Shares of industrial equipment maker Terex Corporation (TEX) plunged over 5% on Thursday in the intraday trading session, as investors reacted to the company's mixed fourth quarter 2024 results and forward guidance.

For the fourth quarter ended December 31, 2024, Terex reported adjusted earnings of $0.77 per diluted share, narrowly missing analysts' average estimate of $0.76 per share. However, the company's net sales of $1.24 billion for the quarter exceeded Wall Street's expectations of $1.23 billion.

The earnings miss appears to have weighed on investor sentiment, despite Terex's better-than-expected top-line performance. The company's Materials Processing and Aerial Work Platforms segments faced challenges during the quarter, with lower sales volume and unfavorable product mix impacting profitability.

Looking ahead, Terex provided an upbeat outlook for fiscal 2025, projecting adjusted earnings per share (EPS) in the range of $4.70 to $5.10 on net sales between $5.3 billion and $5.5 billion. This guidance surpassed analysts' expectations, with the midpoint of the EPS range exceeding the consensus estimate of $5.16.

The company's positive 2025 outlook, bolstered by the recent acquisition of the Environmental Solutions Group, appears to have partially offset the disappointment from the Q4 earnings miss. Terex expects its newly acquired business to contribute to growth and profitability in the upcoming year.