Terex reported third‑quarter 2025 results with net sales of $1.387 billion, operating profit of $140 million, diluted earnings per share of $0.98, and net income of $65 million. Cash on hand at September 30 was $509 million, while total liquidity—including cash and available credit—stood at $1.3 billion.
Segment performance was mixed: Aerials generated $537 million in sales with an operating margin of 8.4 %, Materials Processing delivered $417 million in sales and a 12.5 % margin, and Environmental Solutions posted $435 million in sales with a 13.3 % margin. The Environmental Solutions unit, which incorporates the ESG business acquired in October 2024, contributed $58 million in operating profit.
Terex reaffirmed its full‑year 2025 outlook, projecting net sales between $5.3 billion and $5.5 billion and adjusted earnings per share of $4.70 to $5.10. The company expects a 12 % operating margin and free cash flow of $300 million to $350 million for the year.
The company highlighted a 200 % cash‑conversion rate in Q3 and a 100 % year‑to‑date conversion, and it returned $87 million to shareholders through dividends and share repurchases.
On October 30, Terex entered into a definitive agreement to merge with REV Group in a stock and cash transaction. The combined company will have approximately $7.8 billion in net sales and an adjusted EBITDA margin of about 11 %. The transaction is expected to close in the first half of 2026.
Terex also announced a strategic exit of its Aerials segment, a move aimed at reducing cyclicality and capital intensity to improve long‑term earnings quality.
Tariff impacts are anticipated to add a net unfavorable effect of roughly $0.70 per share for the full year, driven by expanded steel and aluminum tariffs.
Bookings for the quarter reached $1 billion, a 57 % year‑over‑year increase on a pro‑forma basis, indicating strong demand and a healthy backlog.
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