Terex: 2Q Earnings Snapshot
WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Monday reported second-quarter net income of $75.1 million.
On a per-share basis, the Westport, Connecticut-based company said it had profit of $1.05. Earnings, adjusted for one-time gains and costs, were $1.21 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.
The machinery products maker posted revenue of $1.31 billion in the period, which also did not meet Street forecasts. Eight analysts surveyed by Zacks expected $1.32 billion.
Terex shares have increased 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $33.14, a decline of 25% in the last 12 months.