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; [email protected]

Stock News for Terex (TEX)
DateTimeHeadline
01/19/201714:38:59Statement of Changes in Beneficial Ownership (4)
01/18/201706:04:52Current Report Filing (8-k)
01/17/201719:42:00Terex Corporation Announces Pricing of Senior Notes Offering
01/17/201708:50:00Terex Corporation Commences Cash Tender Offer for up to $550...
01/17/201708:26:00Terex Corporation Announces Proposed Senior Notes Offering
01/17/201708:18:40Current Report Filing (8-k)
01/17/201708:03:15Current Report Filing (8-k)
01/12/201712:14:59Statement of Changes in Beneficial Ownership (4)
01/10/201712:53:41Statement of Changes in Beneficial Ownership (4)
01/10/201712:53:16Statement of Changes in Beneficial Ownership (4)
01/10/201712:51:58Statement of Changes in Beneficial Ownership (4)
01/10/201712:49:45Statement of Changes in Beneficial Ownership (4)
01/10/201712:45:46Statement of Changes in Beneficial Ownership (4)
01/10/201706:05:14Current Report Filing (8-k)
01/04/201717:56:00Terex Corp. Announces $300 Million Partial Redemption of 6% Senior...
01/04/201714:18:00Terex Completes the Sale of Its Material Handling and Port Solutions...
01/03/201717:07:55Amended Statement of Beneficial Ownership (sc 13d/a)
12/30/201611:11:31Current Report Filing (8-k)
12/22/201613:52:39Statement of Changes in Beneficial Ownership (4)
12/19/201616:30:05Statement 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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US