Overview

* Manitowoc Q2 net sales down 4% yr/yr, missing analyst expectations

* Adjusted EPS for Q2 misses estimates, reflecting market challenges

* Company orders rise 6% driven by MGX distribution and European market

Outlook

* Manitowoc expects U.S. crane market to stabilize in six months

* Company anticipates finishing 2025 at lower end of guidance

* Manitowoc sees positive trends in Europe, Middle East, Asia Pacific

* Company adjusts build schedules for second half of 2025

Result Drivers

* MGX DISTRIBUTION - Strong performance in MGX distribution business contributed to a 6% increase in orders, per CEO Aaron Ravenscroft

* EUROPEAN MARKET - Continued momentum in the European tower crane market supported order growth despite tariff challenges

* NON-NEW MACHINE SALES - Non-new machine sales rose 9.7% year-over-year, partially offsetting the decline in overall net sales

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Sales Miss $539.50 $585 mln

mln (3

Analysts

)

Q2 Miss $0.08 $0.18 (4

Adjusted Analysts

EPS )

Q2 EPS $0.04

Q2 Miss $2.80 $6.54

Adjusted mln mln (3

Net Analysts

Income )

Q2 Net $1.50

Income mln

Q2 Miss $26.30 $35.80

Adjusted mln mln (2

EBITDA Analysts

)

Q2 Gross $99 mln

Profit

Q2 $453.90

Orders mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the heavy machinery & vehicles peer group is "buy."

* Wall Street's median 12-month price target for Manitowoc Company Inc ( MTW ) is $11.00, about 13.4% below its August 6 closing price of $12.47

* The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)