Terex Corporation

Greetings and welcome to Tareq's first quarter 2022 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 turn the call to your host, Randy Wilson, Director of Investor Relations.

Good morning and welcome to the Terex first quarter 2022 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. I'm joined by John Garrison, Chairman 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 two 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. In addition, we will be discussing non-GAAP information that we believe is useful in evaluating the company's operating performance. Reconciliations for these non-GAAP measures can be found in the conference call materials. Please turn to slide three, and I'll turn it over to John Garrison.

Thank you, Randy, and good morning. I'd like to welcome everyone to our earnings call and appreciate your interest in Terex. I would like to begin by thanking all Terex team members for their efforts in this challenging global operating environment with production disruptions and COVID impacts. Team members are working diligently to improve our performance for customers and shareholders. We are seeing strong global customer demand in our business. Bookings of $1.8 billion increased 19% year over year. Record backlog of $3.5 billion increased 17% sequentially and 73% compared to prior year. The global operating environment has become increasingly difficult and unpredictable. With that said, our supply chain team members are working hard to minimize production disruption and to deliver for our customers. Next, let me take a moment to address the war and its impact on Terex.