Terex swings to $89M loss on $112M REV inventory step-up; Aerials margin erodes to 0%

Filed May 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 2, 2025 · ~2 min read

Key Changes

• high

  Company swung to $89M net loss (vs. $21M income prior year) and $82M operating loss (vs. $69M profit) driven by $112M inventory step-up amortization from REV acquisition and new tariff costs hitting Aerials and Materials Processing segments.

  MD&A: Operating Results verify on EDGAR →
• high

  Aerials Adjusted EBITDA collapsed to $0 (0.0% margin) from $20M (4.4% margin) prior year, driven by tariffs not present in Q1 2025, unfavorable product mix, and timing of price realization—a complete margin erosion in the segment.

  MD&A: Aerials Segment verify on EDGAR →
• high

  REV Transaction closed Feb 2, 2026, adding new Specialty Vehicles segment with $436M sales and $62M Adjusted EBITDA in partial quarter; backlog rose to $7.1B from $2.6B, driven by acquired SV backlog and strong MP/Aerials bookings.

  MD&A: REV Transaction verify on EDGAR →