The Manitowoc Company, Inc.

MTW: 8-K · earnings release

Manitowoc furnished its Midwest IDEAS Investor Conference presentation via 8-K and raised full-year 2026 guidance: net sales to $2.3-$2.4 billion (from $2.25-$2.35 billion), adjusted EBITDA to $150-$170 million including a $16 million net benefit from tariff refunds (from $125-$150 million), adjusted DEPS to $0.80-$1.20 (from $0.45-$0.90), and adjusted free cash flow to $50-$70 million. The raise is underpinned by a backlog of $1.05 billion, up 44% year over year as of June 30, 2026, and the company's push into higher-margin aftermarket revenue, with non-new machine sales up 84% since 2020 and over $700 million on a trailing-twelve-month basis at roughly 35% gross margin. Management reiterated five-year aspirational targets of $3.0 billion-plus revenue, $1.0 billion-plus non-new machine sales, 12%+ adjusted EBITDA, and 15%+ adjusted ROIC, versus a 2025 base of $2.2 billion net sales, $122 million adjusted EBITDA, and 5.3% adjusted ROIC. Capital allocation highlights include $180 million spent on the H&E Cranes and Aspen Equipment acquisitions (more than $45 million adjusted EBITDA at ~6x), a $154 million RPO/rental fleet of about 270 cranes, net leverage reduced to 2.6x as of June 30, 2026, and $29 million remaining on the share repurchase authorization.

SEC 8-K•2mo ago

MTW: 10-Q · periodic report

Manitowoc posted a sharp profit rebound in Q2 2026, with net sales up 10.3% year over year to $594.9 million and diluted EPS of $0.39 versus $0.04 a year earlier. Net income rose to $14.2 million from $1.5 million, and gross margin expanded to 20.7% from 18.4%. Demand momentum was the standout: Q2 orders jumped 56.1% to $708.7 million and backlog reached $1,050.1 million at June 30, up 44.0% from a year earlier, with higher demand across all three segments (Americas, EURAF, and MEAP). Operating cash flow swung positive to $35.4 million for the first half from a $54.8 million outflow a year ago. Part of the margin lift was one-time in nature: the company received $26.2 million of IEEPA tariff refunds from U.S. Customs and Border Protection, recognizing an $11.8 million net benefit in cost of sales, with another $4.3 million capitalized into inventory to be recognized as sold. Watch items remain: Americas segment sales fell 6.6% in Q2, and on May 1, 2026 the company voluntarily disclosed to CBP potential errors in its Section 232 tariff calculation methodology covering April 2021 through April 2026 (about $18.0 million of tariffs paid), which could result in material incremental tariffs, refunds, interest, or legal and administrative costs.

SEC 10-Q•2mo ago

The Manitowoc Company Reports Strong Second-Quarter 2026 Results; Backlog Over $1.0 Billion, Adjusted EBITDA Improved 85.9% From the Prior Year, and Full Year Guidance Raised

Manitowoc reported Q2 net sales of $594.9 million, up 10.3% year-over-year, with adjusted EBITDA surging 85.9% to $48.9 million driven by significant margin expansion. Order intake jumped 56.1% to $708.7 million, resulting in a record backlog of over $1.05 billion, which underpins the company's positive outlook. Management raised full-year 2026 guidance across the board, increasing revenue estimates to $2.3B-$2.4B and adjusted EBITDA to $150M-$170M.

•2mo ago

U.S. Government Affirms Manitowoc’s Anti-Dumping Claim

The U.S. International Trade Commission and Department of Commerce affirmed a finding of predatory dumping by Japanese producers of lattice-boom crawler cranes, siding with Manitowoc's claim. New antidumping duties are set to take effect this month, which management says will restore fair competition and support U.S. manufacturing operations. CEO Aaron Ravenscroft welcomed the unanimous bipartisan decision as a positive step for the company's long-term strength and workforce.

•3mo ago