Supply Chain Challenges Disrupt Terex's Otherwise Solid Performance
No-moat Terex missed consensus GAAP EPS by $0.22 as supply chain constraints hindered the crane segment’s operating performance. Despite this underperformance, overall revenue grew 11% year over year. While the magnitude of the miss is surprising, two of Terex’s three segments performed well. Materials processing, or MP, and aerial work platforms, or AWPs, saw year-over-year revenue gains of 13.6% and 13.9%, respectively, while cranes declined 0.2%. We feel the supply chain constraints are merel...Terex is a global manufacturer of aerial work platforms, materials processing machinery and cranes. The company has two segments: Aerial Work Platforms, which designs, manufactures, services and markets aerial work platform equipment, utility equipment, telehandlers and light towers, including portable material lifts, self-propelled articulating and telescopic booms, scissor lifts, and trailer-mounted light towers as well as, their related components and replacement parts; and Material Processing, which designs, manufactures and markets materials processing and other equipment, including crushers, washing systems, apron feeders, conveyors, and their related components and replacement parts.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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