Key Highlights:

  • Revenue was USD 2.2 billion in the most recent quarter, increasing 8.5% on a proforma basis.
  • Adjusted EBITDA was USD 269 million, up USD 26 million, or 10.7%, from a year earlier.
  • Full year guidance was raised to sales of USD 7.9 billion to USD 8.2 billion.
  • Bookings increased 25% year over year, with backlog reaching USD 6.9 billion.

Terex Corporation (NYSE:TEX) is scheduled to report third quarter results on Wednesday, Oct. 28, before the market open. Consensus estimates call for adjusted earnings per share of USD 1.42 on revenue of USD 2.16 billion, against a market capitalization of USD 5.83 billion.

In the most recently reported quarter, revenue was USD 2.2 billion, increasing 8.5% compared with last year on a proforma basis, with adjusted EBITDA of USD 269 million, up USD 26 million, or 10.7%, driven by improvements in the Materials Processing and Specialty Vehicles segments.

Segment Performance

Environmental Solutions sales increased 5.9% to USD 456 million, Materials Processing sales increased 11.1% to USD 464 million with adjusted EBITDA margin expanding 440 basis points to 18.8%, Specialty Vehicles sales increased 6.2% to USD 650 million, and Aerials sales increased 10.9% to USD 673 million. Consolidated bookings were USD 2 billion, up 25% year over year on a proforma basis, with backlog of USD 6.9 billion.

Updated Full Year Guidance

Management raised full year guidance to sales of USD 7.9 billion to USD 8.2 billion, adjusted EBITDA of USD 960 million to USD 1.0 billion, and adjusted earnings per share of USD 4.70 to USD 5.10. The company said net leverage improved to 2.3 times net debt to trailing twelve month adjusted EBITDA.

Figures to Follow in the Release

Investors can watch third quarter results against the raised full year guidance range of USD 7.9 billion to USD 8.2 billion in sales and USD 4.70 to USD 5.10 in adjusted earnings per share.