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Manitowoc Company (MTW)
NYSE:MTW
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.13Last Year’s EPS
$0.09Same Quarter Last Year
Moderate Sell
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -15.43%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Negative
The earnings call reflects significant challenges, particularly in terms of declining orders and missed sales targets, which have impacted financial performance and led to higher inventory levels. While there are operational improvements and growth in non-new machine sales, the negative factors currently outweigh the positive achievements.Company Guidance
During the Manitowoc Q3 2024 earnings call, the executives provided guidance reflecting a challenging market environment, with particular focus on the impact of geopolitical events and market dynamics. They highlighted a 20% decrease in orders to $425 million year-over-year, attributed primarily to the Americas, as U.S. election uncertainties and high interest rates weighed on demand. The company reported net sales of $525 million, flat from the previous year, and a backlog of $742 million. Adjusted EBITDA was $26 million, down 21% year-over-year, with a margin decline of 140 basis points to 5%, largely due to product mix and reduced build schedules. The executives emphasized ongoing strategies to control what they can, such as reducing inventory and enhancing cash flow, while maintaining focus on their CRANES+50 strategy to drive non-new machine sales, which grew by 9% to $169 million. Despite these headwinds, there was optimism for improvement post-U.S. election, with potential catalysts including declining global interest rates and infrastructure initiatives.Debt Refinancing Success
Completed refinancing of debt with an amended ABL credit facility, increasing borrowing capacity from $275 million to $325 million and extending the tenure to 2029. Issued new $300 million notes at 9.25% due October 2031.
Non-New Machine Sales Growth
Non-new machine sales for the third quarter were $169 million, up 9% year-over-year, driven by used crane sales and MGX business growth.
Operational Improvements
Implemented operational improvements in the Wilhelmshaven factory, reducing material flow by 93% and introducing an innovative test device for assembly efficiency.
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MTW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MTW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $10.37 | $9.34 | -9.93% |
| Aug 07, 2024 | $10.78 | $10.22 | -5.19% |
| May 07, 2024 | $12.63 | $12.42 | -1.66% |
| Feb 14, 2024 | $15.78 | $16.44 | +4.18% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Manitowoc Company (MTW) report earnings?
Manitowoc Company (MTW) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is Manitowoc Company (MTW) earnings time?
Manitowoc Company (MTW) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MTW EPS forecast?
MTW EPS forecast for the fiscal quarter 2024 (Q4) is $0.13.
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