Q4 2025 Terex Corp Earnings Call Transcript
Key Points
- Terex Corp (TEX) successfully completed its merger with REV Group, creating a leading specialty equipment manufacturer with significant synergies.
- The company reported strong financial performance for 2025, with earnings per share of $4.93 and EBITDA of $635 million, meeting expectations.
- Environmental Solutions segment achieved 14.1% year-over-year growth in Q4, driven by improved throughput and delivery.
- Aerials segment secured nearly $1 billion in new orders in Q4, a 46% increase from the previous year.
- The company anticipates 2026 sales growth of approximately 5% on a pro forma basis, with a strong backlog providing forward visibility.
- The Aerials segment faces headwinds from tariffs, with a full 12 months of impact expected in 2026, compared to six months in 2025.
- Interest and other expenses increased by $89 million in 2025 due to financing costs associated with acquisitions.
- The merger with REV Group is expected to have a modest 3% dilutive effect on EPS in 2026 due to a higher number of shares outstanding.
- The company is operating in a complex environment with macroeconomic variables and geopolitical uncertainties that could impact results.
- Utilities growth in the Environmental Solutions segment may lead to an unfavorable mix impacting margins, despite synergies and productivity improvements.
Greetings, and welcome to the Terex fourth-quarter 2025 results conference call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Derek Everitt, Vice President, Investor Relations.
Good morning, and welcome to the Terex fourth-quarter 2025 earnings conference call. A copy of the press release and presentation slides are posted on our investor relations website at investors.terex.com. In addition, the replay and slide presentation will be available on our website. We are joined today by Simon Meester, President and Chief Executive Officer; and Jennifer Kong, Senior Vice President and Chief Financial Officer. Their prepared remarks will be followed by a Q&A. Please turn to slide 2 of the presentation, which reflects our Safe Harbor statement.
Today's conference call contains forward-looking statements, which are subject to the risks that could cause actual results to be materially different from those expressed or
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