The strong beat and raised guidance support a bullish bias. Watch for continued margin improvement in MP and SV segments and any updates on tariff mitigation in Aerials. The raised outlook implies confidence in second-half performance despite macro uncertainties.
Price Chart
Executive Summary
Terex reported Q2 2026 adjusted EPS of $1.37, beating consensus of $1.23 by 11.4%, and revenue of $2.24B, beating $2.14B by 4.6%. The company raised its full-year 2026 outlook, now expecting sales of $7.9B-$8.2B and adjusted EBITDA of $960M-$1.0B. Strong bookings growth (+25% pro forma) and healthy backlog ($6.9B) support the raised guidance, despite mixed segment margins and ongoing tariff headwinds in Aerials.
Key Financial Metrics
Key Facts
- Q2 2026 adjusted EPS $1.37 vs consensus $1.23 (beat 11.4%)
- Q2 revenue $2.24B vs consensus $2.14B (beat 4.6%), pro forma up 8.5% YoY
- Raised FY2026 outlook: sales $7.9B-$8.2B, Adj. EBITDA $960M-$1.0B, Adj. EPS $4.70-$5.10
- Bookings $2.0B +25.2% pro forma; backlog $6.9B +3.9% pro forma
- Free cash flow $101M in Q2, up from $78M YoY
- Adjusted EBITDA margin 12.0% vs 12.2% in Q2 2025 (slight compression)
Financial Impact
Revenue beat $98M; EPS beat $0.14; FY guide raised by ~$0.20 at midpoint
Risk Factors
- Tariff headwinds (IEEPA) continue to pressure Aerials margins
- Integration risk from REV merger and synergy realization
- Higher interest expense ($185M guided) and leverage (~2.7x EBITDA)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000097216-26-000112 |
| Document: tex-20260730.htm | 0000097216-26-000112 |
| Document: 0000097216-26-000112-index-headers.html | 0000097216-26-000112 |
| Document: 0000097216-26-000112-index.html | 0000097216-26-000112 |
| Document: 0000097216-26-000112.txt | 0000097216-26-000112 |
| 8-K Data (Synthetic) | 0000097216-26-000112 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 31, 2026 8w ago | S-3ASR | $62.84 $63.73 | ▲ +1.42% | ▼ −1.57% | $56.70 (−9.77%) |
Jul 31, 2026 8w ago | 8-K | $62.84 $63.73 | ▲ +1.42% | ▼ −1.57% | $56.70 (−9.77%) |
Jul 30, 2026 9w ago | 8-K | $62.22 $64.54 | ▲ +3.73% | ▼ −0.24% | $56.70 (−8.87%) |
Jul 21, 2026 10w ago | 8-K | $64.77 $64.43 | ▼ −0.52% | ▼ −3.09% | $56.70 (−12.46%) |
Jul 20, 2026 10w ago | Press Release | $62.92 $67.34 | ▲ +7.02% | ▲ +2.90% | $56.70 (−9.89%) |
Jun 30, 2026 13w ago | 8-K | $68.70 $64.56 | ▼ −6.03% | ▼ −3.84% | $56.70 (−17.47%) |
Jun 11, 2026 16w ago | Institutional Cluster | $62.78 $64.63 | ▲ +2.95% | ▲ +1.06% | $56.70 (−9.68%) |
Apr 21, 2026 23w ago | 8-K | $60.90 $57.95 | ▼ −4.84% | ▼ −9.76% | $56.70 (−6.90%) |
Apr 13, 2026 24w ago | 8-K | $63.73 $64.13 | ▲ +0.63% | ▼ −5.67% | $56.70 (−11.03%) |
US Market Status
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