The Manitowoc Company, Inc. provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand. The company also provides crane product parts and services; and crane rebuilding, remanufacturing, and training services. Its crane products are used in various applications, including energy production/distribution and utilities; petrochemical and industrial projects; infrastructure, such as road, bridge, and airport construction; and commercial and high-rise residential construction. The company serves a range of customers, including dealers, rental companies, contractors, and government entities in the petrochemical, industrial, commercial construction, power and utilities, infrastructure, and residential construction end markets. The Manitowoc Company, Inc. was founded in 1902 and is headquartered in Milwaukee, Wisconsin.
IPO Year:
Exchange: NYSE
Website: manitowoc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/1/2023 | $14.00 → $17.00 | Underweight → Equal Weight | Wells Fargo |
| 4/3/2023 | $13.00 → $15.00 | Neutral → Sell | Goldman |
| 4/8/2022 | $16.00 | Outperform → Neutral | Robert W. Baird |
| 3/11/2022 | $17.00 | Underweight | Wells Fargo |
| 3/10/2022 | $24.00 → $18.50 | Neutral | Citigroup |
| 12/15/2021 | $23.00 → $22.00 | Neutral | Credit Suisse |
| 11/5/2021 | $20.00 → $23.00 | Neutral | Credit Suisse |
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The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc"), a leading global manufacturer of cranes and lifting solutions, today announced that James S. Cook, currently the Company's Senior Vice President, Health, Safety, Environment (HSE) and The Manitowoc Way, has been appointed Senior Vice President, Human Resources, and The Manitowoc Way effective immediately. "I am very pleased to have James take this critical role for Manitowoc. James' proven track record of developing and successfully delivering global cultural change and performance improvement using the principles of The Manitowoc Way makes him the ideal leader to ensure our Company is positioned for long-term success,"
The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc"), a leading global manufacturer of cranes and lifting solutions, today announced that Jennifer L. Peterson, currently the Company's Interim General Counsel and Assistant Secretary, has been appointed Executive Vice President, General Counsel and Secretary effective immediately. "I am excited to have Jennifer take this key role for Manitowoc. I've worked closely with Jennifer for over four years, and her leadership and experience in leading the increasing demands from stakeholders on global legal, risk, and compliance programs makes her the ideal person to ensure our Company is positioned for long-term success in these are
VANCOUVER, BC, Aug. 5, 2021 /PRNewswire/ - Ballard Power Systems (NASDAQ:BLDP) (TSX:BLDP) today announced that, effective August 5, 2021, the Company has appointed Mr. Hubertus Muehlhaeuser to the Company's Board of Directors. Mr. Jim Roche, Chairman of Ballard's Board of Directors said, "We continue to ensure a strong matrix of diverse and complementary skills and experiences on our Board. Hubertus brings a strong background in industrial manufacturing, including commercial vehicles, construction machinery, agricultural machinery, and powertrain technologies. His distinguis
Wells Fargo upgraded Manitowoc from Underweight to Equal Weight and set a new price target of $17.00 from $14.00 previously
Goldman downgraded Manitowoc from Neutral to Sell and set a new price target of $15.00 from $13.00 previously
Robert W. Baird downgraded Manitowoc from Outperform to Neutral and set a new price target of $16.00
Wells Fargo initiated coverage of Manitowoc Co with a rating of Underweight and set a new price target of $17.00
Citigroup reiterated coverage of Manitowoc Co with a rating of Neutral and set a new price target of $18.50 from $24.00 previously
Credit Suisse reiterated coverage of Manitowoc Co with a rating of Neutral and set a new price target of $22.00 from $23.00 previously
Credit Suisse reiterated coverage of Manitowoc Co with a rating of Neutral and set a new price target of $23.00 from $20.00 previously
Barclays resumed coverage of The Manitowoc with a rating of Underweight and set a new price target of $16.00 from $17.00 previously
Robert W. Baird upgraded The Manitowoc from Neutral to Outperform
Baird upgraded Manitowoc Co from Neutral to Outperform and set a new price target of $31.00 from $17.00 previously
The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc") today reported a third-quarter net loss of $7.0 million, or $0.20 per diluted share. Third-quarter adjusted net loss(1) was $2.9 million, or $0.08 per diluted share. Orders in the third quarter were $424.7 million, a 20.0% decrease from the prior year, resulting in backlog at the end of the third quarter of $742.1 million. Net sales in the third quarter were flat year-over-year at $524.8 million, and adjusted EBITDA(1) was $26.2 million, a decrease of 21.3% from the prior year. "During the quarter, we made good progress on our CRANES+50 strategy; non-new machine sales reached a new high of $617.5 million for the trailin
The Manitowoc Company, Inc. (NYSE:MTW) announced today that it will release its third-quarter 2024 results on Wednesday, October 30, 2024, after the close of market. The Company will host a conference call to discuss its results and outlook on Thursday, October 31, 2024, at 10:00 a.m. ET (9:00 a.m. CT). The conference call will be available via webcast on the Manitowoc website at http://ir.manitowoc.com in the "Events & Presentations" section. A replay of the conference call will also be available at the same location on the website. About The Manitowoc Company, Inc. The Manitowoc Company, Inc. was founded in 1902 and has over a 120-year tradition of providing high-quality, customer-focu
Second-Quarter 2024 Highlights Net sales of $562.1 million, down 6.8% year-over-year Adjusted EBITDA(1) of $36.0 million, margin percentage of 6.4% Adjusted return on invested capital(1) of 7.1% The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc") today reported second-quarter net income of $1.6 million, or $0.04 per diluted share. Second-quarter adjusted net income(1) was $8.8 million, or $0.25 per diluted share. Net sales in the second quarter decreased 6.8% year-over-year to $562.1 million and were unfavorably impacted by $2.7 million from changes in foreign currency exchange rates. Second quarter adjusted EBITDA(1) was $36.0 million, a decrease of $24.4 mi
The Manitowoc Company, Inc. (NYSE:MTW) announced today that it will release its second-quarter 2024 results on Wednesday, August 7, 2024, after the close of market. The Company will host a conference call to discuss its results and outlook on Thursday, August 8, 2024, at 10:00 a.m. ET (9:00 a.m. CT). The conference call will be available via webcast on the Manitowoc website at http://ir.manitowoc.com in the "Events & Presentations" section. A replay of the conference call will also be available at the same location on the website. About The Manitowoc Company, Inc. The Manitowoc Company, Inc. was founded in 1902 and has over a 120-year tradition of providing high-quality, customer-focu
First-Quarter 2024 Highlights Net sales of $495.1 million, down 2.6% year-over-year Diluted net income per share of $0.12, $0.14 on an adjusted basis(1) Adjusted EBITDA(1) of $31.3 million, margin percentage of 6.3% Adjusted return on invested capital(1) of 9.5% The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc") today reported first-quarter net income of $4.5 million, or $0.12 per diluted share. First-quarter adjusted net income(1) was $5.1 million, or $0.14 per diluted share. Net sales in the first quarter decreased 2.6% year-over-year to $495.1 million. First-quarter adjusted EBITDA(1) was $31.3 million, a decrease of $13.8 million or 30.6% from the pri
The Manitowoc Company, Inc. (NYSE:MTW) announced today that it will release its first-quarter 2024 results on Tuesday, May 7, 2024, after the close of market. The Company will host a conference call to discuss its results and outlook on Wednesday, May 8, 2024, at 10:00 a.m. ET (9:00 a.m. CT). The conference call will be available via webcast on the Manitowoc website at http://ir.manitowoc.com in the "Events & Presentations" section. A replay of the conference call will also be available at the same location on the website. About The Manitowoc Company, Inc. The Manitowoc Company, Inc. was founded in 1902 and has over a 120-year tradition of providing high-quality, customer-focused prod
Fourth-Quarter 2023 Highlights Net sales of $595.8 million Adjusted EBITDA(1) of $36.5 million, margin percentage of 6.1% Net cash provided by operating activities of $39.8 million, free cash flows(1) of $22.3 million Full-Year 2023 Highlights Net sales of $2,227.8 million Adjusted EBITDA(1) of $175.3 million, margin percentage of 7.9% Diluted net income per share of $1.09, $1.52 on an adjusted basis(1) Adjusted return on invested capital(1) of 11.2% The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc") today reported a fourth-quarter net loss of $7.9 million, or $0.23 per diluted share. Fourth-quarter adjusted net income(1) was $3.4 million or $0.
The Manitowoc Company, Inc. (NYSE:MTW) announced today that it will release its fourth-quarter 2023 and full-year 2023 results on Wednesday, February 14, 2024, after the close of market. The Company will host a conference call to discuss its results and outlook on Thursday, February 15, 2024, at 10:00 a.m. ET (9:00 a.m. CT). The conference call will be available via webcast on the Manitowoc website at http://ir.manitowoc.com in the "Events & Presentations" section. A replay of the conference call will also be available at the same location on the website. About The Manitowoc Company, Inc. The Manitowoc Company, Inc. was founded in 1902 and has over a 120-year tradition of providing hi
Third-Quarter 2023 Highlights Net sales of $520.9 million, up 14.6% year-over-year Net income of $10.4 million, an increase of $8.1 million year-over-year Adjusted EBITDA(1) of $33.3 million, margin percentage of 6.4% Non-new machine sales of $154.7 million, up 21.2% year-over-year The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc") today reported third-quarter net income of $10.4 million, or $0.29 per diluted share. Third-quarter adjusted net income(1) was $8.0 million, or $0.22 per diluted share. Net sales increased 14.6% year-over-year to $520.9 million and were favorably impacted by $14.5 million from changes in foreign currency exchange rates. Non-new
The Manitowoc Company, Inc. (NYSE:MTW) announced today that it will release its third-quarter 2023 results on Wednesday, November 1, 2023, after the close of market. The Company will host a conference call to discuss its results and outlook on Thursday, November 2, 2023, at 10:00 a.m. ET (9:00 a.m. CT). The conference call will be available via webcast on the Manitowoc website at http://ir.manitowoc.com in the "Events & Presentations" section. A replay of the conference call will also be available at the same location on the website. About The Manitowoc Company, Inc. The Manitowoc Company, Inc. was founded in 1902 and has over a 120-year tradition of providing high-quality, customer-f
The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc") today reported that it agreed to the terms of a Consent Decree with the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Justice (DOJ) regarding alleged violations of the Transition Program for Equipment Manufacturers (TPEM), a program under the U.S. Clean Air Act. Per the terms of the agreement, Manitowoc will pay a civil penalty of $42.6 million and complete an emissions mitigation project upgrading a short-line locomotive engine in Maryland. Completion of the terms in the Consent Decree settles this matter and releases the Company from civil claims under the Clean Air Act related to the Company's p
The Manitowoc Company, Inc. (NYSE:MTW), (the "Company' or "Manitowoc") announced today that it was recognized as one of the 2024 "Best for Vets" Employers by Military Times. The 2024 recipients list can be viewed on Military Times website. Aaron H. Ravenscroft, President and Chief Executive Officer of The Manitowoc Company, Inc. said, "We are honored to be named by Military Times as one of the best employers for veterans in 2024. Our Veteran Employee Resource Group (VERG) and strategic partnership with Heroes Make America exemplify our commitment to supporting veterans and active-duty military personnel, highlighting the immense value these courageous men and women bring to our organizati
The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc") today reported a third-quarter net loss of $7.0 million, or $0.20 per diluted share. Third-quarter adjusted net loss(1) was $2.9 million, or $0.08 per diluted share. Orders in the third quarter were $424.7 million, a 20.0% decrease from the prior year, resulting in backlog at the end of the third quarter of $742.1 million. Net sales in the third quarter were flat year-over-year at $524.8 million, and adjusted EBITDA(1) was $26.2 million, a decrease of 21.3% from the prior year. "During the quarter, we made good progress on our CRANES+50 strategy; non-new machine sales reached a new high of $617.5 million for the trailin
The Manitowoc Company, Inc. (NYSE:MTW) announced today that it will release its third-quarter 2024 results on Wednesday, October 30, 2024, after the close of market. The Company will host a conference call to discuss its results and outlook on Thursday, October 31, 2024, at 10:00 a.m. ET (9:00 a.m. CT). The conference call will be available via webcast on the Manitowoc website at http://ir.manitowoc.com in the "Events & Presentations" section. A replay of the conference call will also be available at the same location on the website. About The Manitowoc Company, Inc. The Manitowoc Company, Inc. was founded in 1902 and has over a 120-year tradition of providing high-quality, customer-focu
The Manitowoc Company, Inc. (NYSE:MTW) ("Manitowoc") announced today that it has priced its previously announced private offering (the "Offering") of $300 million aggregate principal amount of senior secured second lien notes due 2031 (the "Notes"). The Notes will have an interest rate of 9.250% per annum and are being issued at a price equal to 100.000% of their face value. The Notes will be guaranteed on a senior secured second lien basis, jointly and severally, by each of Manitowoc's domestic subsidiaries that will continue to guarantee Manitowoc's asset-based revolving credit facility that will among other things increase the commitments by $50 million to $325 million (as amended, the "
The Manitowoc Company, Inc. (NYSE:MTW) ("Manitowoc") announced today that it has commenced a private offering (the "Offering") of $300,000,000 aggregate principal amount of senior secured second lien notes due 2031 (the "Notes"), subject to market and other conditions, including Manitowoc entering into an amendment to its existing asset-based revolving credit facility that will among other things increase the commitments by $50 million to $325 million (as amended, the "Amended ABL Credit Facility"). The Notes will be guaranteed on a senior secured second lien basis, jointly and severally, by each of Manitowoc's domestic subsidiaries that will continue to guarantee the Amended ABL Credit Fac
The Manitowoc Company, Inc. (NYSE:MTW) announced today that President and Chief Executive Officer, Aaron H. Ravenscroft and Executive Vice President and Chief Financial Officer, Brian P. Regan will present and host 1x1 investor meetings at the Midwest IDEAS Conference in Chicago, Illinois, on Thursday, August 29, 2024. Manitowoc's presentation is scheduled at 10:15 a.m. ET and will be accessible through the conference webcast link at 2024 Midwest IDEAS Conference (wsw.com) and the Events & Presentations page of Manitowoc's Investor Relations website at http://ir.manitowoc.com. About The Manitowoc Company, Inc. The Manitowoc Company was founded in 1902 and has over a 120-year tradition o
Second-Quarter 2024 Highlights Net sales of $562.1 million, down 6.8% year-over-year Adjusted EBITDA(1) of $36.0 million, margin percentage of 6.4% Adjusted return on invested capital(1) of 7.1% The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc") today reported second-quarter net income of $1.6 million, or $0.04 per diluted share. Second-quarter adjusted net income(1) was $8.8 million, or $0.25 per diluted share. Net sales in the second quarter decreased 6.8% year-over-year to $562.1 million and were unfavorably impacted by $2.7 million from changes in foreign currency exchange rates. Second quarter adjusted EBITDA(1) was $36.0 million, a decrease of $24.4 mi
The Manitowoc Company, Inc. (NYSE:MTW) announced today that it will release its second-quarter 2024 results on Wednesday, August 7, 2024, after the close of market. The Company will host a conference call to discuss its results and outlook on Thursday, August 8, 2024, at 10:00 a.m. ET (9:00 a.m. CT). The conference call will be available via webcast on the Manitowoc website at http://ir.manitowoc.com in the "Events & Presentations" section. A replay of the conference call will also be available at the same location on the website. About The Manitowoc Company, Inc. The Manitowoc Company, Inc. was founded in 1902 and has over a 120-year tradition of providing high-quality, customer-focu
The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc") is pleased to share that Moody's Ratings (Moody's) has upgraded the Company's credit rating to B1 from B2, reflecting the Company's solid operating performance. "This upgrade is a testament of Manitowoc's efforts to structurally reduce our exposure to cyclicality by deliberately targeting growth in the higher margin and more stable aftermarket parts and services and other non-new machine businesses via our CRANES+50 strategy," said Aaron H. Ravenscroft, President and Chief Executive Officer. About The Manitowoc Company, Inc. The Manitowoc Company was founded in 1902 and has over a 120-year tradition of providing hig
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