NORWALK, Conn. (AP) — NORWALK, Conn. (AP) — Terex Corp. (TEX) on Friday reported a loss of $89 million in its first quarter.
The Norwalk, Connecticut-based company said it had a loss of 93 cents per share. Earnings, adjusted for one-time gains and costs, were 98 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The machinery products maker posted revenue of $1.73 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.7 billion.
Terex expects full-year earnings in the range of $4.50 to $5 per share, with revenue in the range of $7.5 billion to $8.1 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TEX at https://www.zacks.com/ap/TEX
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