, with the rest of world somewhat offsetting these strengths," added the Terex chairman.
Backlog for orders deliverable during the next twelve months was USD2.19 billion at June 30, 2014: a decrease of 7 percent from March 31, 2014 and an increase of 2.2 percent from June 30, 2013.
