Terex expects to soon announce income from continuing operations of $111.3 million, or $1.45 per share, on net sales of $5.1 billion in 2018.
With a busy year for construction and crane sales up, Terex income from continuing operations, as adjusted, for the full year 2018 is expected to be $208.6 million, or $2.71 per share.
The company will next week release both fourth-quarter and full-year results.
These 2018 results, pending realization, include a one-time, non-cash charge of $67 million related to the annuitization of the company’s U.S. pension plan in the fourth quarter. (That process involves converting an annuity investment into a series of periodic income payments.)
Terex says it will release more financial detail and 2019 guidance just before an investors’ conference call February 27.
|YTD 2018||Income (loss) from
Income Taxes (1)
per share (2)
|As Reported (GAAP)||$||148.7||(37.4||)||111.3||$||1.45|
|Restructuring & Related||14.7||(2.8||)||11.9||0.16|
|Extinguishment of Debt||0.7||(0.1||)||0.6||0.01|
|Tax Related (3)||—||10.3||10.3||0.13|
|As Adjusted (Non-GAAP)||$||268.1||(59.5||)||208.6||$||2.71|
(1) Tax effect on adjustments is calculated using the applicable jurisdictional blended tax rate
(2) Based on diluted average shares outstanding of $76.9 million
(3) Includes adjustments without related pre-tax amounts and the tax amount necessary to align quarterly tax expense (benefit) with the forecasted full year as adjusted effective tax rate