ADVFN - Advanced Financial Network.
HOME» NYSE » T » TEX Stock Price » TEX Stock News

Terex Share News

 Terex Corp. Stock Price
TEX Stock Price
 Terex Corp. Stock Chart
TEX Stock Chart
 Terex Corp. Stock News
TEX Stock News
 Terex Corp. Company Information
TEX Company Information
 Terex Corp. Stock Trades
TEX Stock Trades

Terex 2Q Loss Narrows; Shares Fall On Weak Adjusted Profit, Outlook

DOW JONES NEWSWIRES Terex Corp.'s (TEX) second-quarter loss narrowed significantly, and it swung to a profit on a continuing-operations basis on strong sales. But shares were down 6.3% at $25.50 after hours because the bottom line was still weaker than expected even after adjustments for one-time items. Through the close, the stock has declined 12% so far this year. The company, which makes specialized equipment such as tower cranes and rock crushers, also lowered its full-year earnings outlook, although it hoisted its revenue projection slightly higher. Wednesday, it predicted adjusted earnings of 40 cents to 60 cents a share, compared with its February target for 60 cents 75 cents a share. It now predicts revenue will be $5.4 billion to $5.6 billion, after it forecast $5.2 billion to $5.5 billion in May. The company has been posting frequent quarterly losses, as raw materials costs and lingering weakness in construction and industrial markets weighed on the bottom line. Wednesday, the company posted a loss of $500,000, or less than a penny a share, compared with a year-earlier loss of $40.3 million, or 37 cents a share. Its bottom line from continuing operations swung to a penny profit from a 12-cent loss a year earlier. It said that excluding restructuring and acquisition charges and a gain from selling Bucyrus International stock, earnings from continuing operations would have been 10 cents a share. Revenue increased 38% to $1.49 billion. Analysts surveyed by Thomson Reuters predicted earnings of 18 cents a share on revenue of $1.36 billion. Gross margin inched up to 14.4% from 14.3%. Revenue in the aerial work platforms business doubled. Sales in the cranes unit rose 3.3%, while revenue increased 29% for construction. As of March 31, total backlog was $1.76 billion, 57% higher than a year earlier but down slightly from the first quarter's $1.79 billion. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;

Stock News for Terex (TEX)
11/08/201515:15:03The Best Stocks in Construction Machinery
11/06/201517:11:11Amended Statement of Changes in Beneficial Ownership (4/a)
11/04/201514:59:28Initial Statement of Beneficial Ownership (3)
10/26/201517:32:49Statement of Changes in Beneficial Ownership (4)
10/26/201517:30:14Statement of Changes in Beneficial Ownership (4)
10/23/201515:31:18Quarterly Report (10-q)
10/20/201517:47:00Terex Announces Third Quarter 2015 Results
10/20/201517:40:23After Hours Gainers / Losers
10/20/201517:29:45Terex misses by $0.04, beats on revenue
10/19/201515:00:00Terex Announces Quarterly Dividend
10/16/201509:24:41Filing of Certain Prospectuses and Communications in Connection...
10/15/201518:20:00Terex Names New CEO
10/15/201516:15:00Terex Names John L. Garrison, Jr. New Chief Executive Officer
10/13/201516:30:31Current Report Filing (8-k)
10/13/201512:17:31Filing of Certain Prospectuses and Communications in Connection...
10/13/201508:00:00Terex Corporation Announces Third Quarter 2015 Financial Results...
10/12/201508:34:41Our Top Trades Review - October
10/07/201511:18:07Confidential Treatment Order (ct Order)
10/05/201516:46:08Statement of Changes in Beneficial Ownership (4)
10/05/201516:45:17Statement of Changes in Beneficial Ownership (4)

Terex and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations