WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Tuesday reported a loss of $26.7 million in its fourth quarter.
The Westport, Connecticut-based company said it had a loss of 31 cents per share. Earnings, adjusted for one-time gains and costs, came to 33 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The machinery products maker posted revenue of $1.06 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $999.2 million.
For the year, the company reported net income of $128.7 million, or $1.36 per share, swinging to a profit in the period. Revenue was reported as $4.36 billion.
Terex shares have decreased 11 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $43, an increase of 33 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