Manitowoc Q2 Earnings Smash Expectations, Backlog Tops $1B, Guidance Raised
MTW sits 65% above its 52-week low of $9.09.
Summary
Manitowoc delivered a blowout Q2: net income of $14.2M ($0.39/share), adjusted EBITDA up 86% YoY to $48.9M on net sales of $594.9M. Orders surged 56% to $708.7M, pushing backlog past $1B. The company raised full-year guidance across the board—adjusted EBITDA now seen at $150-$170M (up from $125-$150M) and adjusted EPS at $0.80-$1.20 (from $0.45-$0.90). This follows a Q1 that already showed improving sales and backlog, but the magnitude of the Q2 beat and guidance hike is a clear positive surprise. The stock is trading near its 52-week high, and these results validate the momentum. The conference call tomorrow morning will provide more color on the sustainability of order strength and margin expansion.
At the time of this announcement, MTW was trading at $15.01 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $510.3M. The 52-week trading range was $9.09 to $15.56. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: BusinessWire.