Terex Corporation
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Range $70 – $86
Price Chart
About the company
Operating globally, Terex Corporation specializes in the production and distribution of aerial work platforms and a diverse range of materials processing equipment. Its operations are structured into two primary divisions: Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment is responsible for the design, manufacturing, servicing, and marketing of access equipment, utility machinery, and telehandlers, primarily under the well-known Terex and Genie brands.
- CEO
- Simon A. Meester
- IPO
- 1980
- Employees
- 10,700
- HQ
- Norwalk, CT, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $6.57B
- P/E
- 28.89
- Fwd P/E
- 11.45
- PEG
- -1.09
- P/S
- 0.98
- P/B
- 1.33
- EV/EBITDA
- 19.98
- Div Yield
- 1.18%
- Gross Margin
- 17.67%
- Op Margin
- 5.72%
- Net Margin
- 2.23%
- ROE
- 4.30%
- ROIC
- 3.43%
Latest fiscal year · YoY change
- Revenue
- $5.42B+5.7%
- Gross Profit
- $1.05B-1.6%
- Op Income
- $475.00M
- Net Income
- $221.00M-34.0%
- EPS
- $3.36-32.8%
- OCF Growth
- +35.0%
- FCF Growth
- +70.4%
- 52W High
- $74.69
- 52W Low
- $41.70
- 50D MA
- $62.27
- 200D MA
- $62.19
- Beta
- 1.47
- RSI (14)
- 46
- Avg Volume
- 1.21M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Terex reported a strong second quarter, raised full-year guidance, and said backlog, bookings, and execution across its new portfolio are supporting momentum despite tariffs and mix pressures.· July 30, 2026
- Q2 revenue was $2.24 billion, with pro forma sales up 8.5% year over year and adjusted EBITDA up to $269 million.
- Bookings rose 25% year over year on a pro forma basis to $2 billion, and backlog ended at $6.9 billion, supporting second-half visibility.
- The company raised 2026 guidance to sales of $7.9 billion to $8.2 billion, adjusted EBITDA of $960 million to $1 billion, and adjusted EPS of $4.70 to $5.10.
- Specialty Vehicles posted record earnings performance, while Materials Processing and Aerials were highlighted as key contributors to the stronger outlook.
- Management said Aerials remains under strategic review, with interest from multiple parties, but no timeline was given for an outcome.
Consolidated sales were $2.24 billion, up $751 million or 51% as reported; on a pro forma basis, sales increased 8.5% year over year. Adjusted EBITDA was $269 million, up $26 million or 10.7% pro forma, and adjusted EBITDA margin was 12% versus 11.8% in the prior-year pro forma quarter. Adjusted EPS was $1.37, including an $8 million net benefit from IEEPA tariff refunds plus a one-time unfavorable customs-related accrual. Operating cash flow was $128 million and free cash flow was $101 million; net debt was $2.28 billion, including $407 million of cash, and net leverage improved to 2.3x. For 2026, Terex now expects sales of $7.9 billion to $8.2 billion, adjusted EBITDA of $960 million to $1 billion, adjusted EPS of $4.70 to $5.10, and free cash flow of $300 million to $350 million.
Simon Meester said the quarter showed broad-based demand improvement, better earnings conversion, and execution across the portfolio. He emphasized that the REV and ESG acquisitions are trending above their original business cases and that the company is focused on converting backlog more profitably, improving throughput, realizing synergies, and launching new products. His tone was constructive and confident, but he repeatedly pointed to ongoing work on tariffs, capacity ramps, and the Aerials strategic review.
Jennifer Kong-Picarello highlighted stronger profitability, improved working capital, and solid cash generation. She noted net working capital fell to 13.2% of sales from 16.7% in Q1 and 22.8% a year ago, operating cash flow was $128 million, free cash flow was $101 million, and net leverage improved to 2.3x. She also said the company expects about $28 million of synergies in the EBITDA outlook, roughly $185 million of interest and other expense based on average debt of $2.7 billion, a 21% tax rate for the full year, and a second-half share count of about 114 million.
Analysts focused on Environmental Solutions, Specialty Vehicles, Aerials margins, MP margin progression, and the timing of the Aerials review. Management said ESG refuse demand is improving but the expected second-half 2026 pre-buy ahead of 2027 EPA rules has shifted out, which is why full-year ESG growth was trimmed to low single digits; they also said Q3 margins should look similar to Q2 before stepping up in Q4. On Specialty Vehicles, management said backlog should keep falling as throughput improves and lead times come down, and on Aerials they said Q2 margins were better than expected, pricing is moving toward neutrality for the year, and the strategic review has no predetermined timeline. They also said there was no material financial impact from EPA changes because engine cost is passed through.
The bull case from the call is that demand looked broadly healthy, with bookings up 25% pro forma, backlog at $6.9 billion, and guidance raised across sales, EBITDA, and EPS. Management sounded confident that REV integration, utility demand, MP execution, and Aerials’ improved pricing and volumes can support further margin and cash-flow improvement.
The main risks discussed were tariffs, mix pressure, temporary softness in refuse collection vehicles, and the possibility that some pre-buy demand shifts from late 2026 into 2027 instead. Aerials still carries lower margins than the rest of the portfolio, and the company said the strategic review has no fixed timeline, while capacity ramps in utilities and fire still create some near-term under-absorption and execution risk.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 98.2%
- Shares Outstanding
- 114.30M
- Float Shares
- 112.24M
of shares held by institutions
487 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for TEX, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Josh S. GottheimerHouse · NJ05 | Sell | Apr 25, 24 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Sell | Feb 13, 24 | Filing → |
| Daniel GoldmanHouse · NY10 | Buy | Apr 10, 23 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Buy | Apr 19, 22 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Sell | Mar 15, 22 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Buy | Feb 15, 22 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Buy | Nov 4, 21 | Filing → |
| Kelly LoefflerSenate · GA | Sell | Apr 13, 20 | Filing → |
| Bill FloresHouse · TX17 | Buy | Mar 25, 19 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Fmr LLC | 17.10M | ▲ 44.98K |
| Blackrock, Inc. | 14.69M | ▲ 657.30K |
| Vanguard Group Inc | 6.50M | ▼ 53.44K |
| Vanguard Portfolio Management LLC | 5.74M | ▼ 74.48K |
| Vanguard Capital Management LLC | 4.96M | ▼ 125.31K |
| Dimensional Fund Advisors LP | 4.41M | ▼ 29.45K |
| State Street Corp | 4.37M | ▲ 257.15K |
| Wellington Management Group Llp | 3.34M | ▼ 411.28K |
| Geode Capital Management, LLC | 3.15M | ▲ 282.18K |
| Alliancebernstein L.P. | 2.09M | ▼ 38.69K |
| Massachusetts Financial Services Co | 1.87M | ▲ 100.29K |
| Invesco Ltd. | 1.85M | ▲ 752.83K |
Held by 456 ETFs
Biggest fund positions in TEX by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 3, 26 | KONG-PICARELLO JENNIFER | other | 21 |
| Sep 3, 26 | CARROLL PATRICK S | other | 39 |
| Aug 5, 26 | KONG-PICARELLO JENNIFER | other | 20 |
| Aug 5, 26 | CARROLL PATRICK S | other | 36 |
| Jul 10, 26 | Jindal Namita | other | 261 |
| Jul 10, 26 | CARROLL PATRICK S | other | 36 |
| Jul 10, 26 | KONG-PICARELLO JENNIFER | other | 20 |
| Jun 26, 26 | OCONNELL MAUREEN | other | 1,880 |
| Jun 26, 26 | O'CONNOR SANDRA | other | 3,760 |
| Jun 26, 26 | Padmanabhan Srikanth | other | 3,760 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our TEX coverage
Recent articles, reports, and earnings notes.
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