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.
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.
The Manitowoc Company, Inc. (NYSE: MTW) is set to release its second quarter 2022 results on August 4, 2022, after market close. A conference call will follow on August 5, 2022, at 10:00 a.m. ET to discuss the results and future outlook. Interested parties can access the call via webcast on Manitowoc's website, with a replay also available.
Manitowoc has over 120 years of experience in providing engineered lifting solutions, manufacturing a diverse range of cranes and related products.
The Manitowoc Company (NYSE: MTW) has announced its withdrawal from the CONEXPO-CON/AGG 2023 trade show. This decision is attributed to several price increases that have been passed onto customers, prompting the company to reassess its investments in large trade shows. President and CEO Aaron Ravenscroft emphasized the company's commitment to investing in new products, with plans to showcase innovations at the upcoming bauma show in October 2022. Manitowoc will also host a Crane Days event in Shady Grove, Pennsylvania in the future.
The Manitowoc Company (NYSE: MTW) announced that its President and CEO, Aaron H. Ravenscroft, along with CFO Brian P. Regan, will present at the Stifel Cross Sector Insight Conference on June 9, 2022, from 9:45 a.m. to 10:15 a.m. ET. Interested parties can access the live audio webcast and related materials via Manitowoc’s Investor Relations website. Manitowoc, established in 1902, is recognized for its engineered lifting solutions, including mobile hydraulic cranes and tower cranes.
The Manitowoc Company (NYSE: MTW) reported first-quarter 2022 net sales of $459.0 million, a 29.6% year-over-year increase. However, net income reached $3.1 million or $0.09 per diluted share, lower than expectations due to supply chain issues. Adjusted EBITDA rose to $31.2 million, reflecting a $10.1 million increase from the prior year. The backlog increased by 56.0% year-over-year to $1,033.4 million. However, ongoing global challenges, including inflation and supply chain deterioration, may affect future margins and demand.
The Manitowoc Company, Inc. (NYSE: MTW) has announced it will release its first quarter 2022 results on May 3, 2022, after market close. A conference call to discuss the results and outlook is scheduled for May 4, 2022, at 10:00 a.m. ET. This call will be accessible via webcast on Manitowoc's website, where a replay will also be available. Manitowoc, established in 1902, is a leading provider of engineered lifting solutions, offering a range of mobile hydraulic cranes, crawler cranes, boom trucks, and tower cranes under various brand names.
The Manitowoc Company (NYSE: MTW) announced it has halted operations in Russia due to the ongoing Ukraine conflict, stopping new crane orders. Sales to Russia constituted less than 2% of total sales in 2021, impacting around 20 local employees. CEO Aaron H. Ravenscroft stated the company prioritizes the safety of their team and complies with sanctions. Manitowoc is a prominent manufacturer of cranes and lifting solutions, with a history dating back to 1902, offering a wide range of products under various brand names.
The Manitowoc Company (NYSE: MTW) announced the resignation of CFO David J. Antoniuk, effective May 2, 2022, with Brian P. Regan stepping into the role. Regan, previously Vice President, Corporate Controller, joined Manitowoc in 2018 and will also oversee Treasury. Antoniuk, who will move to an advisory role until January 2, 2023, was commended for his contributions, including the successful company transition and strategic acquisitions. The press release highlights the company’s ongoing commitment to effective leadership and strategic development in the crane manufacturing sector.
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