Terex Q4 Revenue Climbs 6.2% to $1.32 B; 2026 EBITDA Forecast Hits $965 M
Terex reported Q4 revenue of $1.32 billion, up 6.2% year-on-year and 0.8% above consensus forecasts, while GAAP EPS of $0.95 missed estimates by 4.6%. The company set 2026 revenue guidance at $7.8 billion midpoint, 40% above analyst consensus, and raised EBITDA outlook to $965 million.
1. Q4 CY2025 Financial Results
In Q4 CY2025, Terex generated revenue of $1.32 billion, up 6.2% year-on-year and 0.8% above forecasts, while GAAP EPS of $0.95 fell 4.6% short of analyst expectations. Adjusted EBITDA reached $175 million at a 13.3% margin, operating margin expanded to 10.4%, and free cash flow totaled $325 million, reflecting 147% cash conversion.
2. 2026 Financial Guidance
For fiscal year 2026, the company set revenue guidance at $7.8 billion at the midpoint, representing a 40% premium to consensus forecasts, and projected EBITDA of $965 million, well above the $700 million analysts anticipated. EPS guidance of $4.75 sits 14.3% below estimates, indicating a mixed outlook for profit per share.
3. Strategic and Operational Highlights
Operational efficiency improved in Q4, with free cash flow margin rising to 13% from 10.3% a year earlier and operating leverage enhancing profitability. Completion of the REV merger positions Terex to leverage expanded capabilities and potential cost synergies, supporting long-term growth initiatives.