Overview

• U.S. specialized equipment maker's Q1 sales rose 41%, meeting analyst expectations

• Adjusted EPS for Q1 was $0.98, beating analyst expectations

• Company reaffirmed 2026 outlook, citing strong backlog and Specialty Vehicles integration

Outlook

• Terex reaffirms 2026 sales outlook of $7.5 bln to $8.1 bln

• Company sees 2026 EBITDA of $930 mln to $1 bln, with 12.4% margin at midpoint

• Terex expects 2026 adjusted EPS of $4.50 to $5.00

Result Drivers

• SPECIALTY VEHICLES INTEGRATION - Addition of Specialty Vehicles segment from REV Group contributed to sales and adjusted EBITDA growth

• MATERIALS PROCESSING VOLUME AND PRICING - Higher shipment volumes and price realization in Materials Processing boosted segment results

• TARIFFS AND PRODUCT MIX - Tariffs and unfavorable product mix negatively affected margins in Aerials and Environmental Solutions

Company press release: ID:nPn2CmnR3a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Sales	Meet	$1.70 bln	$1.70 bln (9 Analysts)
Q1 Adjusted EPS	Beat	$0.98	$0.77 (12 Analysts)

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"

• Wall Street's median 12-month price target for Terex Corp is $75.67, about 21.6% above its April 30 closing price of $62.20

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 10 three months ago

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