Terex chairman and chief executive officer John L. Garrison, Jr. has released financial results for the 2022 full year, hailing the fourth quarter as "an excellent finish to a strong year”.

“We successfully navigated complex global macro dynamics to deliver significant revenue and earnings growth,” he says, adding that the results showcase the strength of the company’s portfolio of diverse market-leading businesses.

"We were able to achieve price cost neutrality for the full-year, despite global supply chain disruptions and considerable inflationary pressures. 

“Our team remains focused on executing our multi-year growth plan as highlighted at our December Investor Day. We entered 2023 with (an order) backlog of USD4.1 billion, an increase of 22% year-over-year, clearly showing strong demand from our customers. Our globally recognised brands, industry-leading and innovative new products, robust backlog, and balance sheet position us well to manage our business amidst continued macroeconomic volatility.”

Garrison expects 2023 sales to be between USD4.6 and USD4.8 billion.