Terex Q3 Adjusted EPS $1.50; 2026 Outlook Refined and $500M Buyback Added
TEX sits 15% above its 52-week low of $41.7 on elevated volume (3.6× avg).
Summary
Terex reported Q3 adjusted EPS of $1.50 on $2.2B of sales, refined 2026 guidance to $4.80-$5.00 adjusted EPS, authorized a new $500M buyback, and said the Aerials separation is now in active talks with multiple strategic counterparties.
Key Events · Earnings and Guidance · TEX
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Q3 Adjusted EPS of $1.50
Net sales of $2.2B rose 58.4% reported and 11.6% pro forma; net income was $114M, or $1.00 per diluted share, and adjusted net income was $171M, or $1.50 per diluted share.
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New $500M Buyback Authorized
The Board approved a new $500M repurchase program, taking total availability to roughly $611M after $72M of Q3 repurchases left about $111M on prior programs.
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2026 Outlook Refined
Guidance now calls for sales of $8.0-$8.2B, adjusted EBITDA of $930-$960M (11.7% margin at the midpoint), adjusted diluted EPS of $4.80-$5.00 and free cash flow of $360-$400M.
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Aerials Separation in Active Talks
Management said the carve-out work has advanced and it has moved from evaluating inbound interest to active engagement with multiple strategic counterparties.
Analysis · TEX · Technology
Adjusted EPS of $1.50 on $2.2B of sales came in for Q3, and management tightened full-year guidance to $4.80-$5.00 adjusted EPS with $930-$960M of adjusted EBITDA. For holders, the bigger news is capital return: the Board added a new $500M repurchase authorization on top of roughly $111M left on existing programs, for about $611M available — meaningful against a company that generated $209M of free cash flow in the quarter alone. Separately, the Aerials separation has moved from evaluating inbound interest to active talks with multiple strategic buyers, the item most likely to re-rate the stock if a deal lands. Not every part of the quarter was clean: Environmental Solutions sales fell 8.0% and its adjusted EBITDA margin dropped to 15.3% from 19.2% on unfavorable mix and a Utilities production ramp.
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At the time of this filing, TEX was trading at $48.00 on NYSE in the Technology sector, with a market capitalization of approximately $5.7B. The 52-week trading range was $41.70 to $74.69. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.