Just as technology conglomerate 3M
Though more of a sales target than a management ethos, Terex
Terex crushed average analyst expectations by 17%, with earnings per diluted share rising 40% from the prior year to $2.32. Thanks to considerable strength from the company's cranes and materials processing and mining segments, net sales rose to $2.9 billion. Terex is projecting 2008 net sales of $10.5 billion to $10.9 billion. The operating margin rose 50 basis points to $12.6%.
Mirroring observations by competitor Caterpillar
Terex still enjoys a monstrous sales backlog for the next 12 months of $4.22 billion, well above the $2.4 billion reported by Joy Global
Terex recently sold the world's largest mobile hydraulic excavator to a Canadian client for use in the oil sands. No matter the buyer, whether a major player like Canadian Natural Resources
Thanks to the global commodity boom, I expect Terex to reach its revenue and margin goals one giant excavator at a time. The "12 by 12 by 10" looks well within reach to this Fool.