TEX Q1 2026 Earnings
Reported May 4, 2026 at 7:52 PM ET · SEC Source
Q1 26 EPS
$0.98
BEAT +26.39%
Est. $0.78
Q1 26 Revenue
$1.73B
BEAT +2.05%
Est. $1.70B
vs S&P Since Q1 26
+25.0%
BEATING MARKET
TEX +26.4% vs S&P +1.3%
Market Reaction
Did TEX Beat Earnings? Q1 2026 Results
Terex Corporation delivered a convincing first-quarter beat in its debut report as a transformed, post-acquisition company, with adjusted EPS of $0.98 clearing the $0.78 consensus estimate by 26.39% and revenue of $1.73 billion topping expectations b… Read more Terex Corporation delivered a convincing first-quarter beat in its debut report as a transformed, post-acquisition company, with adjusted EPS of $0.98 clearing the $0.78 consensus estimate by 26.39% and revenue of $1.73 billion topping expectations by 2.05% while rising 41.1% year over year. The headline driver was the February 2026 close of the REV Group acquisition, whose newly formed Specialty Vehicles segment immediately contributed $436 million in net sales and $62 million in adjusted EBITDA at a 14.2% margin, demonstrating early accretion to the portfolio. On a pro forma basis stripping out merger-related purchase price adjustments and deal costs, organic growth came in at 11%, with Materials Processing standing out through margin expansion to 15.0% from 11.2% a year ago. Aerials remained a pressure point, as tariffs and unfavorable mix pushed segment EBITDA to near breakeven. With a backlog of $7.10 billion and a book-to-bill ratio of 109%, Terex reiterated its full-year 2026 outlook for sales of $7.50 billion to $8.10 billion and adjusted EPS of $4.50 to $5.00, targeting roughly $28 million in REV synergies this year alone.
Key Takeaways
- • Accretive addition of Specialty Vehicles segment (REV Group acquisition)
- • Higher sales volumes in Materials Processing driven by Aggregates, Material Handling and Recycling
- • Price realization and operational efficiency improvements in MP and SV
- • Strong throughput and delivery of utilities products in Environmental Solutions
- • Positive effects of foreign exchange rates in MP and Aerials
- • Tariff headwinds negatively impacting Aerials segment profitability
- • Unfavorable product mix in Environmental Solutions and Aerials
TEX Forward Guidance & Outlook
Terex reiterated its full-year 2026 outlook: sales of $7.5 billion to $8.1 billion (approximately 5% pro forma growth), EBITDA of $930 million to $1 billion (approximately 12% year-over-year pro forma growth, 12.4% margin at midpoint), adjusted EPS of $4.50 to $5.00, and free cash flow conversion of 80%-90%. The outlook includes 11 months of the new Specialty Vehicles segment, approximately $28 million of realized REV synergies (on track for $75 million annual run-rate within 2 years), excludes divested MP cranes and Midwest RV businesses, assumes current tariff rates remain in place (including recent 232 tariff changes which are expected to be negligible), interest expense of approximately $190 million, a 21% effective tax rate, and full-year average shares outstanding of 111 million. By segment: Environmental Solutions expected mid-single-digit revenue growth off a $1,691 million baseline; Materials Processing expected high-single-digit growth off $1,578 million; Specialty Vehicles expected high-single-digit growth off $2,179 million; Aerials expected flat off $2,060 million.
TEX YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
TEX Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Simon Meester, Q1 2026 Earnings Press Release
TEX Earnings Trends
TEX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TEX EPS Trend
Earnings per share: estimate vs actual
TEX Revenue Trend
Quarterly revenue: estimate vs actual
TEX Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.78 | $0.98 | +26.39% | $1.73B | +2.05% |
| Q4 25 BEAT FY | $1.11 | $1.12 | +1.04% | $1.32B | +1.51% |
| FY Full Year | $4.90 | $4.93 | +0.65% | $5.42B | +0.29% |
| Q3 25 BEAT | $1.21 | $1.50 | +24.46% | $1.39B | -1.94% |
| Q2 25 BEAT | $1.40 | $1.49 | +6.46% | $1.50B | +4.45% |