WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Tuesday reported a fourth-quarter loss of $267.2 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 $2.52. Earnings, adjusted for one-time gains and costs, came to 7 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The machinery products maker posted revenue of $974.7 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $918.7 million.
For the year, the company reported a loss of $176.1 million, or $1.63 per share, swinging to a loss in the period. Revenue was reported as $4.44 billion.
Terex expects full-year earnings in the range of 60 cents to 80 cents per share.
Terex shares have risen roughly 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $32.13, an increase of 45 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
Keywords: Terex, Earnings Report