Terex (TEX) Q3 2026 Earnings
GAAP EPS of $1.00 includes $53M amortization of purchased intangibles, $15M restructuring and other charges, $9M deal-related costs, and $23M divestiture impacts (pre-tax). Adjusted EPS of $1.50 excludes these items.
How Did TEX Stock React to Q3 2026 Earnings?
Did TEX Beat Earnings? Q3 2026 Results
Yes. Terex reported Q3 2026 earnings of $1.50 a share on Oct 28, 2026, beating the $1.42 consensus estimate by 5.4%. Revenue was $2.2B against a $2.2B estimate.
Terex Corporation posted a stronger-than-expected third quarter, beating consensus estimates for the fifth consecutive quarter as the full weight of its REV Group acquisition reshaped the company's financial profile. Adjusted diluted EPS came in at $1.50, edging past the $1.42 consensus by 5.37%, while revenue of $2.20 billion beat estimates by 1.55% and surged 58.4% year over year, with the newly added Specialty Vehicles segment, which contributed $105.00 million in adjusted EBITDA at a 16.0% margin, serving as the most visible driver of that headline growth. On a GAAP basis, net income rose to $114.00 million, or $1.00 per diluted share, compared with $65.00 million a year ago, with the gap to adjusted results reflecting $53.00 million in amortization of purchased intangibles and other deal-related costs tied to the REV integration. A $500.00 million share repurchase authorization, paired with a quarterly dividend of $0.17 per share payable in December, signals management's confidence heading into year-end. Terex refined its full-year 2026 outlook to sales of $8.00 billion to $8.20 billion and adjusted diluted EPS of $4.80 to $5.00, with free cash flow guided to $360.00 million to $400.00 million.
- Pro forma net sales grew 11.6% driven by growth in Materials Processing, Specialty Vehicles, and Aerials
- Materials Processing improvement driven by higher shipment volume, favorable mix, price cost discipline, and improved absorption
- Specialty Vehicles increase primarily due to operational efficiency and price cost discipline
- Aerials sales up 32% due to strong demand from national customers and increased customer capital spending on large projects
- Environmental Solutions decline of 8% due to lower refuse collection vehicle shipments
- Bookings of $2.3 billion increased 52.7% year over year on a pro forma basis with book-to-bill of 103%
- $7.0 billion backlog increased 12.9% on a pro forma basis
- Improved working capital efficiency contributed to strong operating cash flow
“Terex delivered higher sales, adjusted EBITDA and cash flow in the third quarter versus the prior year, with solid order activity increasing across all four segments, resulting in $7 billion backlog that provides meaningful forward visibility across the portfolio. We are also making progress integrating the expanded company, capturing synergies, and applying more consistent operating discipline to improve execution and returns.”
Terex CEO, on the earnings call
What Is Terex's Outlook?
Terex refined its 2026 full-year outlook: Sales of $8.0B to $8.2B (~8.5% pro forma growth), Adjusted EBITDA of $930M to $960M (11.7% margin at midpoint, ~10% pro forma growth), Adjusted Diluted EPS of $4.80 to $5.00, and Free Cash Flow of $360M to $400M. Assumptions include 11 months of REV (Specialty Vehicles), ~$28M realized synergies (on-target for $75M annual run-rate within 2 years), exclusion of divested MP cranes and Midwest RV businesses, current tariff rates, ~$180M interest expense, ~19% effective tax rate, and ~110M average diluted shares (~113M in Q4). Segment outlook: Environmental Solutions flat vs. prior year baseline of $1,691M; Materials Processing up low double-digits vs. $1,578M baseline; Specialty Vehicles up high single-digits vs. $2,179M baseline; Aerials up low double-digits vs. $2,060M baseline.
TEX YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.2B | $1.4B | +58.4% |
| Gross Profit | $435.0M | $281.0M | +54.8% |
| Operating Income | $183.0M | $139.0M | +31.7% |
| Net Income | $114.0M | $65.0M | +75.4% |
TEX Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.