NYSE$TEX
Terex Corporation · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Achieved strong financial results driven by strong customer demand and disciplined cost control.
Terex reported an excellent fourth quarter with EPS of $0.82, nearly quadrupling year-over-year. Sales were up 26% year-over-year, and the company ended 2021 with a record backlog of $3 billion, up 122%. Focused cost management continued, resulting in 300 basis points of operating margin improvement.
- EPS of $0.82 nearly quadrupled year-over-year.
- Sales were up 26% year-over-year.
- Ended 2021 with a record backlog of $3 billion, up 122%.
- Operating margin improved 300 basis points.
Headline financials
Revenue & EPS history
Terex · Revenue · Quarterly
$990M
Revenue by segment
Terex · $454M total across 1 segment · Q4 2021
- Materials Processing$454M+23.9%100.0%
Forward guidance
The company anticipates EPS of $3.55 to $4.05 based on sales of approximately $4.1 to $4.3 billion.
Tailwinds
- Sales will increase as customer demand remains strong.
- Pricing actions, along with manufacturing efficiencies, will offset cost pressures.
- SG&A reflects prudent investment in the business including our new product development, engineering and digital initiatives and remains at 11% of sales.
- Favorable interest and other expense, due to lower debt levels and interest rates.
- We have ample liquidity, with $867 million available to us at year-end, so we can manage and grow the business.
Headwinds
- Unfavorable foreign exchange headwinds due to a lower Euro exchange rate when compared to 2021.
- We have an unfavorable tax impact as our full-year effective tax rate is expected to normalize to approximately 20.5% as favorable, discrete items from 2021 are not expected to repeat.
- One-time items, both positive and negative, related to our bond refinancing and Genie administrative office relocation are not expected to reoccur.
- Traditional seasonality of sales is less applicable in 2022 as the supply chain environment has extended product deliveries.
- The significant increase in COVID cases in January and February around the world are impacting our production and suppliers’ deliveries.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
-0.3%
Avg return
Earnings day
-0.8%
Avg return
5 days after
-0.4%
Avg return
30 days after
40%
29 / 72 earnings
Positive
+26.7%
Q2 2012
Best reaction
-10.6%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | +3.3% | -6.5% | |
| Q4 2025 | +16.6% | +16.8% | +0.3% | |
| Q3 2025 | -2.3% | -19.3% | -19.0% | |
| Q1 2025 | +9.0% | +7.0% | +23.7% | |
| Q4 2024 | -3.1% | -5.0% | -14.6% | |
| Q3 2024 | -4.7% | -5.6% | +1.0% | |
| Q2 2024 | -10.6% | -17.7% | -13.6% | |
| Q1 2024 | -1.6% | -6.9% | +1.8% | |
| Q4 2023 | -8.0% | -13.9% | -8.5% | |
| Q3 2023 | -2.3% | -0.1% | +6.5% | |
| Q2 2023 | +2.1% | +1.7% | +1.4% | |
| Q1 2023 | +8.0% | +4.1% | +3.7% | |
| Q4 2022 | +11.7% | +10.0% | +3.4% | |
| Q3 2022 | +10.6% | +5.8% | +24.8% | |
| Q2 2022 | +6.3% | +9.5% | +1.0% | |
| Q1 2022 | +0.6% | +6.1% | +3.2% | |
| Q4 2021 | -3.8% | +0.1% | -13.0% | |
| Q3 2021 | +1.7% | +1.7% | -2.4% | |
| Q2 2021 | +1.2% | +3.6% | +10.9% | |
| Q1 2021 | +2.3% | +7.8% | +8.7% | |
| Q4 2020 | +0.6% | +2.5% | +20.6% | |
| Q3 2020 | -0.8% | +4.5% | +28.6% | |
| Q2 2020 | -3.1% | +0.7% | +2.6% | |
| Q1 2020 | -10.1% | -12.4% | +3.5% | |
| Q4 2019 | -8.3% | -7.9% | -40.1% | |
| Q3 2019 | -4.4% | +3.3% | -2.6% | |
| Q2 2019 | -2.1% | -14.0% | -28.8% | |
| Q1 2019 | -3.2% | -1.9% | -16.5% | |
| Q4 2018 | +0.2% | +7.1% | -0.5% | |
| Q3 2018 | -6.6% | -5.1% | -1.0% | |
| Q2 2018 | -6.6% | -5.0% | -8.7% | |
| Q1 2018 | +2.7% | +6.8% | +8.4% | |
| Q4 2017 | -3.0% | -5.1% | -10.2% | |
| Q3 2017 | -3.9% | -1.1% | +0.2% | |
| Q2 2017 | -4.5% | +0.2% | -2.1% | |
| Q1 2017 | -5.8% | -5.2% | -3.7% | |
| Q4 2016 | -1.8% | -5.2% | -6.5% | |
| Q3 2016 | -5.2% | -4.1% | +28.2% | |
| Q2 2016 | -3.3% | +1.5% | +0.6% | |
| Q1 2016 | -1.9% | — | — | |
| Q4 2015 | +8.1% | — | — | |
| Q3 2015 | -0.8% | — | — | |
| Q2 2015 | +0.5% | — | — | |
| Q1 2015 | -1.6% | — | — | |
| Q4 2014 | +6.6% | — | — | |
| Q3 2014 | -10.2% | — | — | |
| Q2 2014 | -7.6% | — | — | |
| Q1 2014 | -0.3% | — | — | |
| Q4 2013 | -3.9% | — | — | |
| Q3 2013 | +0.9% | — | — | |
| Q2 2013 | -3.8% | — | — | |
| Q1 2013 | +1.5% | — | — | |
| Q4 2012 | -7.0% | — | — | |
| Q3 2012 | -5.5% | — | — | |
| Q2 2012 | +26.7% | — | — | |
| Q1 2012 | +2.6% | — | — | |
| Q4 2011 | -2.3% | — | — | |
| Q3 2011 | -0.2% | — | — | |
| Q2 2011 | -10.6% | — | — | |
| Q1 2011 | +1.6% | — | — | |
| Q4 2010 | -7.5% | — | — | |
| Q3 2010 | +3.3% | — | — | |
| Q2 2010 | +7.5% | — | — | |
| Q1 2009 | +1.3% | — | — | |
| Q1 2010 | +6.7% | — | — | |
| Q4 2009 | -2.4% | — | — | |
| Q4 2007 | -2.4% | — | — | |
| Q3 2009 | -2.6% | — | — | |
| Q3 2008 | -2.6% | — | — | |
| Q2 2008 | +8.0% | — | — | |
| Q2 2009 | +8.0% | — | — | |
| Q4 2008 | +8.0% | — | — |
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