Lifting and material handling equipment company Terex (NYSE: TEX) will be announcing earnings results this Thursday before the bell. Here’s what you need to know.
Terex beat analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $1.49 billion, up 7.6% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ revenue estimates but full-year EBITDA guidance missing analysts’ expectations significantly.
Is Terex a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Terex’s revenue to grow 16.7% year on year to $1.41 billion, a reversal from the 6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.21 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Terex has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Terex’s peers in the heavy machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Greenbrier’s revenues decreased 27.9% year on year, missing analysts’ expectations by 0.6%, and PACCAR reported a revenue decline of 19%, topping estimates by 0.6%. PACCAR traded up 2.4% following the results.
Read our full analysis of Greenbrier’s results here and PACCAR’s results here.
There has been positive sentiment among investors in the heavy machinery segment, with share prices up 3.1% on average over the last month. Terex is up 11.5% during the same time and is heading into earnings with an average analyst price target of $56.82 (compared to the current share price of $57.08).
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