Manitex Intl Inc Stock Price, News & Analysis

Manitex International, Inc. (Nasdaq: MNTX) reported robust financial results for Q4 and full-year 2022, with net revenue increasing by 47.6% to $78.8 million in Q4, driven by strong organic growth. The total backlog rose to $230.2 million, up 22% year-over-year. Despite a net loss of $4.3 million for the full year, adjusted EBITDA surged 165% to $21.3 million. The company introduced its Elevating Excellence strategy aimed at enhancing operational efficiency and profitability, with ambitious 2025 targets forecasting revenues between $325 million and $360 million. Net leverage improved to 3.9x, indicating strong liquidity positioning.

Manitex International, Inc. (Nasdaq: MNTX), a leader in truck cranes and industrial equipment, announced that CEO Michael Coffey and CFO Joseph Doolan will attend the 35th Annual Roth Conference from March 12-14, 2023 in Dana Point, California. The executives will hold one-on-one meetings with registered investors during the event.

Manitex specializes in manufacturing mobile truck cranes, industrial lifting solutions, and construction equipment, with a distribution network across North America and Europe. The company serves various markets including construction and heavy industry.

Manitex International (MNTX), a leader in truck cranes and industrial equipment, has announced a brand consolidation initiative aimed at enhancing its global identity and aligning with its growth strategy, 'Elevating Excellence.' This rebranding will streamline product offerings into five core categories: lifting solutions, aerial work platforms, electric industrial cranes, and rental solutions. CEO Michael Coffey emphasized the initiative's role in improving customer engagement and dealer support. New products reflecting this branding will be showcased at ConExpo 2023 in Las Vegas from March 14-18, 2023, signaling the company's commitment to innovation and market growth.

Manitex International (Nasdaq: MNTX) has appointed Paolo Balugani as the new General Manager of Manitex Valla, its electric crane division. Balugani, with over 32 years in the crane industry, previously served as CEO of Palfinger Platform Italy. His role is pivotal for advancing Manitex's growth strategy, particularly in launching Valla's electric cranes in North America and developing new products for the global market. Manitex Valla, known for carbon-neutral lifting solutions since 1945, aims to leverage Balugani's expertise for its strategic initiatives.

Manitex International (MNTX) announced a 48% year-over-year revenue growth for Q4 2022, reaching $78.8 million, up from $53.4 million in Q4 2021. This growth is attributed to strong demand in both domestic and international markets, improved manufacturing efficiency, and contributions from the Rabern Rentals acquisition. The company reported a backlog of $230.2 million, a 22% increase from 2021. Manitex is set to discuss its updated corporate strategy and long-term financial targets on March 8, 2023 during its earnings call.

Manitex International (NASDAQ: MNTX) announced the addition of Takashi Kiso to its Board of Directors. Kiso, a Senior Administrator at Tadano, brings 37 years of experience in the automotive and industrial sectors. His expertise covers global marketing, distribution, and aftermarket support. He replaces Ingo Schiller, who has served since Tadano's investment in Manitex in 2018. Tadano owns approximately 14.6% of Manitex, highlighting the importance of this strategic partnership. Manitex aims to leverage Kiso's skills to enhance future growth initiatives.

Manitex International (Nasdaq:MNTX) reported a 27.7% increase in Q3 2022 net revenues, reaching $65 million, up from $50.9 million in Q3 2021. Gross margin rose to 19.0% compared to 15.8% in Q3 2021. Despite a net loss of $3.1 million or $(0.15) per diluted share, adjusted net income was $1 million or $0.05 per share, a recovery from last year's loss. Adjusted EBITDA rose to $5.2 million, accounting for 8.0% of sales. The backlog reached $207 million, an 82.3% increase YoY. The company is focused on improving efficiency and anticipates further enhancements in 2023.

Manitex International (NASDAQ:MNTX) will release its third quarter 2022 results on November 3, 2022, after market close. CEO Michael Coffey will lead a conference call at 4:30 PM ET, which will include prepared remarks and a live Q&A session for investors. Interested participants can join the call using designated numbers for the U.S. and international callers. A replay will be available for 90 days. Manitex is recognized for its range of highly engineered mobile cranes and specialized industrial equipment.

Manitex International (NASDAQ:MNTX) announced a strategic realignment of its Illinois operations aimed at enhancing the distribution of its Oil & Steel and Valla product lines in North America. This reorganization includes transitioning its subsidiary, Crane & Machinery, to a direct channel distributor starting January 1, 2023. The company anticipates market potential in excess of $200 million annually in these categories. Leadership asserts that the changes will bolster customer support and facilitate growth without incurring significant additional expenses.