Terex Cranes sees 10% growth in strong corporate Q2 in 2018

Despite global supply chain challenges, sales for Terex Cranes grew 10% to $335 million in the second quarter this year. Terex Corporation also reported an overall strong second quarter 2018 sales of US$1.4 billion, up 19% versus Q2 2017, with increased sales and backlog in all three business segments. The company said that results were driven by its ongoing corporate Execute to Win business strategy and during a period of broad-based growth. The company said that the global cranes market is generally
August 2, 2018 Read time: 2 mins

Despite global supply chain challenges, sales for 2941 Terex Cranes grew 10% to $335 million in the second quarter this year.

1222 Terex Corporation also reported an overall strong second quarter 2018 sales of US$1.4 billion, up 19% versus Q2 2017, with increased sales and backlog in all three business segments. The company said that results were driven by its ongoing corporate Execute to Win business strategy and during a period of broad-based growth.

The company said that the global cranes market is generally stable with growth in certain areas.

“Our tower crane business continues to grow driven by higher demand in Europe, North America and Asia and our utilities business continues to perform well in a relatively stable market environment,” said Steve Filipov, president of Terex Cranes.

“A critical element of our cranes improvement plan is to successfully introduce new products. The 3-axle Demag AC 55-3 all-terrain crane is the latest addition to our portfolio. By reinvigorating our product portfolio, we are re-establishing ourselves as a leader in the all-terrain segment.”

John Garrison, Terex Corporation chief executive, said the company increased sales and backlog in all three segments and increased production to meet strong global demand. “Overall, it was a strong quarter that positions us very well going into the second half of the year.”

Finance & Funding

For more information on companies in this article

Related Content

  • Terex Cranes is bullish with strong results
    February 25, 2019
    Terex Cranes reports strong financial performance, with fourth quarter 2018 net sales of $1.2 billion. This performance is an increase of 16% compared with the $1.1 billion achieved for the fourth quarter of 2017. For the full year 2018, Terex reported net sales of $5.1 billion, an increase of 18% over the $4.4 billion achieved for 2017. Meanwhile Terex has also announced it plans to to sell its Demag Mobile Cranes business to the Japanese firm Tadano. In addition, Terex Cranes will exit the mobile crane
    Read More
  • Wacker Neuson sees business growth with strong results
    November 10, 2017
    The Wacker Neuson Group is reporting a strong third quarter performance for 2017. The company’s latest results reveal a marked increase in revenue and earnings and says it remains positive about the fourth quarter of 2017. Wacker Neuson says it expects its revenue and earnings forecast for the current fiscal year to come in at the higher end of previous forecasts. The Wacker Neuson Group reported revenue of € 378.7 million for the third quarter of 2017. This corresponds to an increase of 20% over the €315.
    Read More
  • Crane coverage for Turkish firm
    March 24, 2017
    Turkish crane rental Coskun Vinç is expanding coverage of the market with new additions to its fleet. These new all-terrain cranes are being delivered in 2017 and are a Demag AC 500-8 and an AC 220-5. Coskun Vinç owners Servet and Sedat Coskun selected the two Demag models after consulting with newly appointed Terex Cranes president Steve Filipov and Kerim Basakinci, owner of DAS, Terex Crane’s Turkish distributor. “We were pleased when Terex brought back the Demag brand earlier this year,” said Sedat Co
    Read More
  • Volvo CE benefits from strong sales of construction machines
    July 18, 2019
    Volvo CE reports strong financial performance on the back of healthy sales. The firm says that improvements in the key European and North American markets, coupled with a strong focus on its service business, volume flexibility in the industrial system and tight cost control have helped the company to deliver a good all round performance in its second quarter 2019 results. Net sales in the second quarter increased by 10%, amounting to SEK 26.814 billion, compared with SEK 24.403 billion in Q2 2018. Operati
    Read More

Highlighted Content