Why Terex (TEX) Stock Is Down Today

NEW YORK (TheStreet) -- Terex (TEX) was falling -6.6% to $37.80 Thursday after missing analysts' estimates for earnings and revenue in the second quarter.

For the second quarter Terex reported earnings of 76 cents a share, missing the Capital IQ Consensus Estimate of 81 cents a share by 5 cents. Revenue grew 10.2% year-over-year to $2.05 billion in the quarter. Analysts expected revenue of $1.96 billion for the quarter.

"Our results for the second quarter and first six months of the year were mixed both from a business and geographical perspective," Terex chairman and CEO Ron DeFeo said in a press release. "Our Aerial Work Platforms (AWP) segment had a strong quarter but margins were slightly lower than a year ago due to product mix and planned investments in new product development and manufacturing footprint. We expect this dynamic to continue through the remainder of the year, although on increasing sales versus the prior year."

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TEX ChartTEX data by YCharts

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