Yahoo Finance Earnings To Watch: Terex (TEX) Reports Q2 Results Tomorrow
Lifting and material handling equipment company Terex (NYSE:TEX) will be reporting earnings tomorrow after market hours. Here's what investors should know.
Terex beat analysts' revenue expectations by 5% last quarter, reporting revenues of $1.29 billion, up 4.6% year on year. It was a stunning quarter for the company, with an impressive beat of analysts' organic revenue estimates and a solid beat of analysts' earnings estimates.
Is Terex a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Terex's revenue to grow 1.7% year on year to $1.43 billion, slowing from the 30.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.07 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Terex has missed Wall Street's revenue estimates twice over the last two years.
Looking at Terex's peers in the heavy machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. PACCAR's revenues decreased 2.1% year on year, meeting analysts' expectations, and Federal Signal reported revenues up 10.8%, in line with consensus estimates. PACCAR traded down 9.3% following the results while Federal Signal was up 5.3%.
Read our full analysis of PACCAR's results here and Federal Signal's results here.
There has been positive sentiment among investors in the heavy machinery segment, with share prices up 10.9% on average over the last month. Terex is up 24.6% during the same time and is heading into earnings with an average analyst price target of $63.2 (compared to the current share price of $66.76).
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