Terex Corp. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Terex Corp. (TEX) announced a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $88 million, or $1.31 per share. This compares with $119 million, or $1.75 per share, in last year's third quarter.

Excluding items, Terex Corp. reported adjusted earnings of $98 million or $1.46 per share for the period.

Analysts on average had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.0% to $1.212 billion from $1.290 billion last year.

Terex Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $88 Mln. vs. $119 Mln. last year. -EPS (Q3): $1.31 vs. $1.75 last year. -Revenue (Q3): $1.212 Bln vs. $1.290 Bln last year.

-Guidance: Full year EPS guidance: $5.85 - $6.25 Full year revenue guidance: $5.00 Bln-$5.2 Bln