Terex Corp. Q3 adjusted earnings Miss Estimates

(RTTNews) - Terex Corp. (TEX) released a profit for third quarter that dropped from the same period last year.

The company's earnings came in at $38.6 million, or $0.51 per share. This compares with $59.2 million, or $0.66 per share, in last year's third quarter.

Excluding items, Terex Corp. reported adjusted earnings of $51.4 million or $0.68 per share for the period.

Analysts had expected the company to earn $0.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.8% to $1.23 billion from $1.11 billion last year.

Terex Corp. earnings at a glance:

-Earnings (Q3): $51.4 Mln. vs. $45.0 Mln. last year. -EPS (Q3): $0.68 vs. $0.50 last year. -Analysts Estimate: $0.77 -Revenue (Q3): $1.23 Bln vs. $1.11 Bln last year.

-Guidance: Full year EPS guidance: $2.60 - $2.70