Terex raises 2026 outlook and adds $500 million buyback

The company is now actively engaging several strategic counterparties on the planned separation of its Aerials business.

Terex reported third-quarter earnings per share of $1.50, $0.06 better than expected. Revenue came in at $2.20 billion, against $2.19 billion expected. The company also raised its outlook for 2026 and approved a new $500 million share repurchase program, which allows it to buy back its own shares.

For the full year, Terex expects net sales of $8.0 billion to $8.2 billion. It expects adjusted EBITDA, a measure of operating profit before interest, tax, depreciation and amortization, of $930 million to $960 million. It expects adjusted diluted earnings per share of $4.80 to $5.00, and free cash flow, the cash left after capital spending, of $360 million to $400 million.

Simon Meester, President and CEO, said Terex has moved from evaluating inbound interest to active engagement with multiple strategic counterparties in the process of separating its Aerials business.

The raised outlook matters more than the quarterly beat. It resets the company's guidance on sales, EBITDA, earnings per share and free cash flow at once. The new buyback is a second signal about how Terex plans to use its cash. The larger open question is Aerials. With several strategic counterparties now engaged, the outcome of that process will shape what the company does next with its capital.