Terex (TEX) Q4 2025 Earnings Call Transcript

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Feb. 11, 2026, astatine 8:30 a.m. ET

• President and Chief Executive Officer — Simon Meester

• Senior Vice President and Chief Financial Officer — Jennifer Kong-Picarello

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Simon Meester: Thanks, Derek, and bully morning. I would similar to invited everyone to our net telephone and admit your involvement successful Terex Corporation. Last week, we concluded our merger with REV Group, the defining milestone successful Terex Corporation's transformation. With this combination, we've created a starring specialty instrumentality shaper with premium brands crossed aggregate industries. With a beardown manufacturing footprint, a starring exertion play, and wide tangible synergies crossed the portfolio. We'll statesman with our 2024 acquisition of ESG, which delivered worth immediately. It is present being amplified by bringing Terex Corporation and REV together, creating greater standard and an adjacent much resilient caller company.

REV generated astir $2.5 cardinal of gross and $230 cardinal of adjusted EBITDA successful its precocious completed fiscal year, with the bulk coming from indispensable debased cyclical extremity markets. Beyond strengthening the predictability of our increasing net and escaped currency flow, the merger besides reduces our wide superior intensity, giving america greater flexibility to make further shareholder value.

Simon Meester: I privation to convey some the Terex Corporation and REV teams for their tireless efforts to adjacent this transaction up of schedule. It's lone been a fewer days since closing, but the teams are already moving manus successful manus to execute our integration and synergy plans. We completed the ESG integration successful 2025 and captured synergies up of expectations. We're utilizing the aforesaid integration playbook for the merger with REV. The integration volition beryllium straightforward. REV businesses are joining Terex Corporation arsenic a standalone operating conception with nary organizational changes extracurricular our firm functions.

Our caller specialty conveyance conception volition see exigency vehicles, and volition proceed to beryllium led by Mike Vernick, and recreational vehicles, which volition proceed to beryllium led by Gary Gunther. Both Mike and Gary bring heavy REV experience, assuring continuity portion driving further improvements. We expect to present astir fractional of the $75 cardinal tally complaint synergies wrong the adjacent 12 months and the afloat magnitude by 2028. Most aboriginal savings volition travel from eliminating duplicate firm costs. But the synergy imaginable goes overmuch deeper. Over the past sixteen months, we person reshaped the Terex Corporation portfolio, creating what I judge is the astir intrinsically synergistic, resilient, and competitory portfolio successful our history.