Lifting and material handling equipment company Terex (NYSE: TEX) will be reporting results tomorrow before market open. Here’s what you need to know.
Terex beat analysts’ revenue expectations by 3.7% last quarter, reporting revenues of $1.21 billion, down 6.1% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ organic revenue and adjusted operating income 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 be flat year on year at $1.23 billion, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $0.75 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 twice over the last two years.
Looking at Terex’s peers in the heavy machinery segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Caterpillar’s revenues decreased 5% year on year, missing analysts’ expectations by 2%, and Cummins reported a revenue decline of 1.1%, topping estimates by 4.7%. Caterpillar traded down 5.6% following the results.
Read our full analysis of Caterpillar’s results here and Cummins’s results here.
Investors in the heavy machinery segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. Terex is up 12.3% during the same time and is heading into earnings with an average analyst price target of $53.64 (compared to the current share price of $51.41).
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