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) announced its 2021 Investor Day, scheduled for December 13, 2021, from 9:00 a.m. to 11:30 a.m. EST at the New York Stock Exchange and via webcast. President and CEO Aaron Ravenscroft will present the company’s strategies for long-term growth. Investors can access the webcast through Manitowoc’s Investor Relations website, where a replay will also be available. Founded in 1902, Manitowoc specializes in engineered lifting solutions, including mobile telescopic cranes and tower cranes.
The Manitowoc Company (NYSE: MTW) announced that President and CEO Aaron H. Ravenscroft, along with CFO David J. Antoniuk, will participate in a fireside chat at the Credit Suisse 9th Annual Virtual Industrials Conference on December 1, 2021. The session is scheduled to begin at 12:50 p.m. ET and will last until 1:20 p.m. ET. Interested investors can access the live audio webcast and related materials on Manitowoc’s Investor Relations website, with replays available post-event.
The Manitowoc Company (NYSE: MTW) announced that President and CEO Aaron H. Ravenscroft and CFO David J. Antoniuk will present at the Baird Virtual Industrial Conference on November 10, 2021. The presentation is scheduled for 1:25 to 1:55 p.m. ET, with a link for the live audio webcast available on Manitowoc’s Investor Relations website. The presentation materials will also be accessible before the event and the webcast will be available for replay thereafter. Manitowoc has over 118 years of experience in providing lifting solutions.
The Manitowoc Company (NYSE: MTW) reported a third-quarter net sales of $404.5 million, marking a 13.8% increase year-over-year. Orders reached $535.2 million, reflecting a 37.3% growth. The company experienced a loss of $(0.2 million or $(0.01 per diluted share), while adjusted net income was $2.2 million. Adjusted EBITDA decreased to $20.0 million, down $4.8 million from last year due to inflation and supply chain challenges. The backlog as of September 30 totaled $890.6 million, up 91.6% year-over-year.
The Manitowoc Company, Inc. (NYSE: MTW) will release its third-quarter 2021 results on November 3, 2021, after market close. A conference call to discuss the results and outlook is scheduled for November 4, 2021, at 10:00 a.m. ET. The call will be accessible via a webcast on the Manitowoc website, with a replay available afterwards. Manitowoc has over 118 years in providing engineered lifting solutions, and offers a range of products including hydraulic cranes and boom trucks.
The Manitowoc Company (NYSE: MTW) announced the election of Amy R. Davis and Robert W. Malone to its Board of Directors, effective immediately. This move increased the board size from eight to ten members. Ms. Davis, currently President of New Power Business at Cummins, has extensive experience in sales and management. Mr. Malone, President of Parker-Hannifin's Filtration Group, brings significant operational expertise. Chairman Kenneth W. Krueger emphasized that both will provide valuable perspectives for Manitowoc's strategic growth.
The Manitowoc Company (NYSE: MTW) will host its 2021 Investor and Analyst Meeting on December 13, 2021, at 9:00 a.m. EST at the New York Stock Exchange and via webcast. CEO Aaron H. Ravenscroft and senior management will discuss the company’s strategies for sustainable long-term growth. More details, including webcast information, will be provided closer to the event date and can be found on the company’s Investor Relations website.
Founded in 1902, Manitowoc is a leading global provider of cranes and lifting solutions.
H&E Equipment Services has completed the sale of its crane business to a wholly-owned subsidiary of Manitowoc Company for approximately $130 million. The cash proceeds will fund facility expansions, rental fleet investments, and general corporate purposes. CEO Brad Barber stated that this divestment allows H&E to focus exclusively on its equipment rental strategy, potentially enhancing revenue and margins. Additionally, the sale of two earthmoving distribution branches in Arkansas was finalized, maintaining H&E's operations in Louisiana, bringing their rental operations to 101 branches across 24 states.
The Manitowoc Company has completed the acquisition of the crane business from H&E Equipment Services for approximately $130 million. This strategic move is intended to enhance Manitowoc's aftermarket services and expand its market reach through the establishment of MGX Equipment Services, LLC, which will focus on sales, service, parts, and financing for cranes. The acquisition aligns with Manitowoc's goal of increasing shareholder value and improving customer support.
The Manitowoc Company (NYSE: MTW) has completed the acquisition of Aspen Equipment Company for approximately $51 million. This acquisition enhances Manitowoc's capabilities in crane manufacturing and upfitting, targeting markets in Iowa, Nebraska, and Minnesota. Manitowoc’s President Aaron H. Ravenscroft emphasized the strategic synergies from this acquisition, particularly in serving utility and telecommunications sectors. The move is expected to bolster Manitowoc's direct-to-customer operations and improve its aftermarket service offerings.