Manitowoc Company, Inc. (The) Common Stock (MTW)

Let’s dig into the relative performance of Caterpillar (NYSECAT) and its peers as we unravel the now-completed Q4 construction machinery earnings season.

Construction equipment company Astec (NASDAQASTE) will be announcing earnings results tomorrow before market open. Here’s what you need to know.

Shares of crane and lifting equipment company Manitowoc (NYSEMTW) jumped 21.9% in the morning session after the company reported strong fourth-quarter results that significantly exceeded analysts' EPS expectations, with EBITDA also outperforming Wall Street estimates by a wide margin. However, backlog declined notably, and revenue remained flat compared to the prior year, inline with expectations. Looking ahead, the company remains focused on growing its non-new machine sales and expanding its aftermarket business, as highlighted by its recent distribution rights acquisition in the southeastern U.S. However, the backlog weakness raises concerns about future growth momentum. Zooming out, we think this was a decent quarter featuring some areas of strength but also some blemishes.

Crane and lifting equipment company Manitowoc (NYSEMTW) met Wall Street’s revenue expectations in Q4 CY2024, but sales were flat year on year at $596 million. Its non-GAAP profit of $3.70 per share was significantly above analysts’ consensus estimates.

The Manitowoc Company, Inc. (NYSEMTW) (the “Company” or “Manitowoc”) today reported fourth-quarter net income of $56.7 million, or $1.59 per diluted share. Fourth-quarter adjusted net income(1) was $3.7 million or $0.10 per diluted share.

Crane and lifting equipment company Manitowoc (NYSEMTW) will be announcing earnings results tomorrow after market close. Here’s what investors should know.

The Manitowoc Company, Inc. (NYSEMTW) (“the Company” or “Manitowoc”), a leading global manufacturer of cranes and lifting solutions, announced today that through its wholly- owned subsidiary, MGX Equipment Services, LLC, it has completed the acquisition of certain crane assets of Ring Power Corporation (“Ring Power”). This transaction expands Manitowoc’s direct-to-customer footprint in the territories with new and used crane sales, aftermarket parts, service, and remanufacturing support to a diverse range of end market customers. MGX will now serve crane customers in Georgia, North Carolina, and South Carolina. Ring Power will maintain its current facilities in Georgia, North Carolina, and South Carolina for its utility and vocational truck operations. In addition, Ring Power will operate its crane business in Florida representing Grove, Manitowoc, and National Crane products.

The Manitowoc Company, Inc. (NYSEMTW) announced today that it will release its fourth-quarter 2024 and full-year 2024 results on Wednesday, February 12, 2025, after the close of market. The Company will host an earnings call to discuss its results and outlook on Thursday, February 13, 2025, at 10:00 a.m. ET (9:00 a.m. CT).

Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Terex (NYSETEX) and its peers.

The Manitowoc Company, Inc. (NYSEMTW) (the “Company” or “Manitowoc”) today reported that it agreed to the terms of a Consent Decree with the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Justice (DOJ) regarding alleged violations of the Transition Program for Equipment Manufacturers (TPEM), a program under the U.S. Clean Air Act. Per the terms of the agreement, Manitowoc will pay a civil penalty of $42.6 million and complete an emissions mitigation project upgrading a short-line locomotive engine in Maryland. Completion of the terms in the Consent Decree settles this matter and releases the Company from civil claims under the Clean Air Act related to the Company’s participation in the TPEM program.

The Manitowoc Company, Inc. (NYSEMTW), (the “Company” or “Manitowoc”) a leading global manufacturer of cranes and lifting solutions, announced today that it was named one of America’s Most Responsible Companies for the third consecutive year by Newsweek. This prestigious award is presented by Newsweek and Statista Inc., the statistics portal and industry-ranking provider. The awards list, announced on December 3, 2024, can be viewed on Newsweek's website. The Company made a significant leap, advancing 298 places from its 2024 award to achieve the 227th position.

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how construction machinery stocks fared in Q3, starting with Astec (NASDAQASTE).

Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Manitowoc (NYSEMTW) and its peers.

Over the last six months, Manitowoc’s shares have sunk to $10.56, producing a disappointing 13.2% loss - a stark contrast to the S&P 500’s 13.4% gain. This was partly driven by its softer quarterly results and might have investors contemplating their next move.

The Manitowoc Company, Inc. (NYSEMTW), (the “Company’ or “Manitowoc”) announced today that it was recognized as one of the 2024 “Best for Vets” Employers by Military Times. The 2024 recipients list can be viewed on Military Times website.

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the construction machinery stocks, including Caterpillar (NYSECAT) and its peers.

Crane and lifting equipment company Manitowoc (NYSEMTW) reported Q3 CY2024 results topping the market’s revenue expectations, but sales were flat year on year at $524.8 million. Its non-GAAP loss of $2.90 per share was 4,696% below analysts’ consensus estimates.

The Manitowoc Company, Inc. (NYSEMTW) (the “Company” or “Manitowoc”) today reported a third-quarter net loss of $7.0 million, or $0.20 per diluted share. Third-quarter adjusted net loss(1) was $2.9 million, or $0.08 per diluted share.