Terex Corp
NYSE:TEX
Terex Corp
In the world of heavy machinery, Terex Corporation stands as a pivotal player, sculpting the landscape of modern construction and infrastructure. Born out of a series of strategic acquisitions and business metamorphoses, Terex has evolved into a global manufacturer of lifting and material-handling solutions. The company crafts a suite of machinery indispensable to construction, infrastructure, and mining industries. Through their focused product lines, such as aerial work platforms and cranes, Terex empowers companies to build skyward and delve deep, making their machinery an integral part of ambitious construction projects worldwide. Their emphasis on product innovation allows them to cater to specialized industry needs, ensuring that whether it's lifting heavy beams or moving massive earth loads, their machines are up to the task.
Revenue at Terex flows from a robust business model anchored in manufacturing excellence, complemented by a global distribution network. Utilizing manufacturing facilities strategically placed across the globe, Terex achieves operational efficiency, allowing for both a reduction in costs and increased market responsiveness. This footprint aids in delivering machinery and parts quickly across its diverse client base. Beyond just selling equipment, Terex also capitalizes on after-market services, providing maintenance and parts, ensuring longevity and reliability of their machines. This comprehensive approach not only secures initial sales but fosters enduring customer relationships, creating a steady revenue stream. Terex's ability to balance innovation with reliability ensures its place at the frontline of the machinery sector, turning industrial challenges into opportunities for growth and expansion.
In the world of heavy machinery, Terex Corporation stands as a pivotal player, sculpting the landscape of modern construction and infrastructure. Born out of a series of strategic acquisitions and business metamorphoses, Terex has evolved into a global manufacturer of lifting and material-handling solutions. The company crafts a suite of machinery indispensable to construction, infrastructure, and mining industries. Through their focused product lines, such as aerial work platforms and cranes, Terex empowers companies to build skyward and delve deep, making their machinery an integral part of ambitious construction projects worldwide. Their emphasis on product innovation allows them to cater to specialized industry needs, ensuring that whether it's lifting heavy beams or moving massive earth loads, their machines are up to the task.
Revenue at Terex flows from a robust business model anchored in manufacturing excellence, complemented by a global distribution network. Utilizing manufacturing facilities strategically placed across the globe, Terex achieves operational efficiency, allowing for both a reduction in costs and increased market responsiveness. This footprint aids in delivering machinery and parts quickly across its diverse client base. Beyond just selling equipment, Terex also capitalizes on after-market services, providing maintenance and parts, ensuring longevity and reliability of their machines. This comprehensive approach not only secures initial sales but fosters enduring customer relationships, creating a steady revenue stream. Terex's ability to balance innovation with reliability ensures its place at the frontline of the machinery sector, turning industrial challenges into opportunities for growth and expansion.
REV Group Merger: Terex closed its merger with REV Group ahead of schedule, creating a leading specialty equipment manufacturer and adding approximately $2.5 billion in revenue and $230 million in adjusted EBITDA from REV.
2025 Results: Full-year 2025 revenue was $5.4 billion (up 6%), EBITDA reached $635 million (11.7% margin), and EPS was $4.93, all in line with prior guidance.
Strong Q4 Performance: Q4 2025 net sales grew 6% to $1.3 billion, with segment operating margins and bookings up across the board, especially strong order growth in Environmental Solutions and Aerial segments.
2026 Outlook: Pro forma 2026 sales are expected to grow 5% to $7.5–8.1 billion, with EBITDA guided to $930 million–$1 billion (12.4% margin), including $28 million in synergies.
Synergy Targets: $75 million in run-rate synergies from the REV merger are expected within two years, with half delivered in the next 12 months.
Segment Dynamics: Environmental Solutions and Specialty Vehicles show strong momentum and backlog, while Aerials is expected to see flat sales and margins in 2026 due to tariff headwinds.
Aerials Strategic Review: The company is seeing strong inbound interest in its Aerials business and is being deliberate in evaluating potential divestiture options.
Cash Flow & Leverage: Free cash flow in 2025 improved by 71% to $325 million, and the company expects net leverage to improve through 2026.
