WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Tuesday reported a first-quarter loss of $66.6 million, after reporting a profit in the same period a year earlier.
The Westport, Connecticut-based company said it had a loss of 93 cents per share. Earnings, adjusted to account for discontinued operations and pretax expenses, were 87 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The machinery products maker posted revenue of $1.14 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.12 billion.
Terex expects full-year earnings in the range of $3.60 to $4.20 per share, with revenue expected to be $4.7 billion.
Terex shares have climbed 21% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.38, a drop of almost 9% in the last 12 months.
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