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Terex Corporation

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Terex’s third-quarter 2016 adjusted earnings plunged 57% year over year and fell short of the Zacks Consensus Estimate primarily dragged down by the Cranes segment performance which continues to bear the brunt of challenging markets. Due to ongoing challenges in the Cranes segment, Terex lowered its earnings per share guidance to between $0.70 and $0.80 in 2016, excluding restructuring and other unusual items. The company lowered its sales guidance to $4.2–$4.4 billion for full-year 2016. Terex has completed the previously announced sale of its German compact construction business and is on track to sell its MHPS business. This will aid the company to focus on its product portfolio. Terex will benefit from its cost-saving initiatives and product development. Additionally, its transition into a more focused and simpler company will boost result. However, lower demand for replacement of machines and weak mining market remain concerns.

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