WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Tuesday reported first-quarter net income of $50.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Westport, Connecticut-based company said it had net income of 62 cents. Earnings, adjusted for one-time gains and costs, came to 55 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The machinery products maker posted revenue of $1.26 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $1.12 billion.
Terex expects full-year earnings to be $2.70 to $3 per share.
Terex shares have decreased 25 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.23, a climb of 3 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TEX at https://www.zacks.com/ap/TEX