Terex Provides 2017 Guidance - Quick Facts

(RTTNews) - Terex Corp. (TEX) announced, the company expects 2017 earnings per share of between $0.60 and $0.80, excluding restructuring, impact from ownership interest in Konecranes, and other unusual items, on net sales of approximately $3.9 billion.

John Garrison, Terex CEO, said: "Looking ahead to 2017, we expect our primary global markets to remain challenging. We anticipate lower fleet replacement demand from North American AWP rental customers. The global Crane market remains challenging and we expect a further decline in 2017. We anticipate modest growth in our Materials Processing business."

Terex announced that its Board authorized a new share repurchase program of up to $350 million to commence upon completion of the company's current $200 million program, which has approximately $70 million remaining. The Board also declared a quarterly dividend of $0.08 per share, an increase of 14% over the 2016 quarterly amount. The dividend will be paid on March 20, 2017 to shareholders of record as of March 10, 2017.