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The Manitowoc Company, Inc. reports developments tied to its global crane and engineered lifting-solutions business. The company designs, manufactures, markets, and supports mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under brands including Grove, Manitowoc, National Crane, Potain, Shuttlelift, Upfits by Aspen Equipment, and MGX Equipment Services.
Recurring news themes include quarterly financial results, orders and backlog, guidance, new products, aftermarket and non-new machine sales under the CRANES+50 strategy, direct-to-customer service expansion, dealer relationships, trade and regulatory matters affecting mobile cranes, and board or executive leadership changes.
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The Manitowoc Company, Inc. (NYSE: MTW) will release its first-quarter 2023 results on May 2, 2023, after market close. Following this, a conference call to discuss the results and future outlook is scheduled for May 3, 2023, at 10:00 a.m. ET.
Investors can access the live conference call via webcast on the Manitowoc website in the 'Events & Presentations' section. A replay will also be available at the same link. Manitowoc, established in 1902, specializes in providing engineered lifting solutions across various markets, offering product lines including mobile hydraulic cranes, tower cranes, and more.
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.
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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.