28.10.2026

Good third Qtr for Genie

Terex has published its third quarter results, with the Genie business reporting a sharp jump in sales and a slightly higher quarterly profit.

Genie

YTD
Revenues for the nine months to the end of September increased 16.5% to $1.85 billion.
Operating profit for the period plummeted 24% to $100 million due to the “higher sales and cost-out actions, partially offset by unfavourable customer mix, inflationary and tariff pressures.”

Third Quarter
Revenues in the third quarter jumped 32% to $709 million, while order intake for the quarter was $646 million, up 20% on last year, leaving the order book/backlog at the end of September at $852 million, compared to just $397 million a year ago.
Operating profit for the quarter improved almost 11% to $62 million, “primarily due to higher shipments, with strong demand from national customers and increased customer capital spending on large projects.”

Terex Group YTD
Terex as a whole saw revenues leap just over 50% for the nine months to $6.17 billion, while pre-tax profits slumped a further 30% to $147 million.

Full year forecasts: Terex has tweaked its full year group revenues forecast to $8.0 – 8.2 billion, with Genie expected to have full year revenues of around $2.3 billion – or a low double-digit increase.

Chief executive Simon Meester said: "Terex delivered higher sales, adjusted EBITDA and cash flow in the third quarter, with solid order activity across all four segments, resulting in a $7 billion backlog.”

“We are also making progress integrating the expanded company, capturing synergies, and applying more consistent operating discipline to improve execution and returns.”

"Over the past few months, we have made good progress in the process of separating the Aerials segment by advancing the carve-out work and moving from evaluating inbound interest to active engagement with multiple strategic counterparties. At the same time, the Aerials team remains focused on serving customers, growing the business and improving performance. Our priority is to achieve a successful outcome that maximises value for Terex shareholders."

Vertikal Comment

This is a good third quarter for Genie, which also goes into the final quarter with a strong backlog, which should boost the full year’s revenues and bottom line. There are though no real clues on how well the sale of the business is going, apart from ‘it is talking to several prospective buyers.’

Given the current upward trend it would not surprise us to see an announcement of some sort before year end.

Watch this space.