01:39 PM EDT, 09/19/2024 (MT Newswires) -- Terex ( TEX ) shares fell 3.1% in recent trading Thursday after the company cut 2024 guidance for adjusted earnings to $5.80 to $6.20 a share on revenue of $4.85 billion to $5.05 billion.

On July 30, the company projected 2024 adjusted EPS of $7.15 to $7.45 on net sales of $5.1 billion to $5.3 billion.

""Our channels globally made adjustments faster than we anticipated, resulting in lower than expected sales volume," Chief Executive Officer Simon Meester said Thursday in a statement.

The company said the latest outlook excludes the benefit of the recently announced acquisition of Environmental Solutions Group, which is expected to close in Q4.

Price: 54.14, Change: -1.71, Percent Change: -3.06