Manitowoc(MTW)

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Manitowoc(MTW) - 2022 Q3 - Quarterly Report
2022-11-08 21:49
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, 2022 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 ...
Manitowoc(MTW) - 2022 Q3 - Earnings Call Transcript
2022-11-08 20:25
Financial Data and Key Metrics Changes - The company's third quarter sales were $455 million, with an adjusted EBITDA of $24 million, reflecting a 12% increase in net sales year-over-year and a 20% increase in adjusted EBITDA year-over-year [8][25][27] - The adjusted EBITDA margin was 5.3%, an increase of approximately 40 basis points compared to the previous year [27] - The net operating working capital increased by $112 million year-over-year, primarily due to acquisitions and supply chain disruptions [29] Business Line Data and Key Metrics Changes - Non-new machine sales increased by 27% year-over-year, driven by acquisitions and expansion of field service [16] - The backlog at the end of the quarter was $943 million, relatively flat sequentially but impacted by foreign currency exchange rates [24] Market Data and Key Metrics Changes - In North America, demand remained strong with a healthy backlog of projects and government investment in infrastructure [10] - The European market faced challenges due to inflation and geopolitical issues, leading to a slowdown in the tower crane business [12] - The Middle East showed significant growth opportunities, particularly due to Saudi Arabia's Vision 2030 initiative [13] Company Strategy and Development Direction - The company is focused on its Cranes+50 strategy to grow its aftermarket business, which is expected to reduce cyclicality and improve margins [7][16] - The company is also working on internal continuous improvement initiatives to enhance productivity and reduce waste [18][37] Management's Comments on Operating Environment and Future Outlook - The management highlighted a mixed operating environment with high oil prices and significant infrastructure spending, but also noted challenges from supply chain issues and inflation [35] - There is optimism regarding the crane replacement cycle, as aging fleets are expected to drive future demand [36] Other Important Information - The company completed two Kaizens aimed at improving productivity and reducing waste in its operations [18] - The company ended the quarter with a cash balance of $43 million and total liquidity of $245 million [32] Q&A Session Summary Question: Insights on fourth quarter sales and margins - Management indicated that the third quarter is typically weaker, but they have reduced internal forecasts and have a strong backlog to support sales in the fourth quarter [42][44] Question: Expectations for 2023 top line - Management has not provided formal guidance for 2023 but noted a good backlog and consistent order tracking, suggesting potential stability in revenue [48] Question: Backlog and pricing strategy - Management acknowledged that they have not fully worked through lower-priced backlog and expect to do so by the second half of 2023 [55] Question: Aftermarket business growth expectations - Management indicated that the aftermarket business is heavily acquisition-driven but expects mid-single-digit growth moving forward [60] Question: Impact of bauma show on orders - Management reported strong order activity post-bauma, with October orders exceeding $200 million, indicating positive momentum [69]
Manitowoc(MTW) - 2022 Q3 - Earnings Call Presentation
2022-11-08 19:36
Third-Quarter 2022 Earnings Conference Call November 8, 2022 Aaron Ravenscroft – President & Chief Executive Officer Brian Regan – EVP & Chief Financial Officer Ion Warner – SVP Marketing & Investor Relations Forward-Looking Statements 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 ar ...
Manitowoc(MTW) - 2022 Q2 - Earnings Call Presentation
2022-08-06 15:57
Second-Quarter 2022 Earnings Conference Call August 5, 2022 Aaron Ravenscroft – President & Chief Executive Officer Brian Regan – EVP & Chief Financial Officer Ion Warner – SVP Marketing & Investor Relations Forward-Looking Statements 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 ar ...
Manitowoc(MTW) - 2022 Q2 - Earnings Call Transcript
2022-08-06 04:44
The Manitowoc Company, Inc. (NYSE:MTW) Q2 2022 Earnings Conference Call August 5, 2022 10:00 AM ET Company Participants Ion Warner - Vice President, Marketing and Investor Relations Aaron Ravenscroft - President and Chief Executive Officer Brian Regan - Executive Vice President and Chief Financial Officer Conference Call Participants Jamie Cook - Credit Suisse Stephen Volkmann - Jefferies Tami Zakaria - JPMorgan Joe Grabowski - RW Baird Seth Weber - Wells Fargo Securities Steven Fisher - UBS Timothy Thein - ...
Manitowoc(MTW) - 2022 Q2 - Quarterly Report
2022-08-05 20:48
UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ 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) 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 June 30, 2022 OR Wisconsin 39-0448110 (State or other juri ...
Manitowoc(MTW) - 2022 Q1 - Quarterly Report
2022-05-04 21:51
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, 2022 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 jur ...
Manitowoc(MTW) - 2022 Q1 - Earnings Call Transcript
2022-05-04 18:22
The Manitowoc Company, Inc. (NYSE:MTW) Q1 2022 Earnings Conference Call May 4, 2022 10:00 AM ET Company Participants Ion Warner - Senior Vice President, Marketing & Investor Relations Aaron Ravenscroft - President & Chief Executive Officer Brian Regan - Executive Vice President & Chief Financial Officer Conference Call Participants Mig Dobre - Baird Jamie Cook - Credit Suisse Steven Fisher - UBS Tami Zakaria - JPMorgan Stanley Elliott - Stifel Operator Good day everyone and welcome to the Manitowoc's First ...
Manitowoc(MTW) - 2022 Q1 - Earnings Call Presentation
2022-05-04 17:45
First-Quarter 2022 Earnings Conference Call Aaron Ravenscroft– President & Chief Executive Officer May 4, 2022 Brian Regan – EVP & Chief Financial Officer Ion Warner – SVP Marketing & Investor Relations Forward-Looking Statements 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 sub ...
Manitowoc(MTW) - 2021 Q4 - Earnings Call Presentation
2022-02-23 02:52
Fourth-Quarter 2021 Earnings Conference Call February 22, 2021 Aaron Ravenscroft– President & Chief Executive Officer David Antoniuk – EVP & Chief Financial Officer Ion Warner – VP Marketing & Investor Relations Forward-Looking Statements 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, an ...