Terex posted $1.734 billion in first quarter 2026 net sales, compared to $1.229 billion in first quarter 2025 net sales, a massive 41.1-percent increase.
Breaking it down by segment, the aerial sector reported net sales of $469 million, a 4.2-percent or $19 million year over year increase, primarily because of positive effects of foreign exchange rates. EBITDA and adjusted EBITDA were break even, or 0.1 percent of net sales, for the first quarter, compared to EBITDA of $8 million or 1.8 percent of net sales and adjusted EBITDA of $20 million a year ago, or 4.4 percent of net sales. The change in adjusted EBITDA was primarily the result of tariffs, which the business did not incur this time last year. The business also faced some temporary unfavorable mix mix and timing of price realization.
The Environmental Solutions division posted net sales of $412 million, a 3.3-percent year-over-year increase, driven by strong throughput and delivery of utilities products, partially offset by lower shipments of refuse collection vehicles. EBITDA was $73 million or 17.7 percent of net sales, compared to $80 million, or 20.1 percent of net sales in the previous year. Adjusted EBITDA was $74 million or 18 percent of net sales for the first quarter of 2026, compared to $81 million, or 20.3 percent of net sales a year ago. Unfavorable product mix was partially offset by higher sales volume and synergy realization.
The Materials Processing division enjoyed a 9.7 percent or $37 million increase, year over year, fueled by higher shipment volumes across most product lines and geographies and positive effects of foreign exchange rates. On a pro forma basis, net sales jumped 18.3 percent year over year, driven by growth in Aggregates, Material Handling and Recycling, partially offset by lower concrete equipment sales. EBITDA was $68 million or 16.2 percent of net sales, compared to $41 million or 10.8 percent of net sales a year ago. Adjusted EBITDA was $63 million or 15 percent of net sales for the first quarter of 2026, compared to $43 million or 11.2 percent of net sales in the previous year. The improvement was the result of higher sales volume, price realization and efficiency improvement.
Strong debut for Specialty Vehicles
The recently acquired REV Group, now the Specialty Vehicles segment, had net sales of $436 million on a pro forma basis, a 20 percent increase, driven by growth in all product lines.
“We are off to a good start and executing to plan, including the first 58 days with REV Group in our portfolio, now operating as our Specialty Vehicles segment, which made a meaningful contribution in the quarter, said Simon Meester, Terex president and CEO. “Our quarter-end backlog of $71 billion, supported by strong booking trends in Materials Processing, Aerials and Terex Utilitues, provides solid forward visibility. As a result, we are reiterating our full-year outlool. We continue to execute our strategy, including the integration of REV. We remain on track to deliver approximately $28 million of synergies in 2026 through the elimination of duplicate overhead and to achieve the full $75 million run rate within our 24-month target.”
Jennifer Kong-Picarello, senior vice president and chief financial officer, said Terex’s first quarter financial results were consistent with the company’s expectations.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.