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.
Fool contributor Christopher Barker captains yachts and writes about stocks. He can also be found blogging actively and acting Foolishly within the CAPS community under the username TMFSinchiruna. He owns shares of Caterpillar. The Motley Fool has a disclosure policy.