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.)
