Flat Genie sales in Q1 as strategic review continues

Terex’s aerial platform business Genie saw a 4.2% increase in first quarter sales to US$469 million, largely the result of favourable exchange rate changes.

Tariffs were the main cause of lower EBITDA profit in the quarter, which was breakeven or 0.1% of net sales, down from 1.8% of sales in the same quarter of 2025.

Terex said the strategic review of the aerials business, which could include a sale, was progressing as planned. Not in the review is the Terex Utilities business – digger derricks and insulated utility lifts – which is part of the Environmental Solutions segment.

The Genie S-85 XC FE self propelled boom. (Photo: Genie).

The backlog for the aerials business grew by $150 million from December 2025 to reach $1.05 billion, which is the highest level since June 2024. Backlog levels were around $2 billion between December 2021 and December 2023.

North American focus

The results, which incorporated 58 days of trading of the newly acquired REV Group waste management business, illustrate the extent to which Terex’s business is now dominated by North American sales, reaching 78% of revenues in the first quarter compared to 73% in the same period in 2025.

The company’s outlook for the full year is for revenues – including Genie – of $7.8-8.1 billion, with aerials representing just over a quarter of that. It said Genie sales were likely to be flat over the full year.

Simon Meester, Terex president and CEO, said; “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 (SV) segment, which made a meaningful contribution in the quarter.

“Our quarter-end backlog of $7.1 billion, supported by strong booking trends in Materials Processing, Aerials, and Terex Utilities, provides solid forward visibility. As a result, we are reiterating our full-year outlook.”