Business
Terex Reports First Quarter 2026 Results
Terex Corporation (NYSE: TEX), a global leader in specialized equipment, serving essential sectors such as emergency services, waste and recycling, utilities, and construction, today announced its results for the first quarter 2026.
About this update from Terex Corporation
NORWALK, Conn., May 1, 2026 /PRNewswire/ -- Terex Corporation (NYSE: TEX), a global leader in specialized equipment, serving essential sectors such as emergency services, waste and recycling, utilities, and construction, today announced its results for the first quarter 2026. CEO Commentary"We are off to a good start and executing to plan, including the first 58 days with REV Group in our portfolio, now operating as our Specialty Vehicles (SV) segment, which made a meaningful contribution in the quarter. Our quarter-end backlog of $7.1 billion, supported by strong booking trends in Materials Processing, Aerials, and Terex Utilities, provides solid forward visibility. As a result, we are reiterating our full-year outlook," said Simon Meester, Terex President and Chief Executive Officer. "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." First Quarter Operational and Financial Highlights Business Segment Review Environmental Solutions Materials Processing Specialty Vehicles Aerials Balance Sheet and Liquidity CFO Commentary"Our overall first quarter operational financial results were consistent with our expectations. Adjusted EPS for the quarter of $0.98 which included approximately $0.10 of tax favorability when the Q1 rate is compared to our 2026 full year expected tax rate of 21%. Our operational EPS improvement was $0.05 compared to last year. Notably our current Q1 EPS is based on 96.1 million diluted weighted average shares outstanding, up from 66.9 million diluted weighted average shares outstanding in the first quarter of 2025," commented Jennifer Kong-Picarello, Senior Vice President and Chief Financial Officer. "I was also pleased with our net working capital efficiency improvement in the quarter which decreased to 16.7%, down 930 basis points compared with the prior year largely due to the addition of Specialty Vehicles. Looking ahead, we are confirming our full year outlook, which includes the impact of the recent change in 232 tariffs which is expected to be negligible as the vast majority of our US sales are manufactured in the US." 2026 Outlook With Q1 operational performance in line with ...