WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Thursday reported fourth-quarter net income of $24.5 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 profit of 34 cents. Earnings, adjusted for one-time gains and costs, were 36 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The machinery products maker posted revenue of $885 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $894.7 million.
For the year, the company reported profit of $54.4 million, or 76 cents per share. Revenue was reported as $4.35 billion.
Terex expects full-year earnings to be $1.85 to $2.35 per share.
Terex shares have declined almost 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.83, a fall of 17% in the last 12 months.