$TEX

TEREX CORP

CIK:0000097216|SEC Filings

CONDENSED CONSOLIDATED STATEMENT OF OPERATINGS AND COMPREHENSIVE (LOSS) INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 2,238	$ 1,487	$ 3,972	$ 2,716
Cost of goods sold	(1,794)	(1,179)	(3,321)	(2,160)
Gross profit	444	308	651	556
Selling, general and administrative expenses	(209)	(162)	(451)	(323)
Amortization of purchased intangibles	(48)	(17)	(95)	(35)
Operating profit	187	129	105	198
Other income (expense)
Interest income	5	2	9	4
Interest expense	(50)	(44)	(97)	(87)
Other (expense) income – net	(3)	2	(4)	0
Income before income taxes	139	89	13	115
(Provision for) benefit from income taxes	(29)	(17)	4	(22)
Income from continuing operations	110	72	17	93
Income from discontinued operations – net of tax	0	0	4	0
Net income	$ 110	$ 72	$ 21	$ 93
Basic earnings per share
(Loss)income from continuing operations (in dollars per share)	$ 0.97	$ 1.10	$ 0.16	$ 1.41
Income from discontinued operations – net of tax	0	0	0.04	0
Net (loss) Income (in dollars per share)	0.97	1.10	0.20	1.41
Diluted earnings per share:
(Loss) income from continuing operations (in dollars per share)	0.96	1.09	0.16	1.40
Income from discontinued operations – net of tax	0	0	0.04	0
Net (loss) income (in dollars per share)	$ 0.96	$ 1.09	$ 0.20	$ 1.40
Weighted average number of shares outstanding in per share calculation
Basic (in shares)	113.6	65.6	104.5	66.0
Diluted (in shares)	114.2	65.9	105.4	66.5
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 110	$ 72	$ 21	$ 93
Other comprehensive income (loss)	0	74	(12)	106
Comprehensive income	$ 110	$ 146	$ 9	$ 199

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income	$ 21	$ 93
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	163	79
Deferred taxes	(39)	(9)
Stock-based compensation expense	51	18
Inventory and other non-cash charges	95	9
Changes in operating assets and liabilities (net of effects of acquisitions and divestitures):
Receivables	(264)	(236)
Inventories	(42)	(59)
Trade accounts payable	157	184
Other assets and liabilities	(46)	0
Foreign exchange and other operating activities, net	1	2
Net cash provided by operating activities	97	81
Investing Activities
Capital expenditures	(59)	(60)
Acquisitions, net of cash acquired, and investments	(467)	0
Other investing activities, net	38	22
Net cash used in investing activities	(488)	(38)
Financing Activities
Repayments of debt	(168)	(84)
Proceeds from issuance of debt	270	87
Share repurchases	(3)	(55)
Dividends paid	(39)	(22)
Other financing activities, net	(30)	(10)
Net cash provided by (used in) financing activities	30	(84)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(4)	27
Net Decrease in Cash and Cash Equivalents	(365)	(14)
Cash and Cash Equivalents at Beginning of Period	772	388
Cash and Cash Equivalents at End of Period	$ 407	$ 374

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 407	$ 772
Receivables (net of allowance of $10 and $9 at June 30, 2026 and December 31, 2025, respectively)	1,157	712
Inventories	1,656	1,109
Prepaid and other current assets	156	132
Total current assets	3,376	2,725
Non-current assets
Property, plant and equipment – net	966	760
Goodwill	2,558	1,091
Intangible assets – net	2,906	1,027
Long-term deferred tax asset	157	207
Other assets	381	329
Total assets	10,344	6,139
Current liabilities
Current portion of long-term debt	4	6
Trade accounts payable	1,022	683
Accrued compensation and benefits	165	123
Short-term customer advances	242	44
Other current liabilities	424	331
Total current liabilities	1,857	1,187
Non-current liabilities
Long-term debt, less current portion	2,683	2,578
Long-term customer advances	187	20
Long-term deferred tax liabilities	396	8
Other non-current liabilities	296	251
Total liabilities	5,419	4,044
Commitments and contingencies
Stockholders’ equity
Common stock, $0.01 par value – authorized 300.0 shares; issued 134.4 and 85.5 shares at June 30, 2026 and December 31, 2025, respectively	1	1
Additional paid-in capital	3,817	942
Retained earnings	2,121	2,139
Accumulated other comprehensive loss	(277)	(265)
Shares of common stock in treasury – 20.8 and 20.6 shares at June 30, 2026 and December 31, 2025	(737)	(722)
Total stockholders’ equity	4,925	2,095
Total liabilities and stockholders’ equity	$ 10,344	$ 6,139