Key TakeawaysThe People's Bank of China (PBOC) fixed the Yuan midpoint at its strongest level since May 11, 2023, signaling a potential shift in Beijing's tolerance for currency appreciation.Japan’s 40-year government bond (JGB) yield surged 5 basis points to 3.565%, reflecting investor anxiety over the Bank of Japan's (BOJ) long-term interest rate trajectory.Bilateral relations between Japan and China face a "deep freeze" risk, as geopolitical friction under Prime Minister Sanae Takaichi threatens to spill ...

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]

Core Insights - Hiab has completed the acquisition of Brazilian crane manufacturer ING Cranes, enhancing its market presence in Brazil [1][2] - The financial results of ING Cranes will be included in Hiab's reporting starting from the first quarter of 2026, with ING Cranes' sales in 2024 reported at approximately EUR 50 million [2] - The acquisition allows Hiab to offer a comprehensive range of loader cranes, solidifying its position in the Brazilian agriculture, rental, construction, and transportation industries [3] Company Overview - Hiab is a leading provider of smart and sustainable on-road load-handling solutions, with continuing operations sales in 2024 totaling approximately EUR 1.6 billion and employing over 4,000 people [4] - The company operates through an extensive network of 3,000 sales and service locations globally, enabling delivery to over 100 countries [4]

Financial Performance - Net sales reached $471 million[12] - Adjusted EBITDA was $22 million[12] - Liquidity remains strong at $307 million[24] - Free cash flows were $2.1 million[40] compared to $(42.8) million in the same period last year[40] - Adjusted ROIC is 5.1%[41] Orders and Sales - Orders totaled $610 million[12] - Non-new machine sales increased by 11% year-over-year[12] - The company plans to mitigate 80-90% of the approximately $60 million in tariff costs[27] Market Conditions - Overall positive customer sentiment exists, but tariffs are creating pockets of uncertainty[18] - North America shows improved order intake and stable rental utilization[18] - Europe shows improved customer sentiment from German infrastructure announcement and towers showing signs of recovery[18] - Asia Pacific shows India remains strong while China weakness continues[18]