(RTTNews) - 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.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
