MTW
The Manitowoc Company, Inc.13.03
+0.15+1.16%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
FY Q4 '25
Strong Jan orders offset Q1 warnings
Q&A remained sparse but surfaced strong January orders of $225 million, driven by a solid tower crane winter campaign and robust North America demand for large RTs and crawlers. Tower cranes should tailwind 2026 growth, while U.S. tariffs create drag, justifying restructuring. Non-new machine sales cadence stays flat quarterly, with margins poised to improve from lower used volume. Q1 faces headwinds from tariffs and FX before savings materialize. January delivered $225 million. Answers largely reaffirm scripted optimism on Europe and aftermarket progress. Investors will watch Q1 resilience.
Last Quarter (Q3 '25)
FY Q3 '25
Sparse Q&A reaffirms margin drivers
Q&A was thin, merely reaffirming prepared remarks on margin gains from non-new machine sales and European tower cranes. Barclays' Tyler Russell asked about drivers behind adjusted EBITDA margin expansion to 6% (up 120bps YoY) and why total sales rose 5.4% versus non-new's 4.9%. Management pointed to favorable mix plus Q2 shipment misses pulling forward into Q3. No contradictions, strategy shifts, or fresh risks emerged. Q&A added zip. Investors will watch tariff mitigation toward full-year EBITDA at guidance's low end amid NA volatility.
Key Stats
Market Cap
462.19MP/E (TTM)
8.14Basic EPS (TTM)
1.60Dividend Yield
0%Recent Filings
10-K
FY2025 results
Manitowoc's FY2025 10-K filing lacks financial statements, segment results, or quarterly metrics, so topline revenue, profitability, EPS, and cash flow trends not disclosed. CRANES+50 strategy advanced with early 2025 acquisitions of Ring Power territories in Georgia, North and South Carolina, plus a Nashville facility expansion and new Hiab loader crane distribution across 13 states. ServiceMax digital tool launched for machine lifecycle tracking. Safety hit recordable injury rate of 0.94. No Q4 momentum or annual guidance provided. Supply chain constraints risk delaying backlog conversion.
8-K
Investor presentation furnished
The Manitowoc Company furnished an investor presentation under Item 7.01 ahead of its February 11-14, 2026 events, highlighting 2025 results of $2.2B net sales, $122M adjusted EBITDA (5.4% margin), and 5.3% adjusted ROIC. It outlines transformation via aftermarket growth, rental fleet expansion to $154M, and $180M in accretive acquisitions generating >$45M EBITDA. Aspirational targets hit $3B revenue, 12% EBITDA, 15% ROIC over five years. Cycles loom.
8-K
Q4 orders soar 56%
Manitowoc crushed Q4 2025 with orders surging 55.8% to $803.4 million and sales up 13.6% to $677.1 million, building a $793.5 million backlog. Full-year sales hit $2.24 billion amid challenges, yet non-new machine sales climbed 9.8% to $690.5 million. Backlog powers 2026 guidance of $2.25-2.35 billion sales. Restructuring saves $10 million.
8-K
Board adds two CEOs
The Manitowoc Company expanded its board from eight to ten directors, appointing Mark B. Rourke, CEO of Schneider National, and Randy A. Wood, CEO of Lindsay Corporation, effective January 20, 2026. Both receive standard non-employee director compensation. Their operational expertise bolsters strategic decision-making. Proven leaders join board.
10-Q
Q3 FY2025 results
Manitowoc swung to Q3 operating income of $18.5M, up sharply from $7.5M y/y, on 5.4% sales growth to $553.4M driven by tower cranes in EURAF while MEAP softened; gross margin expanded 180bps to 18.5% from favorable mix. Diluted EPS of $0.14 reconciles to 36.3M shares. Cash dipped to $39.7M amid $68.9M operating outflow, yet $144.4M revolver availability bolsters liquidity alongside $500.4M total debt. Assets from Ring Power closed Feb 2025 for $12.9M cash (inventory/intangibles per Note 3). Inventories ballooned. Competition pressures orders.
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