Lifting and material handling equipment company Terex (NYSE: TEX) will be reporting earnings this Thursday morning. Here’s what to expect.
Terex missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $1.23 billion, down 4.9% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ organic revenue estimates and a solid beat of analysts’ EBITDA estimates.
Is Terex a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Terex’s revenue to grow 4% year on year to $1.44 billion, a reversal from the 1.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.40 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Terex has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Terex’s peers in the heavy machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Lindsay delivered year-on-year revenue growth of 21.7%, beating analysts’ expectations by 4.6%, and Greenbrier reported revenues up 2.7%, topping estimates by 7.3%. Lindsay traded up 3.9% following the results while Greenbrier was also up 21.1%.
Read our full analysis of Lindsay’s results here and Greenbrier’s results here.
There has been positive sentiment among investors in the heavy machinery segment, with share prices up 5.5% on average over the last month. Terex is up 6.7% during the same time and is heading into earnings with an average analyst price target of $51.45 (compared to the current share price of $49.84).
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