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Get filing alertsTerex reports 11% Q1 sales growth, reaffirms 2026 outlook, advances Aerials strategic review
Filed May 5, 2026 · Period ending May 1, 2026 · ~1 min read
Key Changes
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Q1 2026 sales grew 11% proforma with all four segments up; EPS rose 18% to $0.98, backlog reached $7.1B. Full-year guidance reaffirmed: $7.5-8.1B sales, $930M-1B EBITDA, $4.50-5.00 EPS.
Exhibit 99.1 view on EDGAR → -
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Strategic review of Aerials business progressing with multiple interested parties engaged to maximize shareholder value; no timeline or details disclosed yet.
Exhibit 99.1 view on EDGAR → -
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REV Group integration on track: $28M synergies expected in 2026, $75M run-rate within 24 months. All workstreams at or ahead of schedule.
Exhibit 99.1 view on EDGAR → -
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Portfolio now 80% North America revenue, 85% U.S.-manufactured, reducing exposure to global macro and trade policy volatility versus prior years.
Exhibit 99.1 view on EDGAR →
Summary
Terex delivered solid first-quarter results with 11% proforma sales growth across all segments and 18% EPS growth to $0.98, driven by strong performance in the new Specialty Vehicles segment (up 20%) and robust bookings that pushed backlog to $7.1 billion.
Management reaffirmed full-year 2026 guidance for $7.5-8.1 billion in sales and $4.50-5.00 EPS, signaling confidence in the business trajectory despite macro uncertainty. The company disclosed progress on two strategic initiatives that matter for valuation.
First, the REV Group integration remains on schedule with $28 million in synergies expected this year and a clear path to the $75 million run-rate target within 24 months. Second, the strategic review of the Aerials business is advancing with multiple parties engaged, though no timeline or outcome has been announced. The Aerials segment holds over $1 billion in backlog, so the review's resolution could materially reshape the portfolio. Terex also highlighted a deliberate portfolio shift toward U.S.-based operations, with 80% of revenue now from North America and 85% of that domestically manufactured. This positioning reduces exposure to global trade and tariff risks compared to the company's historical footprint. For holders, the quarter validates the integration thesis and sets up two catalysts to watch: Aerials review outcomes and continued synergy capture through 2026.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
We grew sales by 11% on a proforma basis, including growth in all four segments, led by SV which grew 20% compared to the same period last year. ... And earnings per share (“EPS”) increased 18% year-over-year to $0.98 cents, or a 6% improvement with a normalized tax rate. Quarter-ending backlog increased to $7.1 billion
Terex disclosed first quarter 2026 results showing 11% proforma sales growth across all four segments, with the new Specialty Vehicles segment leading at 20% growth. EPS rose 18% to $0.98 (6% with normalized tax rate). Backlog reached $7.1 billion, driven by strong bookings in Materials Processing, Aerials, and Terex Utilities. The company reiterated its full-year 2026 outlook. Note: these figures were previously disclosed in the company's May 1, 2026 8-K.
Added in current filing · view on EDGAR →
We are also pleased with the progress we are making with the strategic review of our Aerials business. We continue to engage with multiple interested parties and are working towards an outcome that maximizes value for our shareholders. We do not have any specific details to share at this time, but we will continue to update you as the process unfolds.
Terex disclosed it is making progress on a strategic review of its Aerials business segment, engaging with multiple interested parties to maximize shareholder value. No specific details or timeline were provided, but the company committed to providing updates as the process continues. The Aerials segment generated $469 million in Q1 sales with breakeven EBITDA and holds over $1 billion in backlog.
Added in current filing · view on EDGAR →
Overall, we continue to expect 2026 sales to grow approximately 5% on a proforma basis to $7.5 to $8.1 billion. We further expect proforma EBITDA to grow by approximately $100 million or 12% year over year to between $930 million and $1 billion, or 12.4% EBITDA margin at the mid-point. ... We expect 2026 EPS between $4.50 and $5.00.
Terex reaffirmed its full-year 2026 guidance, expecting sales of $7.5 to $8.1 billion (approximately 5% proforma growth), EBITDA of $930 million to $1 billion (12% growth, 12.4% margin at midpoint), and EPS of $4.50 to $5.00. The outlook includes approximately $28 million of synergies and assumes an effective tax rate of 21%. Free cash conversion is expected at 80% to 90% of net income. Note: these figures were previously disclosed in the company's May 1, 2026 8-K.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify