Terex reported third-quarter 2026 sales of 2.2 billion dollars, up 58.4% on a reported basis, with adjusted earnings of 1.50 dollars a share, a 7 billion dollar backlog, and a new 500 million dollar share repurchase authorisation.
Terex reported third-quarter 2026 sales of 2.2 billion dollars on October 28, up 58.4 percent on a reported basis, with pro forma sales up 11.6 percent. The Norwalk, Connecticut-based maker of lifting and materials-processing equipment said net income was 114 million dollars, adjusted net income was 171 million dollars, and adjusted earnings before interest, tax, depreciation and amortisation were 286 million dollars, a 13.0 percent margin. Diluted earnings per share were 1.00 dollar, and adjusted diluted earnings per share were 1.50 dollars.
Orders told a stronger story than the reported sales figure alone. Bookings of 2.3 billion dollars rose 52.7 percent year over year on a pro forma basis, giving a book-to-bill ratio of 103 percent, and backlog reached 7.0 billion dollars, up 802 million dollars, or 12.9 percent pro forma, from a year earlier, with growth in bookings across all four segments. The company said it was making progress integrating an expanded group, capturing synergies and applying more consistent operating discipline.
Terex also refined its 2026 outlook to sales of 8.0 billion to 8.2 billion dollars, adjusted earnings before interest, tax, depreciation and amortisation of 930 million to 960 million dollars, and free cash flow of 360 million to 400 million dollars. Its board approved a new 500 million dollar share repurchase authorisation. President and chief executive Simon Meester said the company had moved from evaluating inbound interest in separating its Aerials segment to active engagement with multiple strategic counterparties, while the Aerials team remained focused on customers and growth.
The figures are the company's own, from its release, and the distinction between reported and pro forma growth is important: the 58.4 percent reported jump reflects an expanded company after acquisitions, while the 11.6 percent pro forma figure strips that effect out and is the cleaner measure of underlying demand. No independent audit of the quarter is claimed here, and the outlook figures are management guidance, not results.
The next markers are whether the 7 billion dollar backlog converts into sales at the guided margin, and what outcome the Aerials separation process produces. A carve-out that maximises shareholder value, in Meester's framing, would reshape Terex into a more focused equipment group; a stalled process would leave the backlog, rather than the separation, as the main story.