BB&T Capital Downgrades Manitowoc (MTW) to Hold
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The Manitowoc Company Reports Second-Quarter Financial Results
July 29, 2015 5:12 PM EDT
Foodservice posts improving trends during second quarter;
Weakness
in oil and gas further impacts rough-terrain and boom truck markets
driving modestly revised full-year guidance
MANITOWOC, Wis.--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW) today reported second-quarter 2015 sales of $885.4 million, a 12.6 percent decrease from $1,012.8 million in second quarter of 2014, of which $59.7 million, or 46.9 percent, was caused by unfavorable foreign currency impact.
On a GAAP basis, the company reported net income of $23.3 million, or $0.17 per diluted share, in the second quarter of 2015, versus... More
