Terex posted an income from continuing operations in the third quarter of 2014 of USD58.7 million, compared with USD84.5 million in the same period of 2013. Net sales were USD1.8 billion in the third quarter of 2014, compared with USD1.75 billion in the same period of 2013.”Our results from the third quarter were in line with revised guidance communicated in mid-September,” said Terex chairman and ceo, Ron DeFeo.”Our cranes segment met our lowered expectations for the quarter as end markets remain challenged. However, despite continued market environment challenges, we are anticipating sequential improvement from cranes in the fourth quarter,” added DeFeo.Commenting on Terex’s outlook, DeFeo said that due to the challenge of predicting market improvements, the company would be assuming “flat markets” and only performance improvements it can control in the near term.”Consequently,” he said, “we now expect our annual outlook for earnings per share to be at or near the bottom of our previously announced range of USD2.35 to USD2.50, excluding restructuring and other unusual items, on net sales of between USD7.3 billion and USD7.5 billion.” www.terex.com
Though the month has just begun, this December is already marked as the third wettest December in Miami’s history, according to the National Weather Service. Rainfall has reached a total 7.67 inches. A cool front slid down across the state Thursday, December 3 then slowed and stalled right over the southern part of the state Friday and Saturday. During that three day period, a total of 7.67 inches of rain fell. Normally a common place in the subtropics to see heavy rain, this event fell in the midst of what is known as the dry season.This weekend downpour alone caused flooding in Kendall and Homestead, leaving many stranded.