Terex reports 58% third quarter revenue growth

Terex reported third-quarter 2026 revenue of $2.2 billion, up 58.4% year on year, with sales increasing by 11.6% on a comparable basis, mainly driven by its merger with the REV Group, which completed in February, and growth in the North American market.

Group net income rose to $114 million from $65 million in the same period last year, while adjusted EBITDA reached $286 million, representing a margin of 13%.

The company’s Aerials segment, which includes Genie, reported a 32% increase in sales to $709 million, driven by strong demand from national customers and increased spending on large projects.

Adjusted EBITDA for the segment increased to $62 million, compared with $56 million a year earlier. However, its adjusted EBITDA margin declined from 10.5% to 8.7%.

Terex said the change was due to higher sales and cost reduction measures that were partially offset by an unfavourable customer mix, inflation and tariff pressures.

Meanwhile, Terex’s Materials Processing segment reported sales of $434 million, up 4.1% year on year. Growth was driven by increased shipments across most product categories, particularly aggregates equipment in North America.

Adjusted EBITDA for Materials Processing increased to $84 million from $56 million a year earlier, with its margin rising from 13.5% to 19.3%. Terex also attributed the improvement to higher shipment volumes, along with a favourable product mix, pricing and cost controls, and improved production efficiency.

Progress of Genie seperation 

Commenting on the separation of the Aerials business, following the announcement that Genie is up for sale, Terex’s president and CEO Simon Meester said, “Over the past few months we have made good progress in the process of separating the Aerials segment, by advancing the carve-out work and moving from evaluating inbound interest to active engagement with multiple strategic counterparties.

Genie adds to pick-and-carry telehandler family with the GTH-1544. (Image: Genie).

“At the same time, the Aerials team remains focused on serving customers, growing the business and improving performance. Our priority is to achieve a successful outcome that maximises value for Terex shareholders.”

Meester did not mention the progress of Genie’s sale or a potential buyer.

Commenting on the group results, Meester added, “Terex delivered higher sales, adjusted EBITDA and cash flow in the third quarter versus the prior year, with solid order activity increasing across all four segments, resulting in $7 billion backlog that provides meaningful forward visibility across the portfolio.”

Looking ahead, Terex expects full-year group revenue to grow by approximately 8.5% on a comparable basis to between $8 billion and $8.2 billion, while adjusted EBITDA is forecast to increase by around 10% to between $930 million and $960 million.