Manitowoc Q2 Blowout: Net Income Swings to $14.2M, Orders Surge 56%, Backlog Hits $1.05B
MTW has more than doubled off its 52-week low of $9.09 on elevated volume (4.9× avg).
Summary
Manitowoc reported Q2 2026 net income of $14.2M, an 86% surge in adjusted EBITDA to $48.9M, and a 56% jump in orders to $708.7M, driving backlog to $1.05B.
Key Events · Earnings and Guidance · MTW
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Q2 Net Income Swings to $14.2M
Net income of $14.2M ($0.39/share) vs $1.5M in Q2 2025, driven by higher sales and an $11.8M net benefit from IEEPA tariff refunds.
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Orders Surge 56%, Backlog Hits $1.05B
Orders increased 56.1% to $708.7M, with backlog up 44% year-over-year to $1,050.1M, indicating strong future revenue visibility.
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Adjusted EBITDA Up 86% to $48.9M
Adjusted EBITDA rose to $48.9M from $26.3M, with margin expanding to 8.2% from 4.9%, reflecting operational leverage.
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Tariff Refund Provides One-Time Boost
Received $26.2M in IEEPA tariff refunds, recognizing an $11.8M net benefit in cost of sales; $4.3M remains capitalized in inventory.
Analysis · MTW · Technology
A standout quarter flipped Manitowoc from a $4.8M loss a year ago to $14.2M in net income. Revenue climbed 10% on robust European and Middle East demand, while a one-time $11.8M tariff refund juiced margins. More importantly, orders exploded 56% to $708.7M, pushing backlog to $1.05B — a 44% increase — signaling robust future revenue. The company also disclosed a voluntary customs disclosure that could create tariff liability uncertainty, but the operational momentum is undeniable. With the stock near its 52-week high, this report confirms the turnaround is gaining traction.
At the time of this filing, MTW was trading at $18.81 on NYSE in the Technology sector, with a market capitalization of approximately $675.5M. The 52-week trading range was $9.09 to $19.80. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.