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Terex

TEX Q3 2025 Earnings

Reported Oct 30, 2025 at 7:34 AM ET · SEC Source

Q3 25 EPS

$1.50

BEAT +24.46%

Est. $1.21

Q3 25 Revenue

$1.39B

MISS 1.94%

Est. $1.41B

vs S&P Since Q3 25

+42.7%

BEATING MARKET

TEX +49.9% vs S&P +7.2%

Market Reaction

Did TEX Beat Earnings? Q3 2025 Results

Terex delivered a strong earnings beat in Q3 2025, posting adjusted EPS of $1.50 against a consensus estimate of $1.21, a 24.46% positive surprise, even as revenue of $1.39 billion came in just shy of the $1.41 billion analysts expected. The top-line… Read more Terex delivered a strong earnings beat in Q3 2025, posting adjusted EPS of $1.50 against a consensus estimate of $1.21, a 24.46% positive surprise, even as revenue of $1.39 billion came in just shy of the $1.41 billion analysts expected. The top-line result still represented a 14.4% year-over-year gain, powered almost entirely by the Environmental Solutions Group acquisition, which contributed $435 million in sales at an impressive 18.3% adjusted operating margin while legacy segments faced headwinds from softer North American demand and tariff pressures. Aerials sales fell 13.2% to $537 million as rental customers curtailed capital spending, and Materials Processing declined 6.1% to $417 million, reflecting weakness in the concrete business. Free cash flow reached $130 million, representing 200% conversion. Looking ahead, Terex maintained its full-year adjusted EPS guidance of $4.70 to $5.10 and net sales outlook of $5.30 billion to $5.50 billion, though management flagged an estimated $0.70 per share net tariff headwind for the full year, with heavier impacts expected in Q4.

Key Takeaways

  • • ESG acquisition contributed incremental revenue and strong margins
  • • Environmental Solutions achieved 18.3% adjusted operating margin, up 160 bps on pro forma basis
  • • Aerials benefited from $18 million favorable customs-related contingency release
  • • Cost reduction actions partially offset volume declines in Aerials and Materials Processing
  • • Free cash flow of $130 million with 200% cash conversion rate
  • • Bookings grew 57% year over year on a pro forma basis
24/7 Wall St

TEX YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

TEX Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“We continue to deliver solid financial performance. Environmental Solutions continued to grow and achieve strong margins in line with our expectations. Materials Processing executed in line with our expectations in spite of challenging conditions in some of its markets and Aerials achieved modestly better than expected operating margins.”

— Simon Meester, Q3 2025 Earnings Press Release

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