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.
Manitowoc Co Inc (MTW) delivers engineered lifting solutions through its innovative crane systems, serving construction, energy, and industrial sectors worldwide. This page provides timely updates on corporate developments, financial performance, and operational milestones.
Access official press releases, earnings reports, and strategic announcements in one centralized location. Investors and industry professionals will find updates on product innovations, market expansions, and leadership decisions that shape Manitowoc's position in heavy machinery markets.
Key content includes quarterly financial results, new product launches like Potain tower cranes, operational updates across Americas, EMEA, and Asia-Pacific regions. Bookmark this page to stay informed about Manitowoc's advancements in lifting technology and global infrastructure projects.
Manitowoc Company (NYSE: MTW) reported a fourth-quarter 2022 net sales of $621.6 million, a 24.9% increase year-over-year, and adjusted EBITDA of $51.5 million, up 50.6%. Despite a diluted loss per share of $(4.10), which included a non-cash impairment charge of $(4.89), adjusted earnings were $0.74. The full year saw net sales of $2.0 billion to $2.1 billion expected for 2023, with adjusted EBITDA between $130 million and $160 million. Fourth-quarter orders reached $708.0 million, a 15.1% increase, contributing to a backlog of $1.056 billion.
The Manitowoc Company, Inc. (NYSE: MTW) will announce its fourth-quarter and full-year 2022 results on February 20, 2023, at approximately 5:00 p.m. ET. A conference call discussing the results and future outlook is scheduled for February 21, 2023, at 10:00 a.m. ET (9:00 a.m. CT). This call will be available via webcast on the Manitowoc website and a replay will also be accessible afterward.
Founded in 1902, Manitowoc is a leading provider of engineered lifting solutions, offering products like mobile hydraulic cranes and tower cranes under brands such as Grove and Potain.
The Manitowoc Company (NYSE: MTW) reported a net income of $2.3 million for Q3 2022, translating to $0.07 per diluted share, with adjusted net income at $3.4 million or $0.10 per share. Net sales rose 12.4% year-over-year to $454.7 million, despite a $31.6 million negative impact from foreign currency exchange rates. The total backlog also increased by 5.9% to $943.4 million, though orders decreased by 12.7% to $472.0 million, adversely affected by $24.4 million due to currency fluctuations. The CEO acknowledged ongoing supply chain and inflation challenges.
The Manitowoc Company (NYSE: MTW), a global leader in crane manufacturing, will have its President and CEO, Aaron H. Ravenscroft, alongside CFO, Brian P. Regan, present at the Baird 2022 Global Industrial Conference. This event is scheduled for November 9, 2022, from 4:40 p.m. to 5:10 p.m. CT. Interested parties can access presentation materials via Manitowoc’s Investor Relations website. Established in 1902, Manitowoc delivers high-quality lifting solutions through brands like Grove and Potain.
The Manitowoc Company, Inc. (NYSE: MTW) is set to release its third-quarter 2022 results on November 7, 2022, post-market close. A conference call for the results and outlook will be hosted on November 8, 2022, at 10:00 a.m. ET. Investors can access the call via webcast on Manitowoc's website. The company, established in 1902, specializes in engineered lifting solutions and offers a diverse product range including mobile hydraulic cranes and tower cranes under multiple brand names.
The Manitowoc Company (NYSE: MTW) announced the acquisition of certain assets from Honnen Equipment Company's crane rental fleet through its subsidiary, MGX Equipment Services, LLC. This strategic move ends Honnen's dealer agreement with Manitowoc in Colorado, Wyoming, and Nebraska, allowing Manitowoc to expand its direct-to-customer operations in these regions. The acquisition aims to enhance sales, service support, and aftermarket parts availability for diverse customer segments.
The Manitowoc Company (NYSE: MTW) reported second-quarter 2022 net sales of $497.2 million, a 7.2% year-over-year increase, despite a $27.9 million impact from foreign currency exchange rates. Net income was $15.1 million or $0.42 per diluted share, with adjusted net income at $7.4 million or $0.21 per diluted share. Adjusted EBITDA decreased $4.3 million to $36.4 million. Orders fell 19.2% year-over-year to $434.0 million, with backlog at $947.8 million, down 8.3% sequentially. The CEO mentioned challenges such as inflation, interest rates, and geopolitical tensions affecting customer confidence.
The Manitowoc Company (NYSE:MTW) has appointed Jennifer L. Peterson as Executive Vice President, General Counsel, and Secretary, effective immediately. Peterson, who has served as Interim General Counsel since May 2022, brings over 20 years of legal expertise, having previously held positions at Adient plc and Johnson Controls. President and CEO Aaron H. Ravenscroft expressed confidence in her ability to navigate the increasing demands from stakeholders in legal and compliance areas, positioning Manitowoc for long-term success.
The Manitowoc Company (NYSE: MTW) has announced the appointment of James S. Cook as Senior Vice President of Human Resources effective immediately. Cook, previously the Senior Vice President of Health, Safety, Environment, brings 20 years of experience in employee development and operational safety. Aaron H. Ravenscroft, President and CEO, expressed confidence in Cook's ability to drive long-term success through cultural change and performance improvement based on The Manitowoc Way. Manitowoc, established in 1902, is a leading provider of engineered lifting solutions.
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