Terex Corp. posted $1.487 billion in revenue in the second quarter of 2025, compared to $1.382 billion in the second quarter of 2024, a 7.6-percent increase. However, the boost was not in the Genie Aerial segment or its Material Processing segment, the portions of the company best known in the rental industry, but rather in its recently acquired Environmental Solutions division. 

Sales in the aerial division totaled $607 million compared to $732 million in the second quarter a year ago, a 17.1 percent decline. For the first six months of 2025, sales in the aerial segment totaled $1.057 billion, compared to $1.355 billion in the first six months of 2024, a 22-percent drop. Rental companies in general deployed less capex, focusing primarily on replacement requirements.

Terex’s Materials Processing segment reached $454 million in net sales, compared to $499 in the second quarter of last year, a 9-percent decrease. The decline was in line with expectations, primarily because of lower channel requirements and end-market demand across most product lines and geographies. For the first six months of the year, net sales totaled $836 million, compared to $1,019 million a year ago, an 18-percent decrease.

Newly acquired ESG leads the charge
The Environmental Solutions Group posted $430 million compared to $152 million in the second quarter a year ago, and for the first six months of the year $829 million compared to $303 million a year ago. The increase was 12.9 percent on a pro forma basis, driven by strong throughput and delivery of refuse collection vehicles and strong book-to-bill installs in Terex Utilities.

"Our overall financial performance demonstrates the power of the evolving Terex portfolio,” said Simon Meester, Terex president and CEO. “Our Environmental Solutions segment exceeded our outlook for the second quarter with strong sales and margin performance in Environmental Solutions Group and Terex Utilities, more than offsetting industry-wide headwinds in Aerials where independent rental customers deployed less capex than anticipated. Materials Processing achieved sequential growth and margin improvement in line with our expectations. The addition of ESG and on-going implementation of our strategy will continue to make Terex a more resilient and predictable performer, well-positioned to navigate through this dynamic environment."

For the first six months of the year, net sales totaled $2.716 billion compared to $2.674 billion for the first six months of 2024, a 1.6-percent rise.

"I was pleased with our strong cash flow generation in the second quarter, achieving 108-percent cash conversion, which supported continued execution of our balanced capital allocation strategy, returning value to shareholders while continuing to invest for longer-term organic growth," said Jennifer Kong-Picarello, senior vice president and chief financial officer. "Looking ahead, bookings across the company have returned to normal seasonal patterns, and the year-over-year pro forma growth of 19 percent and healthy backlog supports our second half sales outlook. As a global company with a significant footprint in the United States and around the world, we have optionality to adapt to various tariff scenarios. That said, significant tariff rate increases could have a transitory impact on operating margins until mitigation actions are fully deployed. Assuming that tariffs broadly remain at current rates, we maintain our full year EPS outlook of $4.70 to $5.10."