Track market-moving stories before they get noisy

, /PRNewswire/ -- Terex Corporation (NYSE: TEX) will host a conference call to review its second quarter 2026 financial results on Thursday, July 30, 2026 at 8:30 a.m. Eastern Time. Simon Meester, President and Chief Executive Officer, and Jennifer Kong-Picarello, Senior Vice President and Chief Financial Officer, will host the call.

The Company's financial results will be issued and available at https://investors.terex.com prior to the call the morning of Thursday, July 30, 2026.

Participants are encouraged to access the webcast 15 minutes prior to the starting time. The webcast will be available for replay at https://investors.terex.com.

About Terex
Terex Corporation is a global leader in specialized equipment solutions, serving essential sectors such as emergency services, waste and recycling, utilities, and construction. Our diversified portfolio positions us in resilient, high-demand markets with strong long-term growth potential.

We design and manufacture advanced specialty vehicles—including fire, ambulance, and recreational vehicles—alongside waste collection vehicles, materials processing machinery, mobile elevating work platforms, and equipment for the electric utility industry. Through our global dealer, parts and service network and true value-creating digital solutions, we deliver best-in-class lifecycle support, helping customers maximize return on investment.

With a strong manufacturing footprint in the United States and operations across Europe, India, and Asia Pacific, Terex combines global reach with local expertise to capture opportunities worldwide. Our strategy is clear: exceed customer expectations, invest in innovation, leverage our diversified portfolio, and deliver consistent, profitable growth for our shareholders.

For more information, please visit www.terex.com.

Contact Information
Drew Konop, CFA
VP Investor Relations
Email: [email protected]

SOURCE Terex Corporation

Investors looking for stocks in the Manufacturing - Construction and Mining sector might want to consider either Terex (TEX - Free Report) or Caterpillar (CAT - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Both Terex and Caterpillar have a Zacks Rank of #2 (Buy) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that these stocks have improving earnings outlooks. However, value investors will care about much more than just this.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

TEX currently has a forward P/E ratio of 14.39, while CAT has a forward P/E of 39.26. We also note that TEX has a PEG ratio of 1.09. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. CAT currently has a PEG ratio of 1.91.

Another notable valuation metric for TEX is its P/B ratio of 1.65. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, CAT has a P/B of 23.94.

These are just a few of the metrics contributing to TEX's Value grade of B and CAT's Value grade of F.

Both TEX and CAT are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that TEX is the superior value option right now.

The Zacks Manufacturing - Construction and Mining industry’s near-term outlook has been clouded by rising operating costs and supply-chain disruptions. A tough labor market also creates concerns for the industry.

Despite the current setback, the recent recovery in the manufacturing sector, increased infrastructure investment in the United States and demand from the mining sector, driven by the energy transition trend, will buoy the industry. Caterpillar Inc. (CAT - Free Report) , Terex Corporation (TEX - Free Report) and Hyster-Yale, Inc. (HY - Free Report) are poised to benefit from these trends. These companies’ emphasis on introducing technologically advanced products, productivity and efficiency enhancements will aid growth.

Industry Description The Zacks Manufacturing - Construction and Mining industry comprises companies that manufacture and sell construction, mining and utility equipment. They support customers using machinery in the construction of commercial, institutional and residential buildings, and infrastructure projects. Their equipment is also utilized in underground mining, drilling, mineral processing and surface mining to extract and haul copper, iron ore, coal, oil sands, aggregates, gold, and other minerals and ores. Their products are varied, including loaders, pavers, dozers, excavators, concrete mixer trucks, crushing, pulverizing and screening equipment, tractors and cranes. Industry participants support oil and gas, power generation, marine, rail and industrial applications through their reciprocating engines, generator sets, gas turbines and turbine-related services.

Trends Shaping the Future of the Manufacturing - Construction and Mining Industry Persistent Cost Pressures and Supply-Chain Challenges Remain a Headwind: The industry continues to grapple with elevated inflation across labor, freight and fuel, as well as tariff-related impacts. Disruptions linked to the Iran conflict have strained supply chains and increased overall cost pressures. The ISM Supplier Deliveries Index indicated slower delivery times for the sixth consecutive month in May, underscoring persistent logistics bottlenecks. At the same time, the ISM Prices Index remained elevated at 82.1%, marking 20 straight months of rising input costs. The annual inflation rate in the United States was 4.25% in May 2026, the highest level since April 2023. This represents the third consecutive monthly acceleration in headline inflation, with energy costs jumping 23.5% due to the conflict with Iran. To mitigate these challenges, industry participants are implementing pricing actions, optimizing costs, improving productivity and diversifying supplier networks. 

Manufacturing Sector Recovery Continues Despite Macro Uncertainties: The Institute for Supply Management’s manufacturing index rebounded with a 52.6% reading in January 2026 and has remained in expansion territory since, with the latest 54% in May.  A figure of more than 50% indicates an expansion in manufacturing activity. Industrial production edged up 0.1% in May after rising 0.9% in April. Over the 12 months ended May 2026, industrial production increased 1.7%. Although demand conditions have improved compared with last year, elevated oil and diesel prices, alongside ongoing geopolitical uncertainty, continue to weigh on sentiment, with many customers remaining cautious and adopting a wait-and-watch approach.

Energy Transition Trend, Construction Spending to Boost Demand: The intensifying global focus on shifting from fossil fuels to zero emissions will require a large number of commodities, which, in turn, will support mining equipment demand in the years to come. The U.S. government's plans to increase investment in infrastructure construction, particularly in critical subsectors, such as transportation, water and sewerage, and telecommunications, should support demand in the coming years.

Investments in Digital Initiatives Act as a Key Catalyst: Industry participants are investing in digital initiatives like AI, cloud computing, advanced analytics and robotics. Digital transformation aids organizations in boosting productivity and increasing efficiency, reliability and safety, thereby enriching customer satisfaction. With the pressing need to cut carbon emissions, companies worldwide are relying more on autonomous machinery. Thus, players in the industry are stepping up their research and technological capabilities to bring products equipped with the latest technology into the market.

Zacks Industry Rank Indicates Weak Prospects The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates dim prospects in the near term. The Zacks Manufacturing - Construction and Mining industry, which is part of the broader Zacks Industrial Products Sector currently, carries a Zacks Industry Rank #184, which places it at the bottom 25% of 245 Zacks industries.

Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.

Before we present a few stocks that you may want to consider for your portfolio, let us look at the industry’s recent stock-market performance and valuation picture.

Industry Versus Broader Market The Manufacturing - Construction and Mining industry has outperformed the sector and the Zacks S&P 500 composite over the past year.

Over this period, the industry has grown 135.5% compared with the sector’s growth of 28.7%. The Zacks S&P 500 composite has moved up 21.6%.

One-Year Price Performance
 Industry's Current Valuation The trailing 12-month EV/EBITDA ratio, a commonly used multiple for valuing Manufacturing, Construction and Mining companies, shows that the industry is currently trading at 23.83X compared with the S&P 500’s 18.21X and the Industrial Products sector’s trailing 12-month EV/EBITDA of 21.52X. The charts below show this.

Enterprise Value/EBITDA (EV/EBITDA) TTM Ratio

Enterprise Value/EBITDA (EV/EBITDA) TTM Ratio

Over the last five years, the industry traded as high as 25.10X and as low as 7.54X, with a median of 11.28X.

3 Manufacturing - Construction & Mining Stocks to Watch Caterpillar: The company delivered strong revenue and earnings growth in the first quarter of 2026, supported by higher volumes across all segments. Backlog reached a record $63 billion, and management lifted its 2026 sales growth outlook to low double-digits. Caterpillar has set a long-term revenue CAGR target through 2030 at 6-9%.  This will be supported by rising U.S. infrastructure spending, growing demand for mining equipment tied to the energy transition trend and the increased adoption of autonomous solutions. In Power & Energy, sustainability initiatives and data-center investments are driving demand. Caterpillar is also expanding its high-margin aftermarket business, with service revenues targeted to increase from $24 billion in 2025 to $30 billion by 2030. Caterpillar's cash and liquidity position remains strong, which enables it to invest in growth while returning cash to shareholders.  It recently announced an 8% increase in its quarterly dividend to $1.63 per share. CAT shares have gained 49% in the past three months.

The Zacks Consensus Estimate for CAT’s 2026 earnings has moved north 7.7% over the past 60 days and indicates year-over-year growth of 29.4%. CAT has a trailing four-quarter earnings surprise of 9.6%, on average, and an estimated long-term earnings growth rate of 20.5%. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Price & Consensus: CAT

Terex: The company has completed the merger with REV Group, creating a more diversified specialty equipment manufacturer with emergency, waste, utilities, environmental, material processing and access equipment. The transaction added the Specialty Vehicles segment, which generated $436 million of first-quarter 2026 sales and grew 20% year over year on a pro forma basis. The segment also produced adjusted EBITDA of $62 million and a 14.2% margin. Terex’s total backlog reached $7.1 billion, supported by a 109% book-to-bill ratio, while Specialty Vehicles had $4.5 billion of backlog and a combined book-to-bill of about 100% over the last two quarters.  The integration is expected to generate $75 million in annual run-rate synergies by 2028, including around $28 million in 2026. Terex’s cash conversion target, liquidity position and disciplined capital spending provide support for ongoing integration, organic investment and shareholder returns. TEX shares have gained 30.9% in the past three months. 

The Zacks Consensus Estimate for Terex’s 2026 earnings has moved north 0.6% over the past 60 days. TEX has a trailing four-quarter earnings surprise of 13%, on average. The company has an estimated long-term earnings growth rate of 13.2% and currently carries a Zacks Rank #3 (Hold).

Price & Consensus: TEX

Hyster-Yale: Stronger booking activity, a recovering backlog and pricing actions are expected to drive revenue growth in the second half of 2026. Higher-margin growth initiatives, continued cost-reduction measures and improvements in operational efficiency are also likely to support a recovery in operating profit. Management expects the gains in the latter half of the year to offset first-half losses, leading to a modest full-year operating profit and improved financial performance compared with 2025. Hyster-Yale remains committed to prudent liquidity management through working-capital optimization and disciplined control over capital spending and operating expenses. At the same time, investments in modular development and critical capital assets, including information technology, continue to underpin its long-term transformation strategy. HY shares have gained 14% in the past three months.

The Zacks Consensus Estimate for Hyster-Yale’s 2026 earnings has moved up 6.5% over the past 60 days. HY currently has a Zacks Rank of 3.

Price & Consensus: HY
 

On June 22, 2026, Terex Corp (TEX) shares rose 3.2% to a current price of $68.94. This recent uptick comes amidst a notable price performance, with the stock ra

OCALA, Fla.--(BUSINESS WIRE)--E-ONE, a leading manufacturer of fire apparatus and emergency vehicles, today announced a $23.5 million investment in its manufacturing facility that will expand the company's aerial production capacity by 35 percent and is intended to reduce lead times for fire departments ordering critical equipment needed to help keep their communities safe.

E-ONE, a leading manufacturer of fire apparatus and emergency vehicles, today announced a $23.5 million investment in its manufacturing facility that will expand the company's aerial production capacity by 35 percent.

Share Fire departments across North America are facing increasing demand for modern ladder trucks and aerial firefighting platforms to support urban and suburban emergency response. The expansion will enhance E-ONE’s ability to meet this growing demand while improving manufacturing efficiency across its Ocala campus.

"This investment reflects E-ONE's unwavering commitment to the firefighting industry," said Mike Virnig, President, Specialty Vehicles segment at Terex Corporation. "Every day of reduced delivery time means people and property are better protected, and that drives our continuous improvement in manufacturing excellence."

Key benefits of E-ONE’s facility expansion

Increase aerial production capacity: Expanded production capabilities will enable E-ONE to increase aerial output by 35 percent while helping to reduce delivery timelines.

Expand manufacturing facilities: The project includes expansion of the existing assembly, fabrication and paint facilities, as well as new construction to support ladder manufacturing and assembly operations.

Improve and expand paint facility: Doubling the size of paint operations will enhance production throughput, improve quality and increase overall efficiency.

Establish a ladder build center of excellence: A dedicated ladder manufacturing facility will address current production constraints and support future capacity expansion.

Focused aerial body assembly and completion: Construct a new, focused facility to allow increased assembly capability, flexibility, and line rate output within the aerial complex.

Reduce testing bottlenecks: Construction of a second test pit at the Ocala campus will eliminate a single point of failure and improve product flow across all E-ONE product lines.

A groundbreaking ceremony will be held at E-ONE’s facility in Ocala, FL in the next couple months to be attended by state and local legislators, local fire chiefs, E-ONE fire apparatus dealers and community leaders.

About E-ONE, Inc.

For over 50 years, E-ONE has been a leading fire apparatus manufacturer, making emergency vehicles, rescue trucks, aerial fire trucks, rescue pumpers and custom fire apparatus. Headquartered in Ocala, Florida, E-ONE is an industry leader in product innovations, new technologies and exceeding customer expectations. E-ONE is owned by Terex Corporation (NYSE: TEX)

About Terex

Terex Corporation is a global leader in specialized equipment solutions, serving essential sectors such as emergency services, waste and recycling, utilities, and construction. Our diversified portfolio positions us in resilient, high-demand markets with strong long-term growth potential. We design and manufacture advanced specialty vehicles—including fire, ambulance, and recreational vehicles—alongside waste collection vehicles, materials processing machinery, mobile elevating work platforms, and equipment for the electric utility industry. Through our global dealer, parts and service network and value-creating digital solutions, we deliver best-in-class lifecycle support, helping customers maximize return on investment. With a strong manufacturing footprint in the United States and operations across Europe, India, and Asia Pacific, Terex combines global reach with local expertise to capture opportunities worldwide. Our strategy is clear: exceed customer expectations, invest in innovation, leverage our diversified portfolio, and deliver consistent, profitable growth for our shareholders. For more information, please visit www.terex.com.

Posted by Defense World Staff on Apr 5th, 2026

SG Americas Securities LLC boosted its stake in Terex Corporation (NYSE:TEX – Free Report) by 147.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,032 shares of the industrial products company’s stock after purchasing an additional 23,875 shares during the period. SG Americas Securities LLC owned approximately 0.06% of Terex worth $2,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in shares of Terex by 565.8% during the third quarter. Smartleaf Asset Management LLC now owns 486 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 413 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Terex by 167.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 369 shares in the last quarter. Strs Ohio purchased a new stake in Terex during the 1st quarter worth $30,000. Rise Advisors LLC lifted its holdings in Terex by 108.9% in the 3rd quarter. Rise Advisors LLC now owns 1,274 shares of the industrial products company’s stock worth $65,000 after buying an additional 664 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in Terex by 137.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,641 shares of the industrial products company’s stock valued at $84,000 after buying an additional 951 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Transactions at Terex In related news, insider Kieran Hegarty sold 11,980 shares of Terex stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $69.24, for a total transaction of $829,495.20. Following the transaction, the insider directly owned 173,495 shares of the company’s stock, valued at $12,012,793.80. The trade was a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Terex Stock Down 0.2% Shares of Terex stock opened at $58.43 on Friday. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.18 and a beta of 1.64. Terex Corporation has a twelve month low of $31.53 and a twelve month high of $71.50. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 1.23. The business’s 50 day simple moving average is $62.71 and its 200-day simple moving average is $55.88.

Terex (NYSE:TEX – Get Free Report) last posted its earnings results on Wednesday, February 11th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.12. Terex had a net margin of 4.08% and a return on equity of 16.51%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business posted $0.77 EPS. Terex’s revenue was up 6.2% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.500-5.00 EPS. Equities research analysts forecast that Terex Corporation will post 4.83 earnings per share for the current year.

Terex Announces Dividend The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Friday, March 6th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.68 annualized dividend and a yield of 1.2%. Terex’s dividend payout ratio (DPR) is currently 20.42%.

Wall Street Analyst Weigh In Several research firms recently commented on TEX. Weiss Ratings reiterated a “hold (c)” rating on shares of Terex in a research note on Wednesday, January 21st. Morgan Stanley restated an “overweight” rating and set a $83.00 price objective on shares of Terex in a report on Tuesday, February 17th. Wells Fargo & Company upped their target price on Terex from $56.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Robert W. Baird set a $100.00 target price on Terex in a research note on Thursday, February 12th. Finally, Truist Financial lifted their price target on shares of Terex from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.18.

Read Our Latest Report on TEX

Terex Company Profile (Free Report)

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.

Featured Stories Five stocks we like better than Terex Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Corporation (NYSE:TEX – Free Report).

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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

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What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

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Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

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VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

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Stock to Watch: Terex (TEX - Free Report) Since its incorporation in 1986, Terex has evolved through strategic acquisitions disciplined portfolio management, divesting non-core businesses while strengthening focus on industrial equipment. 2025 was a transformational year, marking the successful integration of Environmental Solutions Group and the initiation of the merger with REV, which was concluded in February 2026. Terex is now a global industrial equipment manufacturer of materials processing machinery, waste and recycling solutions, mobile elevating work platforms (MEWPs), and equipment for the electric utility industry.

TEX is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Momentum investors should take note of this Industrial Products stock. TEX has a Momentum Style Score of A, and shares are up 7% over the past four weeks.

One analyst revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.08 to $5.14 per share. TEX also boasts an average earnings surprise of +24%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, TEX should be on investors' short list.

Wall Street expects a year-over-year decline in earnings on higher revenues when Terex (TEX - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 1. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis machinery products maker is expected to post quarterly earnings of $0.78 per share in its upcoming report, which represents a year-over-year change of -6%.

Revenues are expected to be $1.7 billion, up 38% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Terex?For Terex, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.90%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Terex will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Terex would post earnings of $1.12 per share when it actually produced earnings of $1.12, delivering no surprise.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Terex doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAmong the stocks in the Zacks Manufacturing - Construction and Mining industry, Caterpillar (CAT - Free Report) , is soon expected to post earnings of $4.54 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of +6.8%. This quarter's revenue is expected to be $16.42 billion, up 15.2% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Caterpillar has been revised 0.2% up to the current level. Nevertheless, the company now has an Earnings ESP of +1.14%, reflecting a higher Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Caterpillar will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Sales of $1.7 billion, up 41% on a reported basis, proforma sales up 11% Income from continuing operations of ($93) million, including significant non-cash and other merger-related charges Adjusted EBITDA7 of $173 million or 9.9% margin EPS from continuing operations of ($0.97) with an adjusted1 EPS from continuing operations of $0.98 Backlog grew to $7.1 billion, Book-to-bill of 109%, providing strong forward visibility Reaffirming 2026 Outlook5: Sales of $7.5 to $8.1 billion and EBITDA7 of $930 million to $1 billion, up $100 million or 12% year over year on a proforma13,14 basis with a 12.4% EBITDA margin at the midpoint , /PRNewswire/ -- Terex Corporation (NYSE: TEX), a global leader in specialized equipment, serving essential sectors such as emergency services, waste and recycling, utilities, and construction, today announced its results for the first quarter 2026.

CEO Commentary
"We are off to a good start and executing to plan, including the first 58 days with REV Group in our portfolio, now operating as our Specialty Vehicles (SV) segment, which made a meaningful contribution in the quarter. Our quarter-end backlog of $7.1 billion, supported by strong booking trends in Materials Processing, Aerials, and Terex Utilities, provides solid forward visibility. As a result, we are reiterating our full-year outlook," said Simon Meester, Terex President and Chief Executive Officer. "We continue to execute our strategy, including the integration of REV. We remain on track to deliver approximately $28 million of synergies in 2026 through the elimination of duplicate overhead and to achieve the full $75 million run-rate within our 24 month target."

First Quarter Operational and Financial Highlights

Backlog increased sequentially to $7.1 billion.  Bookings of $2.1 billion were down 1.1% year over year on a pro forma basis driven by timing of orders in ES and SV and reflects a book-to-bill of 109%.  Proforma bookings up 14% on a rolling six month basis. Net sales of $1.7 billion were 41.1% higher than the first quarter of 2025.  Proforma net sales grew by 11% year over year including growth in every segment. EBITDA was ($7) million, or (0.4%) of net sales, compared to $106 million, or 8.7% of net sales in the prior year.  Adjusted1 EBITDA was $173 million, or 9.9% of net sales for the first quarter of 2026, compared to $128 million, or 10.4% of net sales in the prior year. The year-over-year change was primarily due to the accretive addition of Specialty Vehicles, higher sales volumes in MP and operational improvement initiatives, partially offset by tariffs, which were not in effect in the prior year period, and unfavorable mix within Aerials, and product mix in ES. Income from continuing operations was ($93) million, or ($0.97) per share, compared to $21 million, or $0.31 per share, in the first quarter of 2025.  Adjusted1 income from continuing operations was $94 million, or $0.98 per share for the first quarter of 2026, compared to $55 million, or $0.83 per share, in the first quarter of 2025. Business Segment Review

Environmental Solutions

Net sales of $412 million were up 3.3% compared to the first quarter of 2025, driven by strong throughput and delivery of utilities products, partially offset by lower shipments of refuse collection vehicles. EBITDA was $73 million, or 17.7% of net sales, compared to $80 million, or 20.1% of net sales in the prior year.  Adjusted1 EBITDA was $74 million or 18.0% of net sales for the first quarter of 2026, compared to $81 million, or 20.3% of net sales in the prior year. The change was primarily due to unfavorable product mix, partially offset by higher sales volume and synergy realization. Materials Processing

Net sales of $419 million were up 9.7% or $37 million year over year, primarily due to higher shipment volumes across most product lines and geographies and positive effects of foreign exchange rates. On a pro forma13 basis, net sales were up 18.3% year over year, driven by growth in Aggregates, Material Handling and Recycling, partially offset by lower sales in Concrete.  EBITDA was $68 million, or 16.2% of net sales, compared to $41 million, or 10.8% of net sales in the prior year.  Adjusted1 EBITDA was $63 million, or 15.0% of net sales for the first quarter of 2026, compared to $43 million, or 11.2% of net sales in the prior year. The improvement was primarily due to higher sales volume, price realization and efficiency improvement. Specialty Vehicles

Net sales of $436 million were up 20% year over year on a pro forma13 basis, driven by growth in all product lines, partially due to weather-related delivery timing. EBITDA was ($53) million, or (12.2%) of net sales due to merger-related non-recurring items more than offsetting operational improvements.  Adjusted1 EBITDA was $62 million, or 14.2% of net sales for the first quarter of 2026, compared to $46 million, or 12.6% of net sales on a pro forma13 basis in the prior year. The improvement was primarily due to increased throughput, price realization and improved operational efficiency. Aerials

Net sales of $469 million were up 4.2% or $19 million year over year, primarily due to positive effects of foreign exchange rates. EBITDA and Adjusted1 EBITDA were breakeven, or 0.1% of net sales, for the first quarter of 2026, compared to EBITDA of $8 million, or 1.8% of net sales, and Adjusted1 EBITDA of $20 million, or 4.4% of net sales in the prior year. The change in Adjusted EBITDA was primarily due to tariffs, which the business did not incur this time last year. In addition, the business also faced some temporary unfavorable mix and timing of price realization. Balance Sheet and Liquidity

Free cash outflow7 of $57 million, similar to the prior year period. As of March 31, 2026, liquidity (cash and availability under our revolving line of credit) was $1.0 billion. During the first quarter of 2026, Terex deployed $26 million in capital expenditures and investments to support future business growth and operational improvements. Through March 31, 2026, Terex returned $19 million to shareholders through dividends and has approximately $183 million available for repurchase under our share repurchase programs. CFO Commentary
"Our overall first quarter operational financial results were consistent with our expectations.  Adjusted EPS for the quarter of $0.98 which included approximately $0.10 of tax favorability when the Q1 rate is compared to our 2026 full year expected tax rate of 21%.   Our operational EPS improvement was $0.05 compared to last year.  Notably our current Q1 EPS is based on 96.1 million diluted weighted average shares outstanding, up from 66.9 million diluted weighted average shares outstanding in the first quarter of 2025," commented Jennifer Kong-Picarello, Senior Vice President and Chief Financial Officer.  "I was also pleased with our net working capital efficiency improvement in the quarter which decreased to 16.7%, down 930 basis points compared with the prior year largely due to the addition of Specialty Vehicles.  Looking ahead, we are confirming our full year outlook, which includes the impact of the recent change in 232 tariffs which is expected to be negligible as the vast majority of our US sales are manufactured in the US."

2026 Outlook

With Q1 operational performance in line with our expectations, $7.1 billion in backlog, and end markets trending as anticipated, we are reiterating our full year outlook.  We expect 2026 sales to grow ~5% on a pro forma14 basis to $7.5 to $8.1 billion. We expect EBITDA to grow by ~$100 million or ~12% year over year on a pro forma14 basis to between $930 million and $1 billion, or 12.4% EBITDA margin at the mid-point. The EPS outlook of $4.50 - $5.00 includes the following assumptions/commentary:

11 months impact of the new Specialty Vehicle segment (former REV) ~$28 million of realized synergies for 2026, on-target to achieving a $75 million annual run-rate within 2 years Excludes the divested MP cranes and Midwest RV business results Current tariff rates to stay as-is, including the recently announced changes to 232 tariffs Interest of ~$190 million, consistent with pro-forma 2025 Full year effective tax rate of ~21% Full year average shares outstanding of 111 million for 2026, including ~115 million in Q2 to Q4 Terex Outlook4,5,6,10,11,12,14

Net Sales3

$7.5B - $8.1B

EBITDA1

$930M - $1B

EPS1,2

$4.50 - $5.00

FCF Conversion15

80% - 90%

Segment Net Sales Outlook5

Prior Year Baseline

2026

Environmental Solutions

$1,691

MSD

Materials Processing8

$1,578

HSD

Specialty Vehicles9

$2,179

HSD

Aerials

$2,060

Flat

Figures in millions

MSD = revenue up mid single-digits

HSD = revenue up high single-digits

Non-GAAP Measures and Other Items

Results of operations reflect continuing operations. All per share amounts are on a fully diluted basis.  A comprehensive review of the quarterly financial performance is contained in the presentation that will accompany the Company's earnings conference call.

In this press release, Terex refers to various GAAP (U.S. generally accepted accounting principles) and non-GAAP financial measures. These non-GAAP measures may not be comparable to similarly titled measures being disclosed by other companies. Management believes that presenting these non-GAAP financial measures provide investors with additional analytical tools which are useful in evaluating our operating results and the ongoing performance of our underlying businesses because they (i) provide meaningful supplemental information regarding financial performance by excluding impact of one-time items and other items affecting comparability between periods, (ii) permit investors to view performance using the same tools that management uses to budget, make operating and strategic decisions, and evaluate our core operating performance across periods, and (iii) otherwise provide supplemental information that may be useful to investors in evaluating our financial results. We do not, nor do we suggest that investors, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.

The Glossary at the end of this press release contains further details about this subject.

Conference call

The Company has scheduled a conference call to review the financial results on Friday, May 1, 2026 beginning at 8:30 a.m. ET.  Simon A. Meester, President and CEO, and Jennifer Kong-Picarello, Senior Vice President and Chief Financial Officer, will host the call. A simultaneous webcast of this call can be accessed at https://investors.terex.com. Participants are encouraged to access the call 15 minutes prior to the starting time. The call will also be archived in the Event Archive at https://investors.terex.com. 

1 Non-GAAP financial measures included within this press release are referred to as "Adjusted" or "non-GAAP." Refer to the glossary for definitions and/or reconciliations.

2 Full year share count ~111 million; Q2-Q4 share count ~115 million

3 Legacy sales expected to increase by 4% vs. 2025 excluding the tower and rough terrain cranes divestiture.

4 Outlook assumes that tariffs broadly remain at current rates.

5 Includes REV businesses for the period February 2 - December 31.

6 Excludes the impact of future acquisitions, divestitures, restructuring and other unusual items.

7 Free cash flow, EBITDA and Adjusted EBITDA are non-GAAP financial measures.

8 2025 comparable MP revenue excludes Cranes divestiture.

9 2025 comparable SV revenue shown on a pro forma basis reflecting February 2 - December 31 2025, excludes Lance & Midwest RV businesses

10 Interest / Other Expense ~$190 million

11 Tax rate ~21%

12 Depreciation & Amortization of ~$110 million excluding amortization pertaining to purchase price accounting

13 Pro forma information presents past performance as if certain events, such as mergers, acquisitions or divestitures, had occurred at an earlier date to illustrate comparable performance.

14 The Company is not able to reconcile these forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures without unreasonable efforts because the Company is unable to predict with a reasonable degree of certainty the exact timing and impact of such items.  See "Glossary _ Non-GAAP Measures Definition - 2026 Outlook" below for additional information.

15 Based on net income as adjusted.

Forward-Looking Statements

Certain information in this press release includes forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act") and the Private Securities Litigation Reform Act of 1995) regarding future events or our future financial performance that involve certain contingencies and uncertainties, including those discussed in Mr. Meester's and Ms. Kong-Picarello's quotations, our Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent reports we file with the U.S. Securities and Exchange Commission from time to time, in the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations – Contingencies and Uncertainties."  In addition, when included in this press release, the words "may," "expects," "should," "intends," "anticipates," "believes," "plans," "projects," "estimates," "will" and the negatives thereof and analogous or similar expressions are intended to identify forward-looking statements.  However, the absence of these words does not mean that the statement is not forward-looking.  We have based these forward-looking statements on current expectations and projections about future events.  These statements are not guarantees of future performance.  Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those reflected in such forward-looking statements.  Such risks and uncertainties, many of which are beyond our control, include, among others:

we may be unable to successfully integrate acquired or merged businesses, including REV Group, Inc. ("REV"), and we may not realize the anticipated benefits of any merged or acquired business; we may be unable to effectively manage our expanded operations following the completion of the recent transaction with REV; potential divestitures and any retained liabilities related thereto may negatively impact our business; the timing and amount of benefits from our strategic initiatives may not be as expected; our industry is highly competitive and subject to pricing pressure, and we may fail to compete effectively; we may experience disruptions within our dealer network; the imposition of new, postponed or increased international tariffs; general economic conditions, government spending priorities and the cyclical nature of markets we serve; our outstanding debt and need to comply with covenants contained in our debt agreements; we may be unable to generate sufficient cash flow to service our debt obligations and operate our business; our access to capital markets and borrowing capacity could be limited; we may face cancellations, reductions or delays in customer orders, customer breaches of purchase agreements, backlog reductions or be unable to meet customer delivery schedules; currency exchange and translation risk; the financial condition of customers and dealers and their continued access to capital; exposure from providing credit support for some of our customers and dealers; we may experience losses in excess of recorded reserves; our common stock may be affected by factors different from those previously, and may decline as a result of the transaction with REV; political, economic and other risks that arise from operating a multinational business; changes in the availability and price of certain materials and components, which may result in supply chain disruptions; consolidation within our customer base and suppliers; failure of our equipment to perform as expected; a material disruption to one of our significant facilities; a failure of a key information technology system or a breach of our information security from increased cybersecurity threats and more sophisticated computer crime; issues related to the development, deployment and use of artificial intelligence technologies in our business operations, information systems, products and services; increased regulatory focus on privacy and data security issues and expanding laws; product liability claims, litigation and other liabilities; compliance with the United States ("U.S.") Foreign Corrupt Practices Act, the U.K. Bribery Act and similar worldwide anti-corruption laws; compliance with environmental, health and safety laws and regulations and failure to meet sustainability requirements or expectations; compliance with an injunction and related obligations imposed by the U.S. Securities and Exchange Commission ("SEC"); our ability to attract, develop, engage and retain qualified team members; possible work stoppages and other labor matters; and other factors. Actual events or our actual future results may differ materially from any forward-looking statement due to these and other risks, uncertainties and material factors.  The forward-looking statements contained herein speak only as of the date of this press release.  We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained in this press release to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

About Terex 
Terex Corporation is a global leader in specialized equipment solutions, serving essential sectors such as emergency services, waste and recycling, utilities, and construction. Our diversified portfolio positions us in resilient, high-demand markets with strong long-term growth potential.

We design and manufacture advanced specialty vehicles—including fire, ambulance, and recreational vehicles—alongside waste collection vehicles, materials processing machinery, mobile elevating work platforms, and equipment for the electric utility industry. Through our global dealer, parts and service network and true value-creating digital solutions, we deliver best-in-class lifecycle support, helping customers maximize return on investment.

With a strong manufacturing footprint in the United States and operations across Europe, India, and Asia Pacific, Terex combines global reach with local expertise to capture opportunities worldwide. Our strategy is clear: exceed customer expectations, invest in innovation, leverage our diversified portfolio, and deliver consistent, profitable growth for our shareholders.

For more information, please visit www.terex.com. 

Contact Information
Derek Everitt
VP Investor Relations 
Email:  [email protected] 

TEREX CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME

(unaudited)

(in millions, except per share data)

Three Months Ended

March 31,

2026

2025

Net sales

$

1,734

$

1,229

Cost of goods sold

(1,528)

(982)

Gross profit

206

247

Selling, general and administrative expenses

(241)

(161)

Amortization of purchased intangibles

(47)

(17)

Operating (loss) profit

(82)

69

Other income (expense)

Interest income

4

2

Interest expense

(47)

(43)

Other expense – net 

(1)

(2)

(Loss) income before income taxes

(126)

26

Benefit from (provision for) income taxes

33

(5)

(Loss) income from continuing operations

(93)

21

Gain on disposition of discontinued operations – net of tax

4

—

Net (loss) income

(89)

21

Basic (loss) earnings per share

(Loss) income from continuing operations

$

(0.97)

$

0.32

Gain on disposition of discontinued operations – net of tax

0.04

—

Net (loss) income

(0.93)

0.32

Diluted (loss) earnings per share:

(Loss) income from continuing operations

$

(0.97)

$

0.31

Gain on disposition of discontinued operations – net of tax

0.04

—

Net (loss) income

(0.93)

0.31

Weighted average number of shares outstanding in per share calculation

Basic

96.1

66.3

Diluted

96.1

66.9

Net (loss) income

$

(89)

$

21

Other comprehensive (loss) income

(12)

32

Comprehensive (loss) income

$

(101)

$

53

TEREX CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEET

(unaudited)

 (in millions, except par value)

March 31, 2026

December 31, 2025

Assets

Current assets

Cash and cash equivalents

$

392

$

772

Other current assets

2,779

1,953

Total current assets

3,171

2,725

Non-current assets

Property, plant and equipment – net

935

760

Other non-current assets

6,082

2,654

Total non-current assets

7,017

3,414

Total assets

$

10,188

$

6,139

Liabilities and Stockholders' Equity

Current liabilities

Current portion of long-term debt

$

4

$

6

Other current liabilities

1,720

1,181

Total current liabilities

1,724

1,187

Non-current liabilities

Long-term debt, less current portion

2,745

2,578

Other non-current liabilities

897

279

Total non-current liabilities

3,642

2,857

Total liabilities

5,366

4,044

Total stockholders' equity

4,822

2,095

Total liabilities and stockholders' equity

$

10,188

$

6,139

TEREX CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(unaudited)

(in millions)

Three Months Ended

March 31,

2026

2025

Operating Activities

Net (loss) income

$

(89)

$

21

Depreciation and amortization

77

39

Changes in operating assets and liabilities and non-cash charges

(19)

(81)

Net cash used in operating activities

(31)

(21)

Investing Activities

Capital expenditures

(26)

(36)

Other investing activities, net

(441)

10

Net cash used in investing activities

(467)

(26)

Financing Activities

Net cash provided by (used in) financing activities

122

(50)

Effect of Exchange Rate Changes on Cash and Cash Equivalents

(4)

7

Net Decrease in Cash and Cash Equivalents

(380)

(90)

Cash and Cash Equivalents at Beginning of Period

772

388

Cash and Cash Equivalents at End of Period

$

392

$

298

TEREX CORPORATION AND SUBSIDIARIES

SEGMENT RESULTS DISCLOSURE

(unaudited)

(in millions)

Q1

2026

2025

% of

% of

Net
Sales

Net
Sales

Consolidated

Net sales

$

1,734

$

1,229

Adjusted EBITDA

173

9.9 %

128

10.4 %

ES

Net sales

$

412

$

399

Adjusted EBITDA

74

18.0 %

81

20.3 %

MP

Net sales

$

419

$

382

Adjusted EBITDA

63

15.0 %

43

11.2 %

SV

Net sales

$

436

$

—

Adjusted EBITDA

62

14.2 %

—

*

Aerials

Net sales

$

469

$

450

Adjusted EBITDA

—

0.1 %

20

4.4 %

Corp and Other /
Eliminations

Net sales

$

(2)

$

(2)

Adjusted EBITDA

(26)

*

(16)

*

* Not a meaningful percentage

GLOSSARY

Non-GAAP Measures Definitions

In an effort to provide investors with additional information regarding the Company's results, Terex refers to various GAAP (U.S. generally accepted accounting principles) and non-GAAP financial measures which management believes provides useful information to investors. These non-GAAP measures may not be comparable to similarly titled measures being disclosed by other companies. In addition, the Company believes that non-GAAP financial measures should be considered in addition to, and not in lieu of, GAAP financial measures. Terex believes that this non-GAAP information is useful to understanding its operating results and the ongoing performance of its underlying businesses. Management of Terex uses both GAAP and non-GAAP financial measures to establish internal budgets and targets and to evaluate the Company's financial performance against such budgets and targets.

The amounts described below are unaudited, are reported in millions of U.S. dollars (except share data and percentages), and are as of or for the period ended March 31, 2026, unless otherwise indicated.

2026 Outlook

The Company's 2026 outlook for segment operating margin, earnings per share, EBITDA, free cash flow, and free cash flow conversion are non-GAAP financial measures because they exclude the impact of potential future acquisitions, divestitures, restructuring, tariffs, trade policies and other unusual items. The Company is not able to reconcile these forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures without unreasonable efforts because the Company is unable to predict with a reasonable degree of certainty the exact timing and impact of such items. The unavailable information could have a significant impact on the Company's full-year 2026 GAAP financial results. This forward looking information provides guidance to investors about the Company's 2026 Outlook excluding unusual items that the Company does not believe is reflective of its ongoing operations.

Free Cash Flow
The Company calculates a non-GAAP measure of free cash flow that is defined as Net cash provided by (used in) operating activities less Capital expenditures, net of proceeds from sale of capital assets.  The Company believes this measure provides management and investors further useful information on cash generation or use in our primary operations and the efficiency with which the Company converts earnings into cash.  The following table reconciles Net cash provided by (used in) operating activities to free cash flow (in millions):

Three Months Ended

March 31,

2026

2025

Net cash used in operating activities

$                  (31)

$                  (21)

Capital expenditures, net of proceeds from sale of
capital assets

(26)

(34)

Free cash (outflow)

$                  (57)

$                  (55)

GAAP to Non-GAAP Reconciliation: Q1 2026

Q1 2026

GAAP

Restructuring
and Other

Deal related

Purchase
Price
Accounting

Divestitures

Tax

Q1 2026

Adjusted
(non-GAAP)

Net Sales

$

1,734

—

—

—

—

—

$

1,734

Gross Profit

206

1

—

118

—

—

325

% of Sales

11.9 %

18.8 %

SG&A

(241)

—

68

1

(3)

—

(175)

Amortization of Purchased
Intangibles

(47)

—

—

47

—

—

—

SG&A % of Sales

(13.9 %)

(10.1 %)

Operating (Loss) Profit

$

(82)

1

68

166

(3)

—

$

150

Operating Margin

(4.7 %)

8.6 %

Net Interest (Expense) Income

(43)

—

—

—

—

—

(43)

Other (Expense) Income - Net

(1)

—

—

—

—

—

(1)

(Loss) Income Before Income
Taxes

(126)

1

68

166

(3)

—

106

Benefit From (Provision for)
Income Taxes

33

—

(10)

(39)

1

3

(12)

Effective Tax Rate

26.5 %

11.0 %

(Loss) Income from
Continuing Operations

$

(93)

1

58

127

(2)

3

$

94

Earnings (Loss) per Share
from Continuing Operations

$

(0.97)

$         0.01

$       0.61

$       1.32

$      (0.02)

$       0.03

$

0.98

GAAP to Non-GAAP Reconciliation: Q1 2025

Q1 2025

GAAP

Restructuring
and Other1

Deal Related

Purchase
Price
Accounting

Litigation
Related

Mark to
Market

Q1 2025

Adjusted
(non-GAAP)

Net Sales

$

1,229

—

—

—

—

—

$

1,229

Gross Profit

247

2

—

4

—

—

253

% of Sales

20.1 %

20.5 %

SG&A

(161)

4

5

—

10

—

(142)

Amortization of Purchased
Intangibles

(17)

—

—

17

—

—

—

SG&A % of Sales

(13.1 %)

(11.6 %)

Operating Profit

$

69

6

5

21

10

—

$

111

Operating Margin

5.6 %

9.1 %

Net Interest Income (Expense)

(41)

—

—

—

—

—

(41)

Other Income (Expense) - Net

(2)

—

1

—

—

1

–

Income (Loss) Before Income
Taxes

26

6

6

21

10

1

70

(Provision for) Benefit From
Income Taxes

(5)

(1)

(1)

(5)

(2)

(1)

(15)

Effective Tax Rate

20.3 %

21.0 %

Net Income (Loss)

$

21

5

5

16

8

—

$

55

Earnings (Loss) per Share

$

0.31

$         0.07

$       0.07

$       0.25

$       0.13

$          —

$

0.83

1Includes previously disclosed adjustments in Q1 2025 pertaining to Accelerated vesting / Severance and Tariff related activity

Segment Operating Profit and Adjusted Operating Profit: Q1 2026 and Q1 2025

Three Months Ended
March 31,

2026

2025

ES

MP

SV

Aerials

ES

MP

Aerials

Operating Profit

$       49

$       63

$      (88)

$       (7)

$       56

$       36

$        2

Restructuring and Other

1

—

—

—

—

2

2

Purchase Price Accounting

20

—

144

—

21

—

—

Litigation Related

—

—

—

—

—

—

10

Divestitures

—

(5)

2

—

—

—

—

Adjusted Operating Profit

$       70

$       58

$       58

$       (7)

$       77

$       38

$       14

Net Sales

$     412

$     419

$     436

$     469

$     399

$     382

$     450

OP Margin %

11.9 %

15.0 %

(20.2 %)

(1.5 %)

14.0 %

9.4 %

0.4 %

Adjusted OP Margin %

17.0 %

13.8 %

13.3 %

(1.5 %)

19.4 %

10.0 %

3.0 %

Reconciliation of Q1 2026 Pro Forma Net Sales Performance

Three Months Ended
March 31,

2026 Net Sales (as reported)

$                     1,734

2025 Net Sales (as reported)

1,229

Less: MP Cranes Impact1

(28)

Plus: Specialty Vehicles (Feb 2 - March 31)

364

2025 Net Sales (pro forma)

$                     1,565

Pro Forma YoY Change in Net Sales

$                        169

11 %

1 The Adjusted EBITDA impact from the divested MP Cranes business was $1 million for the three months ended March 31, 2025

EBITDA
EBITDA is defined as earnings, before interest, other non-operating income (loss), income (loss) attributable to non-controlling interest, taxes, depreciation and amortization.  The Company calculates this by subtracting the following items from Net income (loss): (Gain) loss on disposition of discontinued operations- net of tax; and (Income) loss from discontinued operations – net of tax.  Then adds the Provision for (benefit from) income taxes; Interest & Other (Income) Expense; the Depreciation and Amortization amounts reported in the Consolidated Statement of Cash Flows less amortization of debt issuance costs that are recorded in Interest expense. Adjusted EBITDA is defined as EBITDA plus certain SG&A and other income/expenses.

Terex believes that disclosure of EBITDA and Adjusted EBITDA will be helpful to those reviewing its performance, as EBITDA provides information on Terex's ability to meet debt service, capital expenditure and working capital requirements, and is also an indicator of profitability.

Three Months Ended

March 31,

2026

2025

Net (loss) income

$                   (89)

$                    21

(Gain) loss on disposition of discontinued operations - net of tax

(4)

—

Income (loss) from continuing operations

(93)

21

Interest & Other (Income) Expense

44

43

Provision for (benefit from) income taxes

(33)

5

Operating (loss) profit

(82)

69

Depreciation

23

17

Amortization

54

22

Non-Cash Interest Costs

(2)

(2)

EBITDA

$                    (7)

$                  106

Restructuring and Other

1

6

Deal Related

68

5

Purchase Price Accounting

114

1

Litigation Related

—

10

Divestitures

(3)

—

Adjusted EBITDA

$                  173

$                  128

Net Sales

$                1,734

$                1,229

EBITDA Margin %

(0.4 %)

8.7 %

Adjusted EBITDA Margin %

9.9 %

10.4 %

Segment EBITDA and Adjusted EBITDA: Q1 2026 and Q1 2025

Three Months Ended
March 31,

2026

2025

ES

MP

SV

Aerials

ES

MP

Aerials

Net income (loss)1

$       49

$       60

$      (91)

$       (8)

$       56

$       33

$        2

Interest expense

—

3

3

—

—

3

—

Other expense

—

—

—

1

—

—

—

Operating (Loss) Profit

$       49

$       63

$      (88)

$       (7)

$       56

$       36

$        2

Depreciation

4

5

4

7

4

4

6

Amortization

20

—

31

—

20

1

—

EBITDA

73

68

(53)

—

80

41

8

Restructuring and Other

1

—

—

—

—

2

2

Purchase Price Accounting

—

—

113

—

1

—

—

Litigation Related

—

—

—

—

—

—

10

Divestitures

—

(5)

2

—

—

—

—

Adjusted EBITDA

$       74

$       63

$       62

$       —

$       81

$       43

$       20

Net Sales

$     412

$     419

$     436

$     469

$     399

$     382

$     450

EBITDA Margin %

17.7 %

16.2 %

(12.2 %)

0.1 %

20.1 %

10.8 %

1.8 %

Adjusted EBITDA Margin %

18.0 %

15.0 %

14.2 %

0.1 %

20.3 %

11.2 %

4.4 %

1 Management does not allocate income taxes, interest costs incurred at the Corporate level, and certain other Corporate items to the segments.

SOURCE Terex Corporation

For the quarter ended March 2026, Terex (TEX - Free Report) reported revenue of $1.73 billion, up 41.1% over the same period last year. EPS came in at $0.98, compared to $0.83 in the year-ago quarter.

The reported revenue represents a surprise of +2.24% over the Zacks Consensus Estimate of $1.7 billion. With the consensus EPS estimate being $0.78, the EPS surprise was +25.96%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Terex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net sales- ES: $412 million versus the three-analyst average estimate of $419.63 million. The reported number represents a year-over-year change of +3.3%.Net sales- Corp and Other / Eliminations: $-2 million versus $-2.62 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a 0% change.Net sales- Materials Processing & Mining (MP): $419 million versus the three-analyst average estimate of $389.08 million. The reported number represents a year-over-year change of +9.7%.Net sales- Aerials: $469 million compared to the $422.2 million average estimate based on three analysts. The reported number represents a change of +4.2% year over year.View all Key Company Metrics for Terex here>>>

Shares of Terex have returned +6.3% over the past month versus the Zacks S&P 500 composite's +10.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Have you evaluated the performance of Terex's (TEX - Free Report) international operations during the quarter that concluded in March 2026? Considering the extensive worldwide presence of this machinery products maker, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth.

In the modern, closely-knit global economic landscape, the capacity of a business to access foreign markets is often a key determinant of its financial well-being and growth path. Investors now place great importance on grasping the extent of a company's dependence on international markets, as it sheds light on the firm's earnings stability, its skill in leveraging various economic cycles and its broad growth potential.

Presence in international markets can act as a hedge against domestic economic downturns and provide access to faster-growing economies. However, this diversification also brings complexities due to currency fluctuations, geopolitical risks and differing market dynamics.

While delving into TEX's performance for the past quarter, we observed some fascinating trends in the revenue from its foreign segments that are commonly modeled and observed by analysts on Wall Street.

The recent quarter saw the company's total revenue reaching $1.73 billion, marking an improvement of 41.1% from the prior-year quarter. Next, we'll examine the breakdown of TEX's revenue from abroad to comprehend the significance of its international presence.

A Look into TEX's International Revenue StreamsWestern Europe generated $194 million in revenues for the company in the last quarter, constituting 11.2% of the total. This represented a surprise of -11.97% compared to the $220.38 million projected by Wall Street analysts. Comparatively, in the previous quarter, Western Europe accounted for $168 million (12.8%), and in the year-ago quarter, it contributed $162 million (13.2%) to the total revenue.

During the quarter, Asia-Pacific contributed $116 million in revenue, making up 6.7% of the total revenue. When compared to the consensus estimate of $140.53 million, this meant a surprise of -17.46%. Looking back, Asia-Pacific contributed $122 million, or 9.3%, in the previous quarter, and $102 million, or 8.3%, in the same quarter of the previous year.

Revenue Forecasts for the International MarketsWall Street analysts expect Terex to report a total revenue of $2.15 billion in the current fiscal quarter, which suggests an increase of 44.9% from the prior-year quarter. Revenue shares from Western Europe and Asia-Pacific are predicted to be 12.2%, and 6.7%, corresponding to amounts of $262.64 million, and $143.29 million, respectively.

For the full year, a total revenue of $7.84 billion is expected for the company, reflecting an increase of 44.6% from the year before. The revenues from Western Europe and Asia-Pacific are expected to make up 13.2%, and 7.8% of this total, corresponding to $1.03 billion, and $607.31 million, respectively.

In ConclusionThe dependency of Terex on global markets for its revenues presents a mix of potential gains and hazards. Thus, monitoring the trends in its overseas revenues can be a key indicator for predicting the firm's future performance.

In an era of growing international ties and escalating geopolitical disputes, financial analysts on Wall Street pay keen attention to these developments to fine-tune their earnings estimations for businesses operating across borders. It's important to note, however, that a range of additional variables, like a company's local market status, also play a crucial role in shaping these forecasts.

At Zacks, a company's changing earnings outlook is given considerable attention due to its proven, strong influence on a stock's price performance in the near term. The connection here is straightforward and positive: when earnings estimates are revised upward, the stock price generally follows suit, increasing as well.

Boasting a remarkable track record that's been externally verified, the Zacks Rank, our unique stock rating system, leverages changes in earnings projections to function as a reliable gauge for predicting short-term stock price movements.

Terex, bearing a Zacks Rank #3 (Hold), is expected to mirror the broader market's movements in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

A Review of Terex's Recent Stock Market PerformanceThe stock has witnessed an increase of 5.7% over the past month versus the Zacks S&P 500 composite's an increase of 10%. In the same interval, the Zacks Industrial Products sector, to which Terex belongs, has registered an increase of 7.5%. Over the past three months, the company's shares saw a decrease of 1.4%, while the S&P 500 increased by 4.4%. In comparison, the sector experienced an increase of 7.2% during this timeframe.

, /PRNewswire/ -- Terex Corporation (NYSE: TEX) announced that its Board of Directors declared a quarterly dividend of $0.17 per share. The dividend is to be paid on June 22, 2026 to all stockholders of record as of the close of business on June 8, 2026.

About Terex
Terex Corporation is a global leader in specialized equipment solutions, serving essential sectors such as emergency services, waste and recycling, utilities, and construction. Our diversified portfolio positions us in resilient, high-demand markets with strong long-term growth potential.

We design and manufacture advanced specialty vehicles—including fire, ambulance, and Recreational Vehicles—alongside waste collection vehicles, materials processing machinery, mobile elevating work platforms, and equipment for the electric utility industry. Through our global dealer, parts and service network and true value-creating digital solutions, we deliver best-in-class lifecycle support, helping customers maximize return on investment.

With a strong manufacturing footprint in the United States and operations across Europe, India, and Asia Pacific, Terex combines global reach with local expertise to capture opportunities worldwide. Our strategy is clear: exceed customer expectations, invest in innovation, leverage our diversified portfolio, and deliver consistent, profitable growth for our shareholders.

For more information, please visit www.terex.com.

Contact Information
Derek Everitt
VP Investor Relations
Email: [email protected]

SOURCE Terex Corporation

Investors in Terex Corporation (TEX - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the July 17, 2026 $05.00 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?Clearly, options traders are pricing in a big move for Terex share, but what is the fundamental picture for the company? Currently, Terex is a Zacks Rank #3 (Hold) in the Manufacturing - Construction and Mining Industry that ranks in the Bottom 8% of our Zacks Industry Rank. Over the last 60 days, two analysts have increased their estimates for the current quarter, while seven have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter to move from $1.34 per share to $1.26 per share in the same time period.

Given the way analysts feel about Terex right now, this huge implied volatility could mean there’s a trade developing. Often times, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.