Terex Corporation discloses first quarter loss

Terex Corporation has reported a first quarter 2020 loss from continuing operations of $(24.7) million, or $(0.35) per share, on net sales of $833.6 million.

In the first quarter of 2019, the reported income from continuing operations was $57.2 million, or $0.79 per share, on net sales of $1.1 billion. This compares to income from continuing operations, as adjusted, of $62.3 million or $0.87 per share in the first quarter of 2019. 

“First and foremost, we have taken measures to prioritize the health and safety of our team members, families and customers during the Covid-19 pandemic,” said John L. Garrison, Jr., chairman and CEO, Terex. ”While the first two months of the year met our expectations, during March, global economic activity, including customer capital equipment purchases, sharply contracted. In response to this unprecedented situation, we swiftly implemented safety, financial and production actions.”