Terex (TEX) Misses Q3 EPS by 9c; Sees FY15 EPS at Low-End of Guidance

Terex (NYSE: TEX) reported Q3 EPS of $0.53, $0.09 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $1.64 billion versus the consensus estimate of $1.56 billion.

Backlog for orders deliverable during the next twelve months was $1,482 million at September 30, 2015, a decrease of 19.2% from June 30, 2015 and a decrease of 13.0% from September 30, 2014. Excluding the impact of foreign exchange rate changes, backlog at September 30, 2015 decreased 5.9% from September 30, 2014 primarily driven by decreases in our MHPS and Cranes backlog which were slightly offset by increases in AWP backlog.

Guidance:

CEO Ron DeFeo said, “Given where we are in the year and the challenging environment we are operating in, we believe we will be at or near the low end of our previously announced earnings guidance for the full year 2015.”

For earnings history and earnings-related data on Terex (TEX) click here.

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