Terex Corporation reported third quarter 2024 consolidated net sales of $1,212 million, a 6.0% decrease compared to $1,290 million in the third quarter of 2023. The company's GAAP diluted earnings per share (EPS) for the quarter was $1.31, while adjusted EPS reached $1.46. Consolidated operating profit stood at $122 million, resulting in an operating margin of 10.1%.
The Materials Processing (MP) segment recorded sales of $444 million, down from $541 million in the prior year, with an operating profit of $56 million and a 12.6% margin. The Aerial Work Platforms (AWP) segment reported sales of $769 million, an increase from $751 million in Q3 2023, achieving an operating profit of $83 million and a 10.8% margin. These results reflect ongoing industry channel adjustments and efforts to align production with demand.
For the full-year 2024, Terex provided an adjusted outlook, projecting net sales between $5.0 billion and $5.2 billion, and adjusted EPS in the range of $5.85 to $6.25. This outlook includes an anticipated contribution from the Environmental Solutions Group (ESG) post its October 8, 2024, close, which is expected to add approximately $200 million in sales and a 18.5% operating margin.
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