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TEX · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Terex Corporation (TEX) stock moving?
Terex beat Q3 2026 consensus on October 28, with sales of $2.197B against $2.168B expected and adjusted EPS of $1.50 against $1.42. The company also authorized a $500M share repurchase and raised the low end of full-year sales guidance to $8.0B-$8.2B, lifting the midpoint from $8.05B to $8.10B. GAAP EPS guidance was narrowed to $4.80-$5.00, but its midpoint stayed at $4.90, so the EPS change is a narrowing rather than an upgrade. The stock closed at $53.20 on the results day, with volume of 5.1M against a 30-day norm of about 1.3-1.8M, then rose to $56.38 on Oct 29 and reached an intraday high of $59.26 on Nov 2. It has since eased to $58.05 on Nov 9 and $57.05 on Nov 10, with volume on Nov 10 at 855K. Analyst views remain constructive but less exuberant: Truist raised its target to $87 with a Buy rating, Morgan Stanley kept Overweight and trimmed its target to $84, and Evercore kept Outperform while cutting its target to $79 on Nov 10. All three targets sit roughly 38-53% above the last close. The main points against the stock are the trimmed targets, the fading post-earnings volume, and the flat EPS midpoint.
News behind the analysis
- Evercore ISI Group Maintains Outperform on Terex, Lowers Price Target to $79Evercore ISI kept its Outperform rating on Terex but cut its price target to $79. That target is about 38% above the Nov 10 close of $57.05.
- Morgan Stanley Maintains Overweight Rating on Terex, Adjusts Price TargetMorgan Stanley maintained its Overweight rating and lowered its Terex price target from $86 to $84.
- Truist Securities Reiterates Buy on Terex, Raises Price Target to $87Truist reiterated its Buy rating on Terex and raised its price target to $87 after the third-quarter results.
- Truist Securities Adjusts Price Target on Terex to $87 From $85Truist raised its Terex price target from $85 to $87 and kept its Buy rating.
- Terex Corporation Reports Third Quarter 2026 Financial Results and Announces New Share Repurchase ProgramTerex reported $2.2 billion in Q3 sales and adjusted EPS of $1.50, narrowed full-year 2026 guidance, and authorized a new $500 million share repurchase program.
- Terex Q3 2026 Earnings Call TranscriptTranscript of the Oct 28 third-quarter 2026 earnings call, where management discussed results and the outlook.
- Terex Narrows FY2026 GAAP EPS Guidance from $4.70-$5.10 to $4.80-$5.00 vs $2.58 Est; Raises FY2026 Sales Guidance from $7.900B-$8.200B to $8.000B-$8.200B vs $8.148B EstFull-year GAAP EPS guidance was narrowed to $4.80-$5.00, with the midpoint unchanged at $4.90. Sales guidance was raised to $8.0B-$8.2B, with the midpoint moving from $8.05B to $8.10B.
- Terex Q3 Adj. EPS $1.50 Beats $1.42 Estimate, Sales $2.197B Beat $2.168B EstimateTerex beat third-quarter consensus on both adjusted EPS ($1.50 vs $1.42) and sales ($2.197B vs $2.168B).
About Terex Corporation
Terex is a Norwalk, Connecticut-based maker of industrial equipment, including Genie aerial work platforms, crushing and screening machines, refuse trucks and specialty vehicles such as fire trucks and ambulances. In 2026 it combined with REV Group, which made it much bigger and shifted more of the business toward emergency and municipal vehicles, with full-year sales guided to roughly $8 billion.
How it makes money
Terex sells equipment and related parts and services through four segments. Materials Processing makes crushers, screens and material handlers. Aerials sells Genie lifts, mostly to equipment-rental companies. Specialty Vehicles, which came from REV Group, builds fire apparatus, ambulances and other vehicles. Environmental Solutions makes refuse-collection trucks and related equipment. Quarterly sales were about $2.2 billion in Q3 2026, and the order backlog was about $7 billion.
What usually moves TEX
- Construction and infrastructure activity
- Equipment-rental company spending on aerial lifts
- Municipal budgets for fire, ambulance and refuse vehicles
- Steel costs and tariffs
- Progress integrating REV Group and capturing cost savings