Welcome to our dedicated page for Manitowoc Co news (Ticker: MTW), a resource for investors and traders seeking the latest updates and insights on Manitowoc Co stock.
The Manitowoc Company, Inc. (NYSE: MTW) is a Milwaukee, Wisconsin-based manufacturer of engineered lifting products and services, with a focus on mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes. Its brands include Aspen Equipment, Grove, Manitowoc, MGX Equipment Services, National Crane, Potain, Shuttlelift, and Upfits by Aspen Equipment. This news page aggregates company announcements, earnings updates, and other disclosures that help investors and industry followers understand developments at Manitowoc.
Readers can expect frequent earnings releases and financial updates, where Manitowoc reports quarterly net sales, orders, backlog, net income, and non-new machine sales, along with commentary on trends in its Americas, Europe and Africa, and Middle East and Asia-Pacific segments. These communications often discuss factors such as tariffs, macroeconomic conditions, and regional crane demand, as well as the performance of the company’s MGX distribution business and aftermarket offerings.
The news flow also includes investor relations events, such as participation in conferences where Manitowoc’s leadership presents and hosts one-on-one investor meetings. Announcements about scheduled earnings calls and webcasts provide access points for analysts and shareholders to hear management’s views on results and outlook.
In addition, Manitowoc issues news related to regulatory, trade, and cybersecurity developments. Examples include its support for European Commission anti-dumping investigations into mobile crane imports from China and its disclosure that subsidiary Grove US LLC achieved Cybersecurity Maturity Model Certification (CMMC) Level 2 from the U.S. Department of Defense. For anyone tracking MTW, this page offers a centralized view of the company’s official news and public statements.
The Manitowoc Company (NYSE: MTW) has announced the schedule for its second-quarter 2024 earnings release and conference call. The company will release its Q2 2024 results on Wednesday, August 7, 2024, after the market closes. A conference call to discuss the results and outlook will be held on Thursday, August 8, 2024, at 10:00 a.m. ET (9:00 a.m. CT). Investors and interested parties can access the webcast of the conference call on the Manitowoc website at http://ir.manitowoc.com in the 'Events & Presentations' section. A replay of the call will also be available on the same webpage for those unable to attend the live event.
Moody's Ratings has upgraded Manitowoc's credit rating to B1 from B2, reflecting the company's solid operating performance. This upgrade is attributed to Manitowoc's strategic efforts to reduce cyclicality exposure through its CRANES+50 strategy, which focuses on growing higher margin and more stable aftermarket parts and services, as well as other non-new machine businesses. The improved rating demonstrates Manitowoc's successful implementation of its business strategy and financial stability.
The Manitowoc Company (NYSE: MTW) has announced its participation in two upcoming investor conferences. The management will attend the Stifel Cross Sector Insight Conference in Boston, MA on June 5, 2024, and the IDEAS Conference in New York, NY on June 13, 2024. No formal presentations are scheduled for these events.
The Manitowoc Company, Inc. (NYSE: MTW) reported first-quarter 2024 net sales of $495.1 million, down 2.6% year-over-year. Diluted net income per share was $0.12, $0.14 on an adjusted basis. Adjusted EBITDA was $31.3 million with a margin percentage of 6.3%. Adjusted return on invested capital was 9.5%. Despite facing challenges in the European tower crane market, first-quarter orders saw a 5.6% increase year-over-year, resulting in a strong backlog of $971.3 million.
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