Have you assessed how the international operations of The Manitowoc Company, Inc. (MTW) performed in the quarter ended March 2024? For this company, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health and growth trajectory. For inv ...

The Manitowoc Company, Inc. (MTW) reported $495.1 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.6%. EPS of $0.14 for the same period compares to $0.46 a year ago.The reported revenue represents a surprise of +1.15% over the Zacks Consensus Estimate of $489.48 million. With the consensus EPS estimate being $0.19, the EPS surprise was -26.32%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectatio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 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 | | --- | --- | ...

The Manitowoc Company, Inc. (MTW) reported adjusted earnings per share (EPS) of 14 cents in first-quarter 2024, missing the Zacks Consensus Estimate of 19 cents. The bottom line marked a decline from earnings of 46 cents in the year-ago quarter.Including one-time items, the company reported an EPS of 12 cents in the quarter compared with the prior-year quarter’s 46 cents.Manitowoc’s revenues fell 2.6% year over year to $495 million in the quarter under review. The top line beat the Zacks Consensus Estimate ...

May 8, 2024 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, and are subject to uncertainty and changes in circumstances. Non-GAAP Measures First-Quarter 2024 Earnings Conference Call Safe Harbor Statement There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking ...

The Manitowoc Company, Inc. (MTW) came out with quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -26.32%. A quarter ago, it was expected that this company would post earnings of $0.19 per share when it actually produced earnings of $0.09, delivering a surprise of -52.63%.Over the last four quarters, ...

Exhibit 99.1 The Manitowoc Company Reports First-Quarter 2024 Financial Results First-Quarter 2024 Highlights MILWAUKEE, Wis. - The Manitowoc Company, Inc. (NYSE: MTW) (the "Company" or "Manitowoc") today reported first-quarter net income of $4.5 million, or $0.12 per diluted share. First-quarter adjusted net income (1) was $5.1 million, or $0.14 per diluted share. Net sales in the first quarter decreased 2.6% year-over-year to $495.1 million. First-quarter adjusted EBITDA (1) was $31.3 million, a decrease ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Table of Contents ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Washington, D.C. 20549 FORM 10-K (Address of principal executive offices) (Zip Code) For the fiscal year ended December 31, 2023 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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 Securities registered pursuant to Section 12(b) of the Act: | | Trading | | | --- | --- | --- | | Title of each class | ...

Financial Data and Key Metrics Changes - Sales for Q3 2023 were $521 million, with an adjusted EBITDA of $33 million, representing 6.4% of sales [4][44] - Non-new machine sales increased by 21% year-over-year to $155 million, with total non-new machine sales exceeding $600 million for the first time on a trailing 12-month basis [4][44] - Adjusted EBITDA increased by $9 million or 39% year-over-year, with an adjusted EBITDA margin of 6.4%, up 110 basis points from the prior year [45][46] - Net working capital increased year-over-year by $57 million, driven by inflation and supply chain constraints [20] Business Line Data and Key Metrics Changes - Tower crane machine orders were down 55% year-over-year, indicating a significant decline in demand [12] - The European mobile cranes business was not as adversely affected by the soft residential construction market, with demand holding up in the U.K., Italy, and Iberia [13] - Orders in the Middle East increased by 57% year-over-year, driven by modernization efforts in Saudi Arabia [14][43] Market Data and Key Metrics Changes - The backlog as of September 30 was flat sequentially at $1.028 billion, but increased by 9% year-over-year, predominantly in the Americas [17] - In Europe, housing permits were down 37% in France and 34% in Germany year-over-year, reflecting a slowdown in the residential construction market [40] - The Asia Pacific market remained mixed, with China experiencing softness while India showed strength [42] Company Strategy and Development Direction - The company is transitioning from a product-driven model to a services-oriented business under the Cranes+50 strategy [5][8] - The focus is on expanding service locations and improving the used machine business, with a target to increase non-new machine sales from $675 million to $1 billion [25][34] - The company aims to achieve a long-term sales target of $3 billion, with a split between organic growth and acquisitions [25] Management's Comments on Operating Environment and Future Outlook - Management remains cautious about the short-term outlook for the U.S. market but maintains a positive long-term view [11] - The company expects challenges in Europe due to difficult comparisons in the first half of 2024, while the Middle East continues to strengthen [23][50] - The resilience of the U.S. economy and government responses to the housing crisis in the EU will significantly impact 2024 results [50] Other Important Information - The company generated $26 million in cash from operating activities during the quarter, with a free cash flow of $3 million [47] - A $35 million share repurchase program was approved by the Board of Directors [48] Q&A Session Summary Question: Impact of the war in the Middle East on business - Management indicated that there has been no impact on business from the ongoing conflict, as projects in Saudi Arabia continue to be active [53] Question: Guidance for the fourth quarter - Management discussed the challenges posed by the tower crane business and the uncertainty around vessel issues affecting guidance [31][72] Question: Backlog trends by region or product - The majority of the backlog remains in the U.S., with no specific breakdown by region provided [77] Question: Key areas of cost inflation - Labor remains a significant challenge, particularly in fabricated parts, with high-strength steel prices not decreasing as expected [78][80]