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Terex beats Street 3Q forecasts

WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Tuesday reported third-quarter earnings of $59.2 million.

On a per-share basis, the Westport, Connecticut-based company said it had net income of 66 cents. Earnings, adjusted for one-time gains and costs, were 50 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The machinery products maker posted revenue of $1.11 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $1.03 billion.

Terex expects full-year earnings in the range of $1.20 to $1.30 per share.

Terex shares have climbed 49 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $47.05, a rise of 97 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