Excluding the impact of currency exchange rates, said the company, net sales fell by 1%, or $17.4m. The company’s Cranes segment, excluding the impact of currency, was up 9% year-on-year, said Kevin Bradley, chief financial officer at Terex, according to a transcript at Seeking Alpha. "This is driven by growth in our crane products in Europe and a small acquisition in our utilities business," added Bradley.

Income from continuing operations were down $13.9m to $44.8m.

Ron DeFeo, chief executive officer at Terex, said during the company’s conference call: "We’ve had a rough year in North America in our Crane business. The crane markets are down somewhere between 20% to 40%, depending upon the product category. That’s not going to happen again. It’ll bottom out, our crane customers are actually quite healthy in general and I think their attitude will be positive going into 2016. But that that might take a little bit longer to be reflected in our business.

"Our marketplace remains challenging. We had another good performance in our Aerial Work Platforms (AWP) business which delivered year-over-year improvement in profitability in the third quarter as increased productivity and lower material cost more than offset lower sales, mainly in the North American telehandler product category.

"The Materials Processing (MP) business also had a solid quarter, expanding operating margins on relatively flat sales. The Cranes and Construction businesses continue to experience relatively soft market conditions overall, with customers remaining cautious with their equipment purchasing patterns. The Material Handling and Port Solutions (MHPS) business saw declines driven by a decrease in port automation sales.

"As mentioned last quarter, we are seeing pricing pressure in the marketplace, which to date we have been able to mostly offset by reductions in material input costs. We continue to execute very well against the cost saving initiatives that we have previously communicated. We also continue to make progress towards the completion of the merger with Konecranes Plc, which when combined with the improvements already underway creates a compelling financial improvement story in an otherwise flat market."

"Given where we are in the year and the challenging environment we are operating in, we believe we will be at or near the low end of our previously announced earnings guidance for the full year 2015."