Terex Q2 Profit Plunges - Quick Facts

(RTTNews) - Terex Corp. (TEX) reported a second-quarter net income attributable to the company of $21.3 million or $0.18 per share, compared to $85.9 million or $0.77 per share in the year-ago quarter.

Income from continuing operations for the current quarter was $21.3 million or $0.18 per share, compared to $83.6 million or $0.75 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations was $150.3 million for the latest quarter.

Meanwhile, net sales for the latest second quarter dropped 5.1% to $1.91 billion from $2.01 billion a year ago.

On average, seventeen analysts polled by Thomson Reuters expected the company to earn $0.55 per share on revenue of $1.98 billion for the second quarter. Analysts' estimates typically exclude special items.

For fiscal 2013, the company expects earnings to be in the range of $1.90 per share to $2.10 per share and revenues of $7.5 billion to $7.7 billion. Analysts currently expect earnings of $1.99 per share on revenues of $7.52 billion for fiscal 2013.

Earlier, the company expected fiscal 2013 earnings of $2.40 to $2.70 per share and revenues between $7.9 billion to $8.3 billion.