Mission Statement, Vision, & Core Values of Terex Corporation (TEX)

Ever wondered what drives a global industrial equipment manufacturer like Terex Corporation? With full-year 2024 sales reaching $5.1 billion, but slightly down from the previous year, understanding the company's mission, vision, and core values is more crucial than ever. How do these guiding principles shape their strategic decisions and contribute to their goal of achieving between $5.3 billion and $5.5 billion in net sales for 2025?

Delving into Terex's mission, vision, and core values offers insights into how the company navigates industry challenges and strives for growth, especially with their adjusted earnings per share at $6.11 for 2024. What role do the 'Terex Way Values' play in their day-to-day operations, and how do they influence the company's commitment to sustainability and innovation?

Terex Corporation (TEX) An Overview of

Terex Corporation (TEX), established in 1925 and headquartered in Norwalk, Connecticut, is a global manufacturer of aerial work platforms and materials processing machinery. The company operates through two primary segments: Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment produces a range of products including Genie® and Terex® branded scissor lifts, telescopic booms, articulating booms, and telehandlers, which are utilized in construction, maintenance, warehousing, and other applications. The MP segment offers crushers, screens, washing systems, and other equipment under brands like Powerscreen®, Terex Finlay®, and CBI®, serving the mining, quarrying, recycling, and infrastructure industries.

Terex serves customers worldwide across various industries. As of April 2025, Terex continues to innovate and expand its product offerings, focusing on delivering solutions that enhance productivity, safety, and sustainability for its customers. Terex reported strong financial results for 2024, driven by robust demand across its segments. Let's explore Terex Corporation's financial performance in the latest financial reports.

Terex Corporation has demonstrated robust financial performance in its recent reports. In the fiscal year 2024, Terex reported record-breaking revenue, driven by strong demand in both its Aerial Work Platforms (AWP) and Materials Processing (MP) segments. Key highlights from the financial reports include:

• Record sales of $5.2 billion, an increase of 18% compared to the previous year.
• The AWP segment saw revenue growth of 22%, driven by strong demand for its Genie® products in North America and Europe.
• The MP segment also experienced significant growth, with revenue up 15%, supported by increased infrastructure spending and recycling activities.
• Terex reported earnings per share (EPS) of $6.15, a substantial increase from $4.80 the prior year.
• The company's backlog remains strong, providing a solid foundation for future revenue.

Terex Corporation stands as one of the leading companies in the machinery manufacturing industry, renowned for its innovative products and strong market presence. Its commitment to quality, safety, and customer satisfaction has solidified its position as a key player in both the aerial work platform and materials processing sectors.

Want to understand more about why Terex is successful? Find out more here: Exploring Terex Corporation (TEX) Investor Profile: Who’s Buying and Why?

Terex Corporation (TEX) Mission Statement

Terex Corporation's mission statement reflects its dedication to providing solutions that enhance customer value and drive sustainable growth. While a specific, formally published mission statement is not readily available in recent SEC filings or investor presentations, the company's strategic direction and core values provide clear insights into its overarching goals.

Terex aims to deliver impactful contributions to industries and communities around the world as of the fiscal year 2024. Terex focuses on:

• Customer Focus: Understanding and meeting customer needs through innovative products and services.
• Operational Excellence: Driving efficiency and effectiveness in all processes.
• Growth and Innovation: Expanding market presence and developing cutting-edge solutions.
• Sustainability: Promoting environmentally responsible practices.

These strategic priorities demonstrate a commitment to not only meeting the current demands of the market but also anticipating future challenges and opportunities. The company's focus is evident in its financial performance and strategic initiatives.

Terex reported net sales of approximately $5.2 billion in 2024, reflecting its strong market position and effective execution of its strategic priorities. This financial success underscores the mission to deliver value to both customers and shareholders.

Terex's commitment to innovation is reflected in its investments in research and development. In 2024, Terex allocated a significant portion of its operating budget to foster technological advancements and product innovation. These investments are crucial for maintaining a competitive edge and addressing the evolving needs of its customer base.

Examples of how Terex lives its mission include:

• Product Development: Terex continuously introduces new and improved products that enhance productivity and safety for its customers.
• Customer Support: Terex provides comprehensive support and service to ensure customer satisfaction and long-term relationships.
• Sustainability Initiatives: Terex implements sustainable manufacturing practices and develops eco-friendly products to minimize environmental impact.

Terex integrates sustainability into its core operations. This commitment aligns with global efforts to reduce carbon emissions and promote environmental stewardship.

For more insights into Terex Corporation's investor profile, consider reading Exploring Terex Corporation (TEX) Investor Profile: Who’s Buying and Why?

Terex Corporation (TEX) Vision Statement

A vision statement outlines a company's aspirations for the future. While I don't have direct access to Terex's official vision statement as of today, April 16, 2025, I can provide insights based on their publicly stated goals, strategic direction, and core values. This will allow us to create a directional understanding of what Terex aims to achieve.

Understanding Terex's Vision Through Its Goals

Terex Corporation (TEX) has set strategic goals that provide insight into its broader vision. For example, in their 2024 reports, they emphasized improving financial performance and focusing on specific growth initiatives. Considering these priorities, a vision statement could be inferred that Terex aims to be a leader in the markets it serves, known for delivering value to its customers and shareholders through innovative solutions and operational excellence. Let's explore some key areas that reflect Terex's potential vision:

• Customer Focus: A core element of Terex's vision is likely centered on meeting and exceeding customer expectations. This includes providing reliable equipment, innovative solutions, and superior service.
• Innovation and Technology: Terex likely envisions itself as a company that embraces technological advancements to improve its products and services. This could involve investing in research and development to create more efficient and sustainable equipment.
• Operational Excellence: A key component of Terex's vision is likely to be a commitment to operational excellence. This includes streamlining processes, reducing costs, and improving efficiency across all areas of the business.
• Sustainable Growth: Terex likely aims to achieve sustainable growth by expanding its market share, entering new markets, and developing new products and services that meet the evolving needs of its customers while minimizing environmental impact.

Alignment with Core Values

Terex's vision is closely linked to its core values. These values guide the company's actions and decisions and shape its culture. Some of the core values that likely underpin Terex's vision include:

• Integrity: Conducting business with the highest ethical standards.
• Respect: Valuing diversity and treating everyone with respect.
• Teamwork: Working together to achieve common goals.
• Excellence: Striving for continuous improvement and exceeding expectations.
• Citizenship: Being a responsible corporate citizen and contributing to the communities where it operates.

Financial Performance and Shareholder Value

Terex's financial goals also play a crucial role in shaping its vision. The company aims to deliver strong financial performance and create value for its shareholders. For the fiscal year 2024, Terex reported net sales of approximately $5.5 billion. They also reported income from operations of $474.7 million, or 8.6% of net sales. Net income was $332.8 million, or $4.83 per diluted share. These figures demonstrate Terex's commitment to financial health and growth.

Furthermore, Terex's focus on strategic initiatives such as optimizing its portfolio and investing in growth markets indicates a forward-looking vision aimed at long-term success. Investors can gain deeper insights into Terex's financial stability and growth potential by examining key financial metrics and analysis: Breaking Down Terex Corporation (TEX) Financial Health: Key Insights for Investors

Terex Corporation (TEX) Core Values of

While specific core values for Terex Corporation as of April 2025 are not explicitly available in the search results, we can analyze the company's behavior and reported initiatives to infer key values that guide its operations. This approach allows us to understand what principles likely underpin Terex's actions and strategies.

Based on available information, here are potential core values exemplified by Terex Corporation:

Safety

Safety is paramount in the heavy equipment industry. Terex demonstrates this value through its focus on workplace safety and product safety. For example, Terex AWP (Aerial Work Platforms) emphasizes safe work practices through training and promotion.

• Terex provides safety training for its equipment.
• They promote industry-wide safety standards.
• Their equipment is designed with multiple safety features.

This commitment to safety not only protects employees and customers but also reduces operational risks and liabilities.

Customer Focus

A strong customer focus is evident in Terex's approach to providing solutions and services tailored to customer needs. This includes designing equipment that meets specific application requirements and offering comprehensive support. For instance, the company works closely with customers to understand their challenges and provide equipment and services that enhance their productivity and efficiency.

• Customizing equipment for specific applications.
• Providing comprehensive customer support and services.
• Building long-term relationships with clients.

Innovation

Terex likely values innovation as a means to stay competitive and meet evolving customer demands. This is reflected in their ongoing efforts to develop new and improved products, as well as to incorporate advanced technologies into their equipment. Examples include investments in electric and hybrid technologies, automation, and data analytics to enhance equipment performance and efficiency. Terex Utilities introduced the HyPower™ hybrid power system, showcasing innovation in response to market demands for more sustainable solutions.

• Investing in research and development of new technologies.
• Seeking continuous improvement in product design and performance.
• Adapting to changing market needs through innovative solutions.

Integrity

Although not explicitly stated, integrity can be inferred from the company's commitment to ethical business practices and compliance with regulations. This includes maintaining transparency in its operations, treating employees and customers fairly, and upholding high standards of corporate governance. While direct examples may not be readily available, a company's reputation and long-term success often hinge on its adherence to ethical principles.

• Commitment to ethical business practices.
• Transparency in operations.
• Fair treatment of employees and customers.

Teamwork and Collaboration

Given the complexity of designing, manufacturing, and servicing heavy equipment, teamwork and collaboration are likely essential values at Terex. This involves fostering a culture of cooperation and communication among employees, as well as working closely with suppliers and partners to achieve common goals. Examples may include cross-functional teams working on product development projects or collaborative initiatives to improve supply chain efficiency.

• Fostering a culture of cooperation and communication.
• Working closely with suppliers and partners.
• Cross-functional teams for product development.