Last year was brutal for crane and construction machinery manufacturer Terex (NYSE:TEX), but the company may not be getting enough credit for some of its strategic moves. The acquisition of Demag will make Terex a more diverse business (operationally and geographically), while signs of life in construction could fuel a return to decent margins and returns.
A More Constructive Fourth Quarter
Looking at a range of companies like Caterpillar (NYSE:CAT), Manitowoc (NYSE:MTW), and Deere (NYSE:DE), it's pretty clear that construction spending was solid on a global basis in the fourth quarter. Terex went along for the ride with reported sales growth of nearly 48% (and almost 20% excluding the acquisition of Demag).
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