While reporting financial results for the first quarter on Friday, industrial equipment manufacturer Terex Corp. (TEX) reiterated its earnings and revenue guidance for the full-year 2026.
For fiscal 2026, the company now projects earnings in a range of $4.50 to $5.00 per share on revenues between $7.5 billion and $8.1 billion.
"We continue to execute our strategy, including the integration of REV. We remain on track to deliver approximately $28 million of synergies in 2026 through the elimination of duplicate overhead and to achieve the full $75 million run-rate within our 24 month target," said Simon Meester, Terex President and CEO.
For the first quarter, the company reported a net loss of $89 million or $0.93 per share, compared to net income of $21 million or $0.31 per share in the prior-year quarter. Net loss from continuing operations for the latest quarter was $93 million or $0.97 per share.
Excluding items, adjusted earnings from continuing operations was $0.98 per share, compared to $0.83 per share in the year-ago quarter.
Net sales for the quarter increased to $1.73 billion from $1.23 billion in the same quarter last year.
In Friday's pre-market trading, TEX is trading on the NYSE at $63.00, up $0.78 or 1.25 percent.
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