Terex tops 4Q profit forecasts

WESTPORT, Conn. (AP) _ Terex Corp. (TEX) on Tuesday reported fourth-quarter profit of $80 million.

The Westport, Connecticut-based company said it had profit of 71 cents per share. Earnings, adjusted for one-time gains and costs, were 72 cents per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The machinery products maker posted revenue of $1.79 billion in the period, which fell short of Street forecasts. Analysts expected $1.86 billion, according to Zacks.

For the year, the company reported profit of $319 million, or $2.79 per share. Revenue was reported as $7.31 billion.

Terex expects full-year earnings in the range of $2 to $2.30 per share, with revenue in the range of $6.2 billion to $6.6 billion.

Terex shares have declined roughly 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.44, a drop of 42 percent in the last 12 months.

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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 http://www.zacks.com/ap/TEX

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Keywords: Terex, Earnings Report

Source Article from http://finance.yahoo.com/news/terex-tops-4q-profit-forecasts-000649793.html

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