Terex: 3Q Earnings Snapshot
WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Wednesday reported third-quarter earnings of $21.4 million.
The Westport, Connecticut-based company said it had net income of 30 cents per share. Earnings, adjusted to account for discontinued operations and pretax expenses, were 82 cents per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The machinery products maker posted revenue of $1.02 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $1.1 billion.
Terex shares have climbed nearly 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.89, a decrease of roughly 10% in the last 12 months.