Terex Q3 Profit, Revenue Up; Lifts FY22 Outlook

(RTTNews) - Terex Corp. (TEX) on Thursday reported improved results for the third quarter, which came in above the Street view. The company also lifted its outlook for full year 2022. The company posted net income of $81.8 million or $1.20 per share in the third quarter, higher than $48.1 million or $0.68 per share in the same period last year. Net sales rose to $1.12 billion from $993.8 million a year ago. On average, analysts polled by Thomson Reuters expected the company to post earnings of $1.04 per share on revenues of $1.07 billion for the third quarter. Looking ahead, the company lifted its earnings per share outlook for 2022 to the range of $4.00-$4.20 from the earlier range of $3.80-$4.00. The company now expects sales of about $4.30 billion, compared to prior estimate of 4.1 billion and $4.3 billion.

For full year 2022, 16 analysts expect the company to post earnings of $3.96 per share on revenues of $4.22 billion.