Manitex (MNTX) Q3 Earnings Beat Estimates

Core Insights - Manitex (MNTX) reported quarterly earnings of $0.09 per share, exceeding the Zacks Consensus Estimate of $0.05 per share, but down from $0.14 per share a year ago, representing an earnings surprise of 80% [1] - The company posted revenues of $66.54 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.90% and down from $71.33 million year-over-year [2] - Manitex shares have declined approximately 34.8% year-to-date, contrasting with the S&P 500's gain of 24.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.08 on revenues of $75.47 million, and for the current fiscal year, it is $0.33 on revenues of $295.02 million [7] - The estimate revisions trend for Manitex is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Manufacturing - General Industrial industry, to which Manitex belongs, is currently ranked in the bottom 44% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Another company in the same industry, Graham (GHM), is expected to report quarterly earnings of $0.18 per share, reflecting a year-over-year increase of 350% [9]