Terex AWP sales down

By Lindsey Anderson31 October 2019

Terex Aerial Work Platforms (AWP), which includes Genie and Terex Utilities, reported a -14% decrease in sales for the fourth quarter and an overall decrease in AWP sales of -4% for the year. 

The Terex AWP business segment reported net sales of $628 million for the fourth quarter, down from $729 million during Q3 2018. For the full year, reported AWP sales were $2.2 billion, down from 2018’s $2.3 billion. 

Global Terex AWP backlog totaled $494 million and bookings in the quarter were $367 million. 

“It has become clear that we are in a softening environment for industrial equipment,” stated John Garrison, Terex chairman and CEO. “Demand in the major markets for Aerial Work Platforms (AWP) has declined, putting pressure on sales. We reduced AWP production in the third quarter and have made further reductions in the fourth quarter to align with the market, which is impacting margins.”

Matt Fearon, Genie president, Terex AWP, said, “At every point in the equipment cycle, our global teams focus on meeting the needs of our customers. While we are taking steps to align production levels and cost structure with the current environment, we will continue to invest in product development, innovation and technology that enhances our value proposition with our customers.

“I am encouraged by our performance in China where growth continues to be driven by customers adopting our advanced products, and we are excited about our long-term growth prospects across the Asia-Pacific region.

“The Terex Utilities team continues to execute well in a more stable market environment, and the new, state-of-the-art manufacturing facility that we are building in Watertown, S.D., remains on schedule.”

Garrison added, “Looking at the global market environment, it has become clear that we are in a softening environment for industrial equipment, which is putting pressure on our global sales and booking levels.”

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Access, Lift & Handlers Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Featured Training From Easybook
NYC SST Online Training

The clock is ticking… Construction workers in New York City – have you fulfilled your required Site Safety Training (SST)? Get your SST card online now

Latest Events
Last chance to register for the virtual ALH Conference
The ALH Conference is set to kick off (virtually) at 9 a.m. CST on Tuesday, Sept. 14. This is your last chance to register for the live event
ALH Conference shifts to virtual format
The ALH Conference, set for September 14, will be held online, ALH and KHL Group have announced. Registration is now open
ARA Show: Rental-ready
The ARA Show will return to Las Vegas this October for the first time in eight years. ALH provides a preview to the all-things-rental event.
Off-Highway Research

The gold standard in market research

Off-Highway Research offers a library of more than 200 regularly updated reports, providing forensic detail on key aspects of the construction equipment industry.

Our detailed insights and expert analyses are used by over 500 of the world’s largest and most successful suppliers, manufacturers and distributers, to inform their strategic plans and deliver profitable growth.

Click here to visit our website

CONNECT WITH THE TEAM
Lindsey Anderson Editor, Access, Lift & Handlers Tel: +1 312 929 4409 E-mail: lindsey.anderson@khl.com
Tony Radke Sales Manager Tel: +1 480 478 6302 E-mail: tony.radke@khl.com
CONNECT WITH SOCIAL MEDIA