Transaction expected to close in the first week of February 2026 NORWALK, Conn. and BROOKFIELD, Wis., Jan. 28, 2026 /PRNewswire/ -- Terex Corporation (NYSE: TEX) ("Terex") and REV Group, Inc. (NYSE: REVG) ("REV") today announced that they have each received the necessary stockholder approvals to complete the previously announced merger of Terex and REV at each company's Special Meeting of Stockholders held earlier today.Based on the results of the votes at each of the Terex and REV Special Meetings, the co ...

Financial Data and Key Metrics Changes - The company reported a gross margin expansion of approximately 30 basis points in the first half of the year, with expectations for lower expansion in the second half, likely in the range of 5 to 15 basis points [16][18][42] - The company anticipates modest price increases across the market, with no significant elasticity impact observed from these price changes [12][48] Business Line Data and Key Metrics Changes - The company categorizes its business into three segments: consumable, usable, and edible (CUE) products, which continue to show strong mid-single-digit comparable sales growth [6][9] - Seasonal businesses, particularly big-ticket items like riding lawnmowers, performed well during the summer months, indicating strong consumer demand [7][8] - Core discretionary items, such as gun safes and recreational vehicles, experienced muted performance compared to the previous year [9] Market Data and Key Metrics Changes - The overall consumer health is described as resilient, with strong GDP and consumer spending supporting the company's performance [4] - The company has not faced significant inventory issues, maintaining inventory growth closely aligned with comparable sales growth [50] Company Strategy and Development Direction - The company is pursuing a "Life Out Here" strategy, focusing on initiatives such as the Allivet acquisition, direct sales, final mile delivery, and localization to drive growth [24][25][26][27] - The company plans to open 100 new stores and has acquired 18 Big Lots locations, viewing these as opportunities for retrofitting and expansion [32][34] Management's Comments on Operating Environment and Future Outlook - Management expects the consumer environment to remain stable into 2026, with no significant changes anticipated [44][46] - The company is confident in achieving its long-term growth targets, including a 3% to 5% comparable sales growth and operating margins of 10% to 10.5% [41][42] Other Important Information - The company has a strong focus on capital allocation, prioritizing investments in the core business while also committing to dividends and share buybacks [29][30] - The competitive landscape is expected to remain stable, with the company positioned to gain market share due to its scale and operational efficiencies [55] Q&A Session Summary Question: What are the expectations for the consumer environment in the second half of 2025? - Management expects the environment to remain the same [44][46] Question: What are the plans for pricing in the remainder of this year and into 2026? - The company is navigating tariffs and adjusting pricing accordingly, expecting similar competitive dynamics in 2026 [48] Question: What are the expectations for inventory growth in the second half? - Inventory growth is expected to continue aligning with comparable sales growth, with no significant disruptions anticipated [50] Question: What are the expectations for non-tariff margin drivers into 2026? - Freight and wages are expected to remain stable, while commodity pricing may see modest increases [52] Question: How will market share consolidation trend in 2026? - Management believes consolidation will remain about the same, with the company well-positioned to gain share [53][55]