Terex Corporation (TEX) Earnings
Terex Corporation is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $1.25. TEX has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +13.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $0.78 | $0.98 | +25.6% | $1.7B | +2.0% |
| Feb 11, 2026 | $1.12 | $1.12 | +0.0% | $1.3B | +4.4% |
| Oct 30, 2025 | $1.22 | $1.50 | +23.0% | $1.4B | +6.8% |
| Jul 31, 2025 | $1.44 | $1.49 | +3.5% | $1.5B | +5.1% |
| May 2, 2025 | $0.49 | $0.83 | +69.4% | $1.2B | -14.8% |
| Feb 6, 2025 | $0.76 | $0.77 | +1.3% | $1.2B | +0.9% |
| Oct 30, 2024 | $1.31 | $1.31 | +0.0% | $1.2B | -1.6% |
| Apr 25, 2024 | $1.37 | $1.60 | +16.8% | $1.3B | -8.9% |
| Feb 8, 2024 | $1.41 | $1.41 | +0.0% | $1.2B | -3.2% |
| Oct 26, 2023 | $1.72 | $1.75 | +1.7% | $1.3B | +2.1% |
| Aug 1, 2023 | $1.66 | $2.34 | +41.0% | $1.4B | +10.6% |
| May 1, 2023 | $1.04 | $1.64 | +57.7% | $1.2B | +1.5% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Simon mentioned the company is off to a good start in 2026, with new specialty vehicle segment contributing meaningfully. Sales grew 11% pro forma, led by specialty vehicles. EPS increased 18% year over year. Quarter ending backlog at $7.1 billion. REV integration progressing as planned. Specialty vehicles team showcased ThirdEye digital solution. Strategic review of aerial business ongoing. - Jen noted Q1 sales growth due to merger and legacy segment growth. Q1 EBITDA margin 9.9%. Net working capital as percentage of sales improved. Segment results: EOS sales growth 3.3% driven by Terex utilities; MP sales up 18.3% pro forma, EBITDA margin 15%; specialty vehicle segment revenue $436 million in Feb-March, growth 20%; ARIS had 132% book-to-bill and $1 billion backlog.
Guidance
- Reiterating full-year 2026 outlook. Expect 2026 sales to grow approximately 5% pro forma to $7.5 to $8.1 billion. Pro forma EBITDA to grow by approximately $100 million or 12% year over year to between $930 million and $1 billion or 12.4% EBITDA margin at midpoint. Synergies of approximately $28 million in 2026. Interest and other expenses expected to be approximately $190 million. Effective tax rate still expected to be 21%. 2026 EPS between $4.50 and $5. Environmental solutions expected mid-single digit growth, MP high single-digit pro forma growth, specialty vehicle segment high single-digit sales growth with margin improvement, areas to have sales and margin similar to 2025 with margin improvement sequentially.
Segment performance
On a reported basis, sales grew to $1.7 billion, an increase of $505 million or 41% compared with the prior year due to the merger with Rafeu and growth in legacy segments. Pro forma sales grew 10.8%, led by specialty vehicles, material processing, and Terex utilities. Excluding merger and sale impacts, organic revenue increased 8.1%. Environmental solutions sales growth 3.3% driven by Terex utilities. MP had strong first quarter with sales 18.3% higher pro forma, EBITDA margin 15%. Specialty vehicle segment generated $436 million revenue in February and March, growth 20% vs prior year, EBITDA margin 14.2%. ARIS had 132% book-to-bill, $1 billion backlog, sales $469 million up 4.2% year-over-year.
Analyst Q&A
Q: Angel Castillo asked about holding full - year guidance, whether due to macro tariff uncertainty or conservatism, and areas of uncertainty/upside.
A: Short answer is it's more about discipline and timing. Confidence in business fundamentals, but operating in uncertain macro and tariff environment, so reaffirming outlook. -
Q: Kyle Menjes asked about margin changes across segments and tariff impacts.
A: MP expected margin step up in Q2 and Q3. ES expected Q2 similar to Q1, margin step up in second half. SV expected Q2 - Q3 run rate similar to Q1, Q4 marginal step down. Areas expected Q2 step up, Q3 further step up, Q4 step down but full year price - cost neutral. -
Q: Mig Dobre asked about managing inflation, material costs, etc.
A: Cost inflation has lag due to hedging and vendor contracts. SV backlog covers CPI inflation. MP and ESG book - to - bill allows surcharge if cost can't be mitigated. North America revenue over 80% helps manage energy inflation. -
Q: Tim Thien asked about update on Rev segment and Apptronic stake.
A: Rev segment had good start, slightly better than anticipated due to weather. Apptronic investment, co - developed zero - gravity arm with Genie, positively received. -
Q: David Razo asked about specialty vehicle segment revenue run rate and growth.
A: Guiding high single digits for segment, typically two - thirds price, one - third unit growth. Investments coming online in Q4, but sequential from Q1 run rate will have step up in Q2 - Q3 and step down in Q4. -
Q: Jamie Cook asked about SV margins and aerial sale impact.
A: SV margin profile improving, EBITDA margin 13.1% in Jan - March, expecting sequential step up. Aerial market inflection doesn't change sale process view, it's a through - cycle discussion. -
Q: Tammy Zakaria asked about ESG back half orders and technology impact on pricing.
A: ESG second half has new technology driving momentum, pricing market - based to create value for customers while being price - cost neutral. -
Q: Jerry Revich asked about capital deployment and aerial divestiture impact.
A: Immediate focus on integration and execution. M&A landscape considered, but tiebreaker is what's best for shareholders. Specialty vehicle bookings expected to slowly soften as lead times improve.