Terex Corporation (NYSE:TEX) Q4 2023 Earnings Call Transcript

So obviously, we look at our pipeline of inorganic opportunities, but we’re also very much looking at what we can do organically. So, everything is on the table is what I would say. And what makes my job a lot easier, quite frankly, as incoming CEO is we have a lot of operational momentum going into 2024. We have posted very strong improvements, 2023 versus 2022, up 300 basis points on operating margin as Terex overall, growing 17%. A lot of strong operational momentum. And I would say my first priority should be and will have to be to make sure we keep our operational momentum going forward into 2024. But to your point, with the strong balance sheet that we have, we do have optionality, but we’ll hold it against everything else that we have on the table.

Jerry Revich: Super. Appreciate it, Simon. And can I ask in terms of in Europe, there’s an anti-dumping investigation on China product for AWP. Can you just talk about your position in that investigation and the opportunities and potential risks that you see for yourself and others and the timeline that you expect the decision?

Simon Meester: Yeah, thanks for the question. Yeah, we learned about the petition in Europe. We support the petition overall against illegal dumping of equipment in Europe or in any market for that matter. Our position is that we support fair competition in any market. We believe that a level-playing field is essential and is in the best interest of all stakeholders, team members, jobs, customers, suppliers, shareholders. And so, yeah, we were made aware of the petition that was filed in December. We’re working with the European Commission and are responding to their request as required. We’re eager — we’re monitoring the case and we’re awaiting whatever the outcome may be. And our strength is that we have the global footprint. We are pretty flexible. We have leverage. We have optionality in our footprint. So, whatever the outcome will be, we’re looking forward to it, and we’ll be able to respond.

Jerry Revich: Thank you, Simon.

Simon Meester: Thank you.

Operator: That is all the time we have for questions. I will turn back to Simon for closing remarks.

Simon Meester: All right. Thank you, operator. I want to thank everyone for the questions. I’m looking forward working with you. I want to thank you for your interest in Terex. If you have any additional questions going forward, please follow-up with Julie, John or Paretosh. And with that, operator, please disconnect the call.

Operator: Thank you. This concludes today’s call. We thank you for joining. You may now disconnect your lines.