Terex Q2 EPS $2.08 adj $2.16; guides FY EPS $7.15-$7.45; announces ESG acquisition

TEREX CORP

2024-Q2 EPS reported $3.68 revenue$2,674,200,000

Net sales $1.4B flat YoY; income from operations $193M (14.0% margin); GAAP EPS $2.08, adjusted EPS $2.16.
FY adjusted net sales outlook lowered to $5.1-$5.3B (prev. $5.2-$5.4B); adjusted EPS raised to $7.15-$7.45 (prev. $6.95-$7.35).
Materials Processing sales -14% YoY to $498.6M (15.4% margin); Aerial Work Platforms +6.9% to $881.8M (15.2% margin).
Agreement to acquire Environmental Solutions Group (ESG); expected close H2 2024; described as accretive and non-cyclical.
Liquidity $879M; net leverage 0.5x; returned $50M via buybacks/dividends; FY free cash flow guidance $325-$375M.

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