Terex Corporation (NYSE: TEX) announced its financial results for the third quarter of 2026 on October 28, 2026. The company reported net sales of $2.2 billion, which represents a 58.4% increase on a reported basis compared to the same period in 2025. On a pro forma basis, sales grew by 11.6% year over year.
For the quarter, Terex reported net income of $114 million, or $1.00 per diluted share. The company also reported adjusted net income of $171 million, or $1.50 per diluted share. Adjusted EBITDA for the quarter was $286 million, or a 13.0% margin.
Operational metrics showed strong demand, with bookings totaling $2.3 billion. This figure represents a 52.7% year-over-year increase on a pro forma basis. The backlog as of September 30, 2026, stood at $7.0 billion, an increase of $802 million, or 12.9% on a pro forma basis, driven by increased bookings across all four business segments.
Terex provided a refined outlook for full-year 2026. The company expects sales to reach $8.0 to $8.2 billion on a pro forma basis. Adjusted EBITDA is expected to be between $930 million and $960 million, with a margin of 11.7% at the midpoint. The company also projects free cash flow of $360 million to $400 million.
In terms of segment performance, Materials Processing and Specialty Vehicles saw growth driven by increased shipments and operational efficiency. Environmental Solutions reported net sales of $400 million, down 8.0% year over year, while Aerials reported net sales of $709 million, up 32.0% year over year.
Regarding capital allocation, the Board of Directors authorized a new $500 million share repurchase program. During the third quarter, the company returned $91 million to shareholders through share repurchases and dividends and reduced debt by $113 million.
