Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at Terex (NYSE: TEX) and its peers.

Automation that increases efficiencies and connected equipment that collects analyzable data have been trending, creating new demand for heavy machinery and equipment companies. The gradual transition to clean energy also allows companies to innovate around emissions, potentially spurring replacement cycles that can accelerate revenue growth. On the other hand, heavy machinery companies are at the whim of economic cycles. Interest rates, for example, can greatly impact the commercial and residential construction that drives demand for these companies’ offerings.

The 20 heavy machinery stocks we track reported a satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 1.7% while next quarter’s revenue guidance was 1.2% above.

While some heavy machinery stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.9% since the latest earnings results.

Terex (NYSE: TEX)

With humble beginnings as a dump truck company, Terex (NYSE: TEX) today manufactures lifting and material handling equipment designed to move and hoist heavy goods and materials.

Terex reported revenues of $2.24 billion, up 50.5% year on year. This print exceeded analysts’ expectations by 4%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EBITDA and EPS estimates.

"Terex delivered a strong second quarter, with revenue growth in all segments, improved profitability, and positive booking trends that reflect healthy demand across much of the portfolio," said Simon Meester, Terex President and Chief Executive Officer.

Interestingly, the stock is up 3% since reporting and currently trades at $66.49.

Is now the time to buy Terex? Access our full analysis of the earnings results here, it’s free.

Best Q2: Caterpillar (NYSE: CAT)

With its iconic yellow machinery working on construction sites, Caterpillar (NYSE: CAT) manufactures construction equipment like bulldozers, excavators, and parts and maintenance services.

Caterpillar reported revenues of $20.54 billion, up 24% year on year, outperforming analysts’ expectations by 8.4%. The business had an incredible quarter with a beat of analysts’ EPS estimates.

However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $827.10.

Is now the time to buy Caterpillar? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: AGCO (NYSE: AGCO)

With a history that features both organic growth and acquisitions, AGCO (NYSE: AGCO) designs, manufactures, and sells agricultural machinery and related technology.

AGCO reported revenues of $2.61 billion, flat year on year, falling short of analysts’ expectations by 4.9%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations and a significant miss of analysts’ EPS estimates.

AGCO delivered the weakest full-year guidance update in the group. As expected, the stock is down 8% since the results and currently trades at $106.91.

Read our full analysis of AGCO’s results here.

Greenbrier (NYSE: GBX)

Having designed the industry’s first double-decker railcar in the 1980s, Greenbrier (NYSE: GBX) supplies the freight rail transportation industry with railcars and related services.

Greenbrier reported revenues of $576.5 million, down 31.6% year on year. This print came in 5.9% below analysts’ expectations. Overall, it was a disappointing quarter as it also logged full-year revenue and EPS guidance missing analysts’ expectations.

Greenbrier had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 3.8% since reporting and currently trades at $46.05.

Read our full, actionable report on Greenbrier here, it’s free.

Blue Bird (NASDAQ: BLBD)

With around a century of experience, Blue Bird (NASDAQ: BLBD) is a manufacturer of school buses and complementary parts.

Blue Bird reported revenues of $517.2 million, up 29.9% year on year. This number topped analysts’ expectations by 3.8%. Overall, it was a strong quarter as it also logged a solid beat of analysts’ EBITDA estimates and full-year EBITDA guidance meeting analysts’ expectations.

The stock is down 18.8% since reporting and currently trades at $62.45.

Read our full, actionable report on Blue Bird here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.