WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Thursday reported a second-quarter loss of $9.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Westport, Connecticut-based company said it had a loss of 13 cents. Losses, adjusted to account for discontinued operations, were 5 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 56 cents per share.
The machinery products maker posted revenue of $690.5 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $629.8 million.
Terex shares have declined 34% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.60, a decrease of 39% in the last 12 months.