EarningsQ2 2026 Earnings Report
MX:TEX Q2 2026 EPS Results
Actual EPS$23.34
Consensus EPS$20.99
Beat/MissBeat by +$2.35
One Year Ago EPS$25.38
MX:TEX Q2 2026 Revenue Results
Actual Revenue$38.12B
Expected Revenue$36.45B
Beat/MissBeat by +$1.68B
YoY Revenue Growth+50.50%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:TEX Upcoming Earnings
Terex's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:TEX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call was constructive: multiple clear operational and financial improvements (revenue growth, bookings +25%, backlog of $6.9B, adjusted EBITDA growth and margin improvements, cash generation, working capital reduction, and successful integration progress) outweighed near-term headwinds (tariffs/customs, Aerials' lower YoY margin, temporary ESG softness and regional variability). Management raised full-year guidance and signaled continued execution on synergies and capacity expansions, supporting a positive outlook despite macro and tariff uncertainties.Company Guidance
Consolidated Revenue Growth
Q2 consolidated sales of $2.24 billion (or $2.2B cited) representing pro forma revenue growth of 8.5% year-over-year. Company raised full-year sales guidance to $7.9B–$8.2B (midpoint ~7.4% pro forma growth).
Adjusted EBITDA and Margin Improvement
Adjusted EBITDA of $269 million in Q2, up $26 million or 10.7% year-over-year (pro forma). Adjusted EBITDA margin improved to 12.0% from 11.8% pro forma a year ago; full-year adjusted EBITDA guidance raised to $960M–$1.0B (12.2% margin at midpoint).
Strong Bookings and Backlog
Consolidated Q2 bookings of ~$2.0 billion, up 25% year-over-year (pro forma). Backlog totaled $6.9 billion, providing multi-quarter visibility and supporting the raised guidance.
Free Cash Flow and Working Capital Progress
Q2 operating cash flow of $128 million and free cash flow of $101 million. Net working capital declined to 13.2% of sales from 22.8% year-over-year (and 16.7% in Q1), supporting liquidity and balance sheet improvement.
Leverage and Capital Allocation
Net debt of $2.28 billion with $407 million cash on hand and net leverage improved to 2.3x (net debt / 12-month adjusted EBITDA). Returned $20 million to shareholders via dividends in the quarter and expect $300M–$350M free cash flow for 2026.
Specialty Vehicles: Record Earnings & Integration Progress
Specialty Vehicles (including REV) delivered record earnings performance; Q2 sales of $650 million, up 6.2% year-over-year. Adjusted EBITDA margin improved 210 basis points to 14.5%. Integration synergies proceeding: $28M of synergies included in guidance, ~20% realized in Q2 with remaining expected in H2.
Materials Processing: Margin Expansion
Materials Processing Q2 sales $464 million, up 11.1% year-over-year. Adjusted EBITDA margin expanded ~440 basis points to 18.8% (including ~180 basis points of one-time benefits). MP backlog $599 million, up 63% year-over-year, supporting updated outlook of low double-digit sales growth.
Aerials: Demand Recovery and Backlog Growth
Aerials Q2 sales $673 million, up 10.9% year-over-year; bookings grew 71% YoY to $530 million and backlog rose to $914 million (+28% YoY). Sequential margin improvement of ~560 basis points; company expects low double-digit Aerials sales growth and to be price/cost neutral full-year despite tariff headwinds.
Environmental Solutions: Utilities Momentum
Environmental Solutions Q2 sales $456 million, up 5.9% YoY. Bookings increased 18% YoY driven by utilities. Segment adjusted EBITDA margin 17.5% (down 250 bps YoY) but utility demand and manufacturing efficiency initiatives support a constructive multi-year outlook.
Strategic Actions & Execution
Progress on strategic priorities: REV merger integration, ESG acquisition integration, capacity expansions (Ocala ladder plant and Brandon S-180 pumper plant nearing completion with first Brandon deliveries expected in Q4), and a formal strategic review of Aerials with interest from multiple parties.
MX:TEX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed