Terex Corporation Q3 2025 Earnings Recap

Terex Corporation reported robust Q3 2025 earnings with an EPS of $1.50, while announcing a transformative merger with REV Group that aims to create a leading specialty equipment manufacturer.

Key Takeaways

• Q3 2025 sales reached $1.4 billion with a remarkable cash conversion rate of 200%.
• The merger will result in Terex shareholders owning 58% of the combined entity and includes a cash consideration of $425 million for REV shareholders.
• The combined company is expected to achieve at least $75 million in annual synergies while providing a mid-teens adjusted EBITDA profile by fiscal 2025.
• Terex plans to exit its Aerial segment, potentially through a sale or spin-off, reducing exposure to cyclical end markets.
• Upon closing in the first half of 2026, the combined company will maintain a strong balance sheet with approximately 2.5x leverage on a pro forma basis.