The Manitowoc Company (MTW) Q1 2025 Earnings Call May 07, 2025 11:00 AM ET Company Participants Ion Warner - Senior Vice President, Marketing & Investor RelationsAaron Ravenscroft - President and Chief Executive OfficerBrian Regan - Executive VP & CFOJerry Revich - Senior Investment Leader & Head of US Machinery, Infrastructure, Sustainable Tech franchise Conference Call Participants Steven Fisher - Managing Director & Equity Research Analyst Operator Good morning, and welcome to the Manitowoc Company First ...

Financial Data and Key Metrics Changes - The company generated $471 million in revenue, a decrease of 5% year over year, while adjusted EBITDA was $22 million, down 31% year over year [4][20] - Orders totaled $610 million, representing a 10% increase from the previous year, with a backlog of $798 million [19] - Non-new machine sales reached $161 million, up 11% year over year, contributing to a trailing twelve months total of $645 million [20][34] Business Line Data and Key Metrics Changes - The Americas drove higher order intake, while European tower crane orders increased by 68% year over year, indicating a potential market recovery [19] - Non-new machine sales have shown significant growth, with a 70% increase over the trailing twelve months [34] Market Data and Key Metrics Changes - In North America, orders through third-party dealer channels increased by 35% year over year, reflecting a healthy industry environment [12] - European mobile crane orders were lower year over year but showed sequential improvement, while tower crane orders surged nearly 70% year over year [13][14] - The Middle East experienced a slight decline in orders, but deal activity remains strong, particularly in Saudi Arabia and the UAE [14][15] Company Strategy and Development Direction - The company is focused on its "Cranes plus 50" strategy, aiming to enhance aftermarket services and reduce cyclicality [28][35] - Investments in new products and a rental fleet are being made to better serve customers and capitalize on market recovery [30] - The company is adapting to the global trade reset and is committed to maintaining competitiveness through strategic actions [27][35] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about demand in North America and Europe, citing low dealer inventory levels and strong customer engagement [12][13] - The company is modeling $60 million in incremental costs due to tariffs but has plans to mitigate 80% to 90% of these costs [6][26] - The overall sentiment is that the current economic environment is challenging, but the company is well-positioned for recovery [35] Other Important Information - The company has integrated AI into its improvement processes, resulting in significant labor savings and efficiency gains [11] - The company has doubled its number of field service technicians globally to nearly 500, enhancing its aftermarket presence [34] Q&A Session Summary Question: Can you unpack the mitigation to the tariff numbers shared? - Management indicated that mitigations include price increases, alternative sourcing, and vendor cooperation, emphasizing that the situation is expected to be short-term [38][39] Question: How much of the tariff cost impact is from China? - Management noted that the tariff impact is a mix of various factors, including steel and aluminum tariffs, and did not provide a clear breakdown [41] Question: What is driving the increased demand in Europe? - Management attributed the demand increase to low dealer inventory and overall economic recovery, though caution was expressed regarding specific regional conditions [43][44] Question: Are higher costs for raw materials factored into the tariff impact? - Yes, higher costs for raw materials such as steel and aluminum are included in the estimated tariff cost impact [51] Question: What is the current momentum in the U.S. non-residential construction markets? - Management noted strong utilization and ongoing large projects, but emphasized the need for clarity on specific end markets [53][54] Question: What are the drivers behind the growth in non-new machine sales? - Growth is broad-based, with strong performance in used machines and European tower crane business, supported by expanding service capabilities [56][57]

The Manitowoc Company (MTW) Q1 2025 Earnings Call May 07, 2025 11:00 AM ET Speaker0 Good morning, and welcome to the Manitowoc Company First Quarter twenty twenty five Earnings Conference Call. All participants will be in listen only mode. Please note this event is being recorded. I would now like to turn the conference over to Ion Warner. Please go ahead. Speaker1 Good morning, everyone, and welcome to our earnings call to review the company's first quarter twenty twenty five financial performance and busi ...

The Manitowoc Company (MTW) Q4 2024 Earnings Call February 13, 2025 10:00 AM ET Company Participants Ion Warner - Senior Vice President, Marketing & Investor RelationsAaron Ravenscroft - President and Chief Executive OfficerBrian Regan - Executive Vice President & Chief Financial OfficerJerry Revich - Senior Investment Leader & Head of US Machinery, Infrastructure, Sustainable Tech franchise Operator Good day, and welcome to the Manitowoc Fourth Quarter and Full Year twenty twenty four Earnings Conference C ...