UPDATE: Manitowoc (MTW) Tops Q3 EPS by 10c, Revenues Beat; Offers FY18 Revenue Outlook Below Consensus

November 5, 2018 4:13 PM
(Updated - November 6, 2018 9:01 AM EST)

(updated to correct revenues)

Manitowoc (NYSE: MTW) reported Q3 EPS of $0.20, $0.10 better than the analyst estimate of $0.10. Revenue for the quarter came in at $450.1 million versus the consensus estimate of $452.55 million.

“The Manitowoc team continues to deliver excellent results with our sixth consecutive quarter of year-over-year adjusted EBITDA percentage improvement,” commented Barry L. Pennypacker, President and Chief Executive Officer of The Manitowoc Company, Inc. “Our operational progress using the principles of The Manitowoc Way continue to produce measurable improvements in a very competitive market environment.”

“We, as other industrial manufacturers, are not immune to supply chain challenges as well as significantly higher input costs,” continued Pennypacker. “The team has done an excellent job of effectively managing through these headwinds, while maintaining our focus on delivering our financial commitments.”

GUIDANCE:

Manitowoc sees FY2018 revenue of $1.8-1.825 billion, versus the consensus of $1.84 billion.

For earnings history and earnings-related data on Manitowoc (MTW) click here.

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