Terex Q2 Profit Down, Cuts Outlook

(RTTNews) - Terex Corporation (TEX) Wednesday reported second-quarter net income of $84.8 million or $0.78 per share, down from $139.8 million or $1.21 per share last year.

Net sales for the quarter dropped to $1.83 billion from $2.06 billion last year.

Analysts polled by Thomson Reuters expected earnings of $0.73 per share on revenues of 1.80 billion for the quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the the company now expects adjusted earnings of $1.90 to $2.10 per share and sales of $6.1 billion to $6.4 billion. Analysts currently estimate earnings of $2.01 per share on revenues of $6.55 billion for the year.

Earlier, the company expected adjusted earnings of between $2.00 and $2.30 per share on net sales of between $6.2 billion and $6.6 billion.