![]() ![]() We will continue our investments to enable longer-term growth."Ĭhief financial officer John Sheehan added: "Aggressive working capital management drove $43 million of free cash flow in the quarter and $183 million of free cash flow year to date. We remain confident in our team's ability to manage through current market conditions and emerge with stronger customer and supplier relationships. "We will close out full year 2021 with strong backlog, continued cost discipline, and positive free cash flow. Price increases are being clearly communicated with our customers and distributors and we will be implementing further price increases." "Our commercial excellence initiatives are demonstrating results, as pricing actions continue to partially offset accelerating cost inflation. I am pleased how our team members have worked tirelessly to help overcome these external headwinds." We are driving our suppliers on availability and cost to reduce the impact on our customers and distributors. Our ability to meet this high level of demand is constrained by supply chain, labour, freight and logistics challenges. Net debt has been halved in the past 12 months to $335 million.Ĭhief executive John Garrison said: "End market demand remains exceptionally strong demonstrated by significant year over year growth in orders, backlog and a robust book to bill ratio. The Terex Crane business is sadly now buried within the Material Processing division, which also posted strong quarter and year to date numbers. ![]() Terex as a whole reported revenues of $2.9 billion for the nine months with a pre-tax profit of $195.5 million compared to a loss this time last year of $10.8 million. Looking at the third quarter, sales jumped 28.7 percent to $572.5 million, while operating profits increased from $13.3 million to $34.9 million. The backlog/order book at the end of September was $1.705 billion, three and a half times the $478 million it was a year ago. Starting with the year to date numbers, Genie revenues improved 20 percent to $1.644 billion, with an operating profit of $126.7 million, compared to just $2.4 million for the same period last year. Terex has reported its third quarter results, which show a strong pick up in orders, sales and profits. ![]()
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