Shares of Terex Corporation TEX have fallen 3% since reporting a first–quarter 2016 adjusted loss of 5 cents per share on Apr 26. Quarterly loss was wider than the Zacks Consensus Estimate of a loss of 2 cents per share. Weak markets led to losses at the Cranes and Material Handling & Port Solutions (MHPS) segments, which offset year-over-year improvement in Aerial Works Platforms (AWP), Materials Processing (MP) and Construction segments.Including one-time items, such as merger related expense of 8 cents per share and restructuring expenses of 55 cents per share, Terex suffered a loss of 68 cents per share in the quarter, faring worse than the loss per share of 2 cents in the year-ago quarter.Operational UpdateRevenues in the quarter declined 5% year over year to $1.43 billion from $1.5 billion in the prior-year quarter. Revenues however beat the Zacks Consensus Estimate of $1.31 billion by a wide margin.Cost of goods sold decreased 1.3% to $1.2 billion from $1.22 billion in the year-earlier quarter. Gross profit declined 19% year over year to $224 million. Gross margin contracted 280 basis points to 15.7%.Selling, general and administrative expenses increased 14% year over year to $265 million. Terex reported an operating loss of $42 million as against an operating income of $44 million in the year-ago quarter.Segment PerformanceThe Aerial Work Platforms (AWP) segment posted revenues of $521 million in the quarter, up 1% from $518 million in the prior-year quarter. Operating income decreased 15% to $38 million from $45 million in the prior-year quarter.The Construction segment’s revenues were $143 million, up 17% year over year. The segment reported an operating profit of $1 million, as against an operating loss of $4 million in the prior-year quarter.Revenues from the Crane segment fell 13% to $307 million from $353 million in the year-ago quarter. The segment’s operating loss of $17 million was in stark contrast to an operating profit of $2.4 million in the prior-year quarter.In the Material Handling & Port Solutions (MHPS) segment, revenues went down 8% year over year to $318 million. The segment incurred a loss of $61.8 million compared with a loss of $4.4 million in the year-ago quarter.The Material Processing (MP) segment’s revenues were $177 million, down 2% year over year. The segment reported an operating income of $10 million, up 9% year over year.Financial PositionAt the end of the first quarter of 2016, Terex had cash and cash equivalents of $323.6 million compared with $466.5 million at 2015 end. The company used $129.2 million of cash from operating activities in the quarter compared with a usage of $110.7 million in the prior-year quarter. Long-term debt was $1.7 billion as of Mar 31, 2016, compared with $1.73 billion as of Dec 31, 2015.BacklogBacklog of orders to be filled during the next 12 months was around $1.7 billion as of Dec 31, 2015, down 17% sequentially and 13% year over year.2016 GuidanceTerex reiterated its 2016 earnings per share guidance between $1.30 and $1.60, excluding restructuring and other unusual items, and net sales at about 10% lower than the 2015 level.Terex noted that its customers have cut down on capital spending in the wake of the challenging global environment. Most of AWP North American rental customers are cautious about their capital requirements, managing time utilization of their fleet and rental rates. Further, the slump in oil and gas and mining continues to constrain global demand for many of its products, particularly Cranes. Meanwhile, the company remains focused on developing and implementing plans to simplify its cost structure to drive growth.Terex currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industrial products sector include Astec industries Inc. ASTE, Global Brass and Copper Holdings, Inc. BRSS and Ball Corporation BLL. All three stocks hold a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BALL CORP (BLL): Free Stock Analysis Report TEREX CORP (TEX): Free Stock Analysis Report ASTEC INDS INC (ASTE): Free Stock Analysis Report GLOBAL B&C HLD (BRSS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research