Terex Corporation (NYSE:TEX) Q1 2024 Earnings Conference Call April 26, 2024 8:30 AM ET
Company Participants
Neil Frohnapple - VP of IR
Simon Meester - President and CEO
Julie Beck - SVP and CFO
Conference Call Participants
Jamie Cook - Truist Securities
Stanley Elliott - Stifel
Steve Fisher - UBS
David Raso - Evercore ISI
Steve Volkmann - Jefferies
Nicole DeBlase - Deutsche Bank
Tami Zakaria - JPMorgan
Jerry Revich - Goldman Sachs
Steve Barger - KeyBanc Capital Markets
Angel Castillo - Morgan Stanley
Operator
Greetings and welcome to the Terex First Quarter 2024 Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder this conference is being recorded.
It is now my pleasure to introduce your host Neil Frohnapple, Vice President of Investor Relations.
Neil Frohnapple
Good morning and welcome to the Terex First Quarter 2024 Earnings Conference Call. A copy of the press release and presentation slides are posted on our investor relations website at investors.terex.com. In addition, the replay and slide presentation will be available on our website.
We are joined by Simon Meester, President and Chief Executive Officer, and Julie Beck, Senior Vice President and Chief Financial Officer. Their prepared remarks will be followed by Q&A. Please turn to Slide 2 of the presentation, which reflects our Safe Harbor Statement. Today's conference call contains forward-looking statements, which are subject to risks that could cause actual results to be materially different from those expressed or implied. These risks are described in greater detail in the earnings materials and in our reports filed with the SEC.
In addition, we will be discussing non-GAAP financial information we believe is useful in evaluating the company's operating performance. Reconciliation for these non-GAAP measures can be found in the conference call materials. Please turn to slide four and I'll turn it over to Simon Meester.
Simon Meester
Thanks, Neil, and good morning. I would like to welcome everyone to our earnings call and appreciate your interest in Terex. I'd like to begin by thanking all Terex team members for delivering outstanding performance in Q1. The team executed really well and delivered strong results to start the year with. We increased sales by 5% and expanded operating margins by 20 basis points from last year.
The company also delivered earnings per share of $1.60 in the quarter and achieved a return on invested capital of more than 27%. These outstanding results demonstrate our ability to execute as the team continues to perform at a high level. Additionally, we're raising our 2024 sales and profit outlook and now expect earnings per share in the range of $6.95 to $7.35.