04.09.2008

Terex revises forecasts

Terex has announced that it is updating its 2008 full year forecasts and providing quarterly guidance due to changing market conditions, particularly a softening aerial lift and construction equipment market.

Full year 2008 earnings per share estimates are now around seven percent lower than orginally predicted, but still nine to 14 percent up on 2007. Meanwhile net sales forecasts for the full year have been trimmed by around 2.5 percent to $10.2 to $10.6 billion.

Ron DeFeo, Terex chairman and chief executive said: “While our Cranes and Materials Processing & Mining segments continue to perform better than our expectations, continued market softening and input costs in the Aerial Work Platforms and Construction segments in Western Europe and the United States are expected to more than offset those positive factors.”