Terex stock in focus after Q1 earnings beat, with strong revenue growth and backlog supporting outlook.
Stock Earnings Results
May 1, 2026
Table of Contents
May 1, 2026
Terex Corporation (NYSE: TEX) reported first-quarter 2026 results above expectations, supported by higher sales, Specialty Vehicles contribution, and strong backlog visibility.
Terex is a global manufacturer of specialized equipment used in emergency services, waste and recycling, utilities, materials processing, aerial work platforms, and construction.
The company reported adjusted EPS of $0.98, above estimates of $0.78, representing a 25.6% earnings surprise and 41.1% revenue growth. Revenue came in at $1.73 billion, above estimates of $1.70 billion. Net sales increased 41.1% year-over-year on a reported basis, while pro forma sales rose 11%.
The key signal was backlog strength.
Terex ended the quarter with backlog of $7.1 billion and a book-to-bill ratio of 109%, giving investors visibility into future demand across Materials Processing, Aerials, and Terex Utilities.
The quarter included the first 58 days of REV Group in Terex’s portfolio, now operating as the Specialty Vehicles segment.
Specialty Vehicles contributed $436 million in net sales and posted adjusted EBITDA of $62 million, or 14.2% of sales, on a pro forma basis.
Adjusted EBITDA reached $173 million, or 9.9% of sales, compared with $128 million, or 10.4% of sales, in the prior year.
The company cited benefits from Specialty Vehicles, higher Materials Processing volume, and operational improvements, partly offset by tariffs and unfavorable mix in Aerials and Environmental Solutions.
Terex reaffirmed its 2026 outlook, including:
Management said the outlook reflects current tariff rates and continued integration of Specialty Vehicles.
Investors are likely to watch whether Terex can convert backlog into revenue while managing tariff and integration costs.
The key areas are:
Terex’s report shows why industrial earnings need more than headline EPS.
The beat was positive, but the stronger signal is forward visibility from backlog and management’s decision to reaffirm guidance despite tariff and mix pressure.
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