Terex Q1 Earnings & Revenues Beat Estimates, Decline Y/Y on Low Volumes

Terex Corporation (TEX) reported adjusted earnings per share of 83 cents, which beat the Zacks Consensus Estimate of 49 cents. The bottom line, however, plunged 52% from the prior-year quarter’s adjusted figure of $1.74 per share. This downfall in earnings was attributed to lower sales volume, Terex’s production adjustment efforts in the wake of weak demand and unfavorable mix in the Materials Processing segment. This was somewhat offset by gains from the company’s cost control initiatives and contribution ...