Terex Corporation · NYSE:TEX
Terex — Q3 2026 Earnings Presentation
24 slides from Terex's earnings presentation, Oct 28, 2026
Slide 1: Terex 3Q 2026 Earnings Presentation
THIRD QUARTER FISCAL 2026 RESULTS Terex 3Q 2026 Earnings Presentation Terex Corporation | NYSE: TEX
Slide 2: Forward Looking Statements
Forward Looking Statements Certain information in this presentation includes forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”) and the Private Securities Litigation Reform Act of 1995)
Slide 3: Q3 Consolidated Highlights
Q3 Consolidated Highlights QUARTERLY RESULTS Q3 2026 VS. Q3 2025 BOOKINGS +53% Net sales $2,197M ▲ 58.4% year over year BACKLOG1 Adjusted EBITDA* $286M ▲ 53.8% $7.0B at quarter end CONSOLIDATED BOOK TO BILL $1.50 Adjusted Diluted EPS* Equal 103% for the quarter FULL-YEAR 2026 GUIDANCE REFINED Net Sa
Slide 4: Q3 Healthy Demand Environment Across the Portfolio
Q3 Healthy Demand Environment Across the Portfolio INFRASTRUCTURE, POWER & DATA CENTERS Supporting Utilities, Materials Processing and Aerials demand MUNICIPAL REPLACEMENT DEMAND Durable fire and emergency equipment demand; aging fleets support long- term replacement REFUSE COLLECTION VEHICLES Order
Slide 5: Q3 Integration, Operational Execution, Brand Strength
Q3 Integration, Operational Execution, Brand Strength INTEGRATION & PROCUREMENT OPERATING DISCIPLINE CAPACITY EXPANSION BRAND STRENGTH • Foundational integration • Deploy proven Terex practices • Ramp Utilities capacity to • Decades of customer complete and digital manufacturing tools support growth
Slide 6: Q3 Consolidated Financial Results
Q3 Consolidated Financial Results NET SALES ADJUSTED EBITDA* ADJUSTED DILUTED EPS* $2,197M $286M $1.50 $1.50 $1,387M $186M 2025 2026 2025 2026 2025 2026 +58.4% +53.8% Equal vs. prior year vs. prior year vs. prior year FREE CASH FLOW* RETURN OF CASH TO SHAREHOLDERS NET DEBT $209M $19M $72M $2.17B +60
Slide 7: Q3 Environmental Solutions
Q3 Environmental Solutions SALES ADJUSTED EBITDA* $435 $83 $400 $61 2025 2026 2025 2026 (8.0)% YoY (26.5)% YoY (8.0)% FX neutral 15.3% vs. 19.2% margin SALES DRIVERS: MARGIN DRIVERS: + Higher utilities product sales − Unfavorable mix − Lower refuse collection vehicle (RCV) shipments − Utilities ramp
Slide 8: Q3 Materials Processing
Q3 Materials Processing SALES 1 ADJUSTED EBITDA* 1 $84 $434 $390 $55 2025 2026 2025 2026 +11.3% YoY +52.7% YoY +11.9% FX neutral 19.3% vs. 14.0% margin SALES DRIVERS: MARGIN DRIVERS: + Increased shipments across most product categories + Higher production and shipment volume + High North America uti
Slide 9: Q3 Specialty Vehicles
Q3 Specialty Vehicles SALES 1 ADJUSTED EBITDA* 1 $657 $105 $608 $79 2025 2026 2025 2026 +8.1% YoY +32.9% YoY on a pro forma basis 16.0% vs. 13.0% margin SALES DRIVERS: MARGIN DRIVERS: + Higher sales of fire apparatus and recreational vehicles + Operating efficiencies + Price cost discipline − Inflat
Slide 10: Q3 Aerials
Q3 Aerials SALES ADJUSTED EBITDA* $709 $62 $56 $537 2025 2026 2025 2026 +32.0% YoY +10.7% YoY +32.1% FX neutral 8.7% vs. 10.5% margin SALES DRIVERS: MARGIN DRIVERS: + Strong demand from national accounts + Cost out actions + Large projects driving capex spending + Higher sales volume − Unfavorable c
Slide 11: Q3 Book-to-bill Consolidated 103%
Q3 Book-to-bill Consolidated 103% Environmental Solutions* Materials Processing* Net Bookings Book-to-bill Net Bookings Book-to-bill 105% 107% 112% 149% 97% 90% 92% 127% 118% 82% 85% 95% 93% 109% 101% 78% 87% 58% $298 $392 $384 $353 $389 $456 $347 $417 $445 $238 $353 $451 $396 $363 $465 $623 $469 $5
Slide 12: 2026 Outlook
2026 Outlook CONSOLIDATED OUTLOOK 3,4 - REFINED VS. PRIOR GUIDANCE NET SALES 2 ADJUSTED EBITDA 1 DILUTED EPS 1 FREE CASH FLOW 1 $8.0B - $8.2B $930M - $960M $4.80 - $5.00 $360M - $400M Prior: $7.8B - $8.1B Prior: $960M - $1.0B Prior: $4.70 - $5.10 Prior: $300M - $350M SEGMENT SALES OUTLOOK Environmen
Slide 13: Appendix: Supporting Detail & Reconciliations
SUPPLEMENTAL INFORMATION Appendix Supporting Detail & Reconciliations
Slide 14: Q3 net sales bridge and diluted EPS call-outs
Q3 net sales bridge and diluted EPS call-outs Q3 2026 NET SALES BRIDGE ($M) Q3 2026 DILUTED EPS WALK ($) +657 2,197 +0.15 1.50 +0.40 +182 (2) (27) 1.00 +0.05 1,387 (0.10) Q3 2025 Legacy, pro forma, FX impact Cranes Divestiture Specialty Vehicles Q3 2026 GAAP EPS Restructuring and Deal related Purcha
Slide 15: Backlog trend by segment
Backlog trend by segment 7,826 7,771 7,686 7,819 7,763 7,533 7,510 7,561 7,272 7,122 7,091 7,121 7,009 1,138 1,151 1,256 1,216 6,922 6,914 951 1,181 6,701 6,657 943 1,127 1,329 6,268 6,397 992 1,224 1,146 6,207 955 1,002 1,055 1,122 729 653 1,160 1,072 1,190 1,105 1,015 804 1,215 1,152 838 1,141 389
Slide 16: Q3 sales by geography
Q3 sales by geography North America Western Europe Asia-Pacific Rest of World ACTUAL LEGACY* ACTUAL FX-Adjusted Actual FX-Adj. Actual FX-Adj. ▲ 81% ▲ 16% ▼ (3%) ▼ (3%) ▲ 4% ▲ 4% ▲ 1% ▲ 1% *Legacy excludes REV 3% 5% 6% 9% 9% 14% Q3 2026 Q3 2025 72% 82% North America Western Europe Asia / Pacific Rest
Slide 17: Glossary
Glossary In an effort to provide investors with additional information regarding the Company’s results, Terex refers to various GAAP (U.S. generally accepted accounting principles) and non-GAAP financial measures which management believes provides useful information to investors. These non-GAAP meas
Slide 18: GAAP to Non-GAAP Reconciliation: Q3 2026
GAAP to Non-GAAP Reconciliation: Q3 2026 Purchase Q3 2026 Q3 2026 Restructuring Price Adjusted (non- GAAP and Other Deal related Accounting Divestitures GAAP) Net Sales $2,197 — — — — $2,197 Gross Profit 435 — — 5 — 440 % of Sales 19.8% 20.0% SG&A (199) (15) 9 2 23 (180) Amortization of Purchased In
Slide 19: GAAP to Non-GAAP Reconciliation: Q3 2025
GAAP to Non-GAAP Reconciliation: Q3 2025 Purchase Q3 2025 Q3 2025 Restructuring Deal Price Equity Security Adjusted (non- GAAP and Other Related Accounting Related Tax GAAP) Net Sales $1,387 — — — — — $1,387 Gross Profit 299 3 — 3 — — 305 % of Sales 21.6% 22.0% SG&A (142) 2 3 — — — (137) Amortizatio
Slide 20: Segment Operating Profit and Adjusted Operating Profit: Q3 2026 and 2025
Segment Operating Profit and Adjusted Operating Profit: Q3 2026 and 2025 Three Months Ended September 30, 2026 2025 ES MP1 SV1 Aerials ES MP Aerials Operating Profit $ 52 $ 75 $ 43 $ 54 $ 58 $ 52 $ 45 Restructuring and Other (16) — — 1 1 (1) 5 Purchase Price Accounting 20 — 37 — 20 — — Divestitures
Slide 21: Free Cash Flow
Free Cash Flow The Company calculates a non-GAAP measure of free cash flow that is defined as Net cash provided by operating activities less Capital expenditures, net of proceeds from sale of capital assets. The Company believes this measure provides management and investors further useful informati
Slide 22: EBITDA
EBITDA EBITDA is defined as earnings, before interest, other non-operating income (loss), income (loss) attributable to non-controlling interest, taxes, depreciation and amortization. The Company calculates this by subtracting the following items from Net income (loss): (Gain) loss on disposition of
Slide 23: EBITDA and Adjusted EBITDA: Q3 2026
EBITDA and Adjusted EBITDA: Q3 2026 Three Months Ended September 30, 2026 Corporate and ES MP3 SV3 Aerials Total Other / Elims Net income (loss)1 $ 52 $ 71 $ 39 $ 53 $ (101) $ 114 Provision for income taxes — — — — 21 21 Interest income — — — — (5) (5) Interest expense — 4 4 — 41 49 Other expense -
Slide 24: EBITDA and Adjusted EBITDA: Q3 2025
EBITDA and Adjusted EBITDA: Q3 2025 Three Months Ended September 30, 2025 Corporate and ES MP2 Aerials Total Other / Elims Net income (loss)1 $ 58 $ 48 $ 44 $ (85) $ 65 Provision for income taxes — — — 29 29 Interest income — — — (3) (3) Interest expense — 4 — 41 45 Other expense - net — — 1 3 4 Ope