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 reported a strong second quarter with a net income of $17.9 million, or $0.50 per diluted share, and adjusted net income of $21.2 million, or $0.60 per diluted share. Net sales surged by 41% year-over-year to $463.6 million, bolstered by favorable foreign currency exchange rates. Orders reached $537.2 million, a remarkable increase of 126% from the previous year. Backlog also grew by 71% to $736.1 million. Despite operational challenges from a cybersecurity incident and anticipated economic pressures, Manitowoc remains optimistic about future growth and has updated its full-year guidance.
The Manitowoc Company (NYSE: MTW) is set to release its second-quarter 2021 results after the market closes on August 5, 2021. The company will host a conference call to discuss its results and future outlook on August 6, 2021, at 10:00 a.m. ET. Investors can access the call via webcast on Manitowoc's website, where a replay will also be available.
Founded in 1902, Manitowoc is a leading provider of engineered lifting solutions, producing mobile hydraulic cranes, tower cranes, and more under renowned brands.
H&E Equipment Services (NASDAQ: HEES) announced a definitive agreement to sell its crane business to The Manitowoc Company (NYSE: MTW) for $130 million in cash. The transaction, expected to close in Q4 2021, aims to enhance H&E's focus on the equipment rental market, which has shown significant growth, increasing rental revenues from 32% to 51% over the past decade. The sale will strengthen H&E's EBITDA margin and allow investment in fleet expansion and technology. The transaction was unanimously approved by H&E's Board of Directors.
The Manitowoc Company (NYSE: MTW) has signed a definitive agreement to acquire the crane business of H&E Equipment Services, Inc. (NASDAQ: HEES) for approximately $130 million, to be funded through cash and debt. This acquisition, expected to close in Q4 2021, will enhance Manitowoc's offerings in rentals, sales, and services across various markets. Manitowoc aims to grow its less cyclical operations, while H&E focuses on strengthening its core rental business. This move aligns with Manitowoc's strategic priority of expanding its aftermarket capabilities.
The Manitowoc Company (NYSE: MTW) announced a cybersecurity incident leading to a systems outage, prompting engagement of third-party IT specialists and legal counsel. Federal law enforcement has been notified as the Company works on restoration. This incident may disrupt operations and has resulted in the cancellation of its participation at the Stifel Virtual Cross Sector Insight Conference set for June 10, 2021. Manitowoc underscores its commitment to network security and is taking measures to mitigate risks.
The Manitowoc Company (NYSE: MTW) announced that Aaron H. Ravenscroft, President and CEO, and David J. Antoniuk, Executive VP and CFO, will present at the Stifel Cross Sector Insight Conference on June 10, 2021. The presentation is scheduled from 1:20 to 1:50 p.m. ET. Interested parties can access the live audio webcast and materials on Manitowoc’s Investor Relations website. Manitowoc, founded in 1902, is a leading provider of engineered lifting solutions, offering products under brands like Grove and Manitowoc.
The Manitowoc Company (NYSE: MTW) will have its President and CEO, Aaron H. Ravenscroft, along with CFO David J. Antoniuk, presenting at the Goldman Sachs Virtual Industrials & Materials Conference on May 12, 2021. The presentation is set for 8:50 to 9:25 a.m. ET, with a live audio webcast accessible via Manitowoc’s Investor Relations website. The company, established in 1902, is renowned for its high-quality lifting solutions, offering mobile telescopic cranes, tower cranes, and more under various brand names.
The Manitowoc Company (NYSE: MTW) reported a first-quarter net loss of ($3.1) million, equating to ($0.09) per diluted share, contrasting with an adjusted net loss of ($2.2) million or ($0.06) per share. However, net sales increased by 7.6% year-over-year, totaling $354.3 million, bolstered by favorable currency exchange impacts. Orders surged by 26.3% to $473.6 million, with backlog increasing to $662.5 million, a 27.2% annual rise. Despite positive crane demand trends, the company acknowledged ongoing inflationary and supply chain challenges affecting future results. 2021 adjusted EBITDA guidance is set between $90 million and $105 million.
The Manitowoc Company (NYSE: MTW) plans to release its first-quarter 2021 results on May 5, 2021, after market close. A conference call will follow on May 6, 2021, at 10:00 a.m. EDT, where the company will discuss its results and future outlook. The call will be accessible via webcast on Manitowoc's website, with a replay option available afterward.
Manitowoc is recognized for delivering high-quality lifting solutions through its brands, including Grove and Potain, and has a robust history dating back to 1902.
The Manitowoc Company (NYSE: MTW) announced that CEO Aaron H. Ravenscroft and CFO David J. Antoniuk will present at the JP Morgan Industrials Virtual Conference on March 16, 2021, from 1:10 to 1:50 p.m. ET. The live audio webcast and materials will be available on Manitowoc’s Investor Relations website ahead of the event, with replay options to follow. Manitowoc, founded in 1902, is a leading provider of engineered lifting solutions, manufacturing mobile telescopic cranes, tower cranes, and more under various brand names.
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