公司计划加速售后市场转型，目标是将非新机销售（售后市场）收入从当前约6.5亿美元提升至10亿美 元，该业务毛利率达35%，显著高于传统业务。此外，曼尼托瓦克将持续推进产品创新（如2025年推出 11款新型起重机），并深化对收购企业（如H&E Crane和Aspen Equipment）的整合，以提升协同效应。 区域市场方面，欧洲塔式起重机业务受益于住宅和基建需求回暖，美国市场则受数据中心和电力基建增 长驱动。 未来发展 需关注关税对盈利的持续影响（2025年第四季度因此产生400万美元负作用），以及宏观经济不确定性 可能对需求造成的压力。管理层在业绩会议中强调，将通过精益运营和成本优化应对挑战。 以上内容基于公开资料整理，不构成投资建议。 来源：经济观察网 经济观察网 根据曼尼托瓦克（MTW）2025年第四季度财报（2026年2月10日发布），公司对2026年提 出明确指引：预计净销售额在22.5亿至23.5亿美元之间，调整后EBITDA目标为1.25亿至1.50亿美元，并 计划实现4000万至6500万美元的自由现金流，同时将净杠杆率控制在3倍以下。这一指引反映了公司对 市场需求和运营效率的预期。 战略推进 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2025 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-11978 The Manitowoc Company, Inc. (Exact name of registrant as specified in its charter) Wisconsin 39-0448110 (State or other ju ...

经济观察网马尼托沃克(MTW.us)2025财年业绩表现稳健，第四季度营业收入达6.77亿美元，环比增长 22.5%，全年营收22.41亿美元。未来值得关注的事件主要围绕其战略转型和技术布局。 近期受关注事件 混合动力技术推广：公司投资混合动力起重机技术，相关机型在欧洲和澳大利亚市场受青睐，但纯电动 机型因技术挑战尚未普及，未来技术突破或市场应用成焦点。 成本与债务优化：通过"马尼托瓦克之道"体系削减成本，目标将杠杆率从4倍降至3倍，债务结构优化进 程可能影响财务表现。 以上内容基于公开资料整理，不构成投资建议。 售后市场转型进展：公司计划将非新机销售(售后市场)收入从当前约6.5亿美元提升至10亿美元，该业务 毛利率达35%，后续可能通过收购或业务扩张实现目标。 区域市场复苏与需求驱动：欧洲塔式起重机业务因住宅和基建需求回暖改善；美国市场受益于数据中心 和电力基建增长；中东地区受沙特2030愿景项目推动，可能带来新订单或项目落地。 ...

Financial Data and Key Metrics Changes - The company reported net sales of $677 million for Q4 2025, a 14% increase year-over-year, supported by strong shipments in North America and Europe [14] - Adjusted EBITDA for the quarter was $40 million, up $5 million year-over-year, representing a margin of 5.8% [14] - For the full year, net sales reached $2.24 billion, with non-new machine sales at $690 million, a 10% increase year-over-year [14][15] - The company generated $78 million in free cash flow during Q4 and ended the year with a cash balance of $77 million [13][16] Business Line Data and Key Metrics Changes - Non-new machine sales grew to $690 million, reflecting progress on the CRANES+50 strategy, with a goal to reach $1 billion [15] - The company launched 11 new cranes in 2025, including the GRT 550 and MCR 815, expanding its product portfolio [5][6] Market Data and Key Metrics Changes - Orders in Q4 totaled $803 million, a 56% increase year-over-year, with a backlog of $794 million, up 22% from the previous year [9][13] - In Europe, new machine orders increased by 64% year-over-year, while mobile crane orders rose by 39% [10] - The Middle East market remains optimistic, although cash flow issues in Saudi Arabia are a concern [11] Company Strategy and Development Direction - The company aims to achieve a return on invested capital of 15% and continues to focus on expanding its non-new machine sales, which deliver higher gross margins [19] - A restructuring plan is in place to streamline operations, projected to save approximately $10 million in 2026 [16] - New distribution agreements and expansion into new markets, including Portugal, Mexico, and Chile, are part of the growth strategy [18] Management Comments on Operating Environment and Future Outlook - The management expressed optimism for 2026, expecting improved results driven by pricing strategies, European market growth, and continued non-new machine sales [16][18] - The American market is anticipated to rebound as interest rates trend down and the tariff environment stabilizes [18] Other Important Information - The company achieved a recordable injury rate (RIR) of 0.94, marking a significant improvement in safety performance [7] - Tariffs had a gross unfavorable impact of $39 million for the year, but the company managed to mitigate approximately 85% of these headwinds [15] Q&A Session Summary Question: 2026 outlook and regional sales growth - The tower crane business is expected to continue strong, particularly in Europe, while the U.S. market presents mixed signals due to tariffs [25] Question: Crane-space safety strategy for 2026 - The cadence for non-new machine sales is expected to remain stable, with some headwinds from tariffs affecting unit movement [26][27] Question: Orders in January - January orders were approximately $225 million, supported by a successful winter campaign for tower cranes [32] Question: Update on the Manitowoc Way and LEAN implementation - The company is focusing on improving operational efficiency and customer experience through LEAN practices and AI integration [33][34] Question: First quarter expectations - Q1 is expected to face headwinds from tariffs and foreign exchange impacts, leading to lower performance compared to other quarters [36]

The Manitowoc Company (NYSE:MTW) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsAaron Ravenscroft - President and CEOBrian Regan - EVP and CFOIon Warner - Senior Vice President of Marketing and Investor RelationsConference Call ParticipantsKevin O'Regan - AnalystOperatorGood morning and welcome to The Manitowoc Company 4th Quarter 2025 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing ...

Financial Data and Key Metrics Changes - The company reported net sales of $677 million for Q4 2025, a 14% increase year-over-year, supported by strong shipments in North America and Europe [13][14] - Adjusted EBITDA for the quarter was $40 million, up $5 million year-over-year, representing a margin of 5.8% [14] - For the full year, net sales reached $2.24 billion, with non-new machine sales at $690 million, reflecting a 10% increase year-over-year [14][16] - The company generated $78 million in free cash flow during Q4 and ended the year with a cash balance of $77 million [13][17] Business Line Data and Key Metrics Changes - Non-new machine sales grew to $690 million, marking a 10% increase year-over-year, indicating progress on the CRANES+50 strategy [14][16] - The company launched 11 new cranes in 2025, including the largest models in their respective categories, contributing to product portfolio expansion [5][6] Market Data and Key Metrics Changes - Orders in Q4 totaled $803 million, a 56% increase year-over-year, with a backlog of $794 million, up 22% from the previous year [9][13] - In Europe, new machine orders increased by 64% year-over-year, while mobile crane orders rose by 39% [10][13] - The Middle East market remains positive, although cash flow issues in Saudi Arabia are causing some concern [11] Company Strategy and Development Direction - The company is focused on expanding its crane-space safety strategy and plans to open new locations in Portugal, Mexico, Chile, and France [19] - A restructuring plan is in place to streamline operations, with projected savings of approximately $10 million in 2026 [18] - The long-term goal is to achieve a return on invested capital of 15%, with a focus on growing non-new machine sales, which deliver higher gross margins [19][20] Management's Comments on Operating Environment and Future Outlook - The management expressed optimism for 2026, anticipating improved results driven by pricing strategies, European market growth, and continued non-new machine business expansion [18][19] - The American market is expected to rebound as interest rates trend down and the tariff environment stabilizes [19] Other Important Information - The company achieved a recordable injury rate (RIR) of 0.94, marking a significant improvement in workplace safety [4][6] - Tariffs had a gross unfavorable impact of $39 million for the year, but the company managed to mitigate approximately 85% of these headwinds through pricing and sourcing actions [16] Q&A Session Summary Question: What is the sales growth outlook for 2026 by region? - The tower crane business is expected to continue strong, particularly in Europe, while the U.S. market presents mixed signals due to tariffs [26] Question: Can you discuss the crane-space safety strategy for 2026? - The strategy is expected to maintain a flat cadence, with non-new machine sales anticipated to remain stable despite some headwinds from tariffs [27][28] Question: What were the orders in January? - January orders were approximately $225 million, supported by a successful winter campaign for tower cranes [33] Question: Can you provide an update on the Manitowoc Way and LEAN implementation? - The company is making significant progress in LEAN practices, focusing on shop floor efficiency and customer experience improvements [34][35] Question: How do you see the first quarter looking? - The first quarter is expected to face headwinds from tariffs and foreign exchange impacts, leading to lower performance compared to the rest of the year [37]

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Forward-Looking Statements Fourth-Quarter and Full-Year 2025 Earnings Conference Call February 10, 2026 Safe Harbor Statement Any statements contained in this presentation that are not historical facts are "forward-looking statements." These statements are based on the current expectations of the management of the Company, only speak as of the date on which they are made and are subject to uncertainty and changes in circumstances. The Company undertakes no obligation to update or revise forward-looking stat ...

Core Insights - Manitowoc Company, Inc. (MTW) is a prominent player in the crane manufacturing industry, recognized for its innovative designs and comprehensive support for lifting solutions [1] Financial Performance - On February 9, 2026, MTW reported an earnings per share (EPS) of $0.26, slightly below the expected $0.268, while revenue reached $677.1 million, exceeding market expectations [2][7] - In Q4 2025, MTW's net income was $7 million, or $0.19 per diluted share, with adjusted net income at $9.5 million, aligning with the reported EPS [3] - The company experienced a 13.6% increase in net sales year-over-year, amounting to $677.1 million, driven by strategic expansions and strong market demand [4] Market Demand and Orders - MTW saw a significant surge in orders by 55.8% from the previous year, totaling $803.4 million, contributing to a backlog of $793.5 million, indicating robust demand for its products [3][7] Valuation and Financial Health - The company's P/E ratio is approximately 9.24, suggesting moderate valuation, while the price-to-sales ratio of 0.24 indicates investors pay 24 cents for every dollar of sales [5] - MTW's debt-to-equity ratio stands at 0.81, reflecting a moderate level of debt, and a current ratio of 2.14 highlights a strong liquidity position [6] - The earnings yield of 10.82% indicates a favorable return on investment for shareholders, underscoring the company's solid financial standing [6]

Exhibit 99.1 The Manitowoc Company Reports Fourth-Quarter and Full-Year 2025 Financial Results; Provides Full- Year 2026 Guidance Fourth-Quarter 2025 Highlights Full-Year 2025 Highlights MILWAUKEE, Wis. - The Manitowoc Company, Inc. (NYSE: MTW) (the "Company" or "Manitowoc") today reported fourth- quarter net income of $7.0 million, or $0.19 per diluted share. Fourth-quarter adjusted net income (1) was $9.5 million or $0.26 per diluted share. Orders in the fourth quarter were $803.4 million, a 55.8% increas ...