Manitowoc Lifts 2026 Outlook: Adjusted EBITDA Midpoint Climbs 27% on Tariff Refunds and Robust Backlog
MTW has more than doubled off its 52-week low of $9.66.
Summary
Manitowoc raised 2026 guidance across revenue, EBITDA, EPS, and free cash flow, citing tariff refunds and a 44% jump in backlog to $1.05B.
Key Events · Earnings and Guidance · MTW
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2026 Guidance Raised Across All Metrics
Net sales are now guided to $2.3–$2.4B, up from $2.25–$2.35B; Adjusted EBITDA to $150–$170M, up from $125–$150M; Adjusted DEPS to $0.80–$1.20, up from $0.45–$0.90; and Adjusted free cash flow to $50–$70M, up from $40–$65M.
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Tariff Refunds Add $16M to EBITDA
The updated Adjusted EBITDA range includes a $16 million net benefit from tariff refunds—a one-time item that accounts for roughly 64% of the $25M midpoint increase.
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Backlog Up 44% YoY to $1.05B
Backlog reached $1.05 billion as of June 30, 2026, up 44% year over year, supporting the raised revenue outlook.
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Net Leverage at 2.6x
Net leverage stood at 2.6x as of June 30, 2026, with management focused on reducing net debt and $29M remaining on the approved repurchase plan.
Analysis · MTW · Technology
In an investor presentation filed today, Manitowoc raised its full-year 2026 guidance across all key metrics. Adjusted EBITDA is now expected to be $150–$170 million, up from $125–$150 million, with $16 million of the increase attributable to tariff refunds. Adjusted EPS guidance nearly doubled at the midpoint, moving to $0.80–$1.20 from $0.45–$0.90. The company also disclosed a $1.05 billion backlog, up 44% year over year, and net leverage of 2.6x. This marks the first public disclosure of the updated guidance—the prior 10-Q on August 7 reported Q2 results but did not include these raised full-year targets. The magnitude of the EBITDA and EPS increases is material for a company of this size, and the tariff refund component is a one-time benefit that investors should separate from underlying operating performance.
How filings like this one have moved
In the 30 days to Aug 25, 2026, 29.6% of the 2856 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.04%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, MTW was trading at $19.48 on NYSE in the Technology sector, with a market capitalization of approximately $702.5M. The 52-week trading range was $9.66 to $21.34. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.