Terex Guides FY22 Below Street View

(RTTNews) - While reporting its fourth-quarter results, Terex Corp. (TEX) issued an outlook for the full year 2022.

The company now expects sales of $4.1 billion to $4.3 billion and earnings of $3.55 to $4.05 per share for 2022. Analysts polled by Thomson Reuters currently expect revenues of $4.42 billion and earnings of $4.14 per share for 2022.

CEO John Garrison Jr. said, "Customer demand remains strong for our products and services. The entire organization remains focused on overcoming supply disruptions to increase production and deliver for our customers."

For the fourth quarter, the company reported net income of $58.0 million or $0.82 per share, up from $14.9 million or $0.21 per share last year. The company's revenue for the quarter rose to $990.1 million from $786.7 million last year.

Analysts had expected earnings of $0.55 per share on revenues of $953.47 million for the quarter.